Digital Transactions Authoritative, insightful and timely information for payments professionals
The yin and yang of political, and ferociously commercial, PayPal was vividly on display with its announcement last month of a massive price hike. The e-commerce phenom attaches itself to an array of woke causes but remains a wonderfully hard-nosed commercial enterprise, keen to be fully compensated for the enormous value …
July, 2021
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22 July
Visa Agrees to Lay out Nearly $1 Billion to Acquire Britain’s Cross-Border Specialist Currencycloud
Visa Inc. has been concentrating on building out its “network-of-networks” strategy for some time, and it’s latest move in that project came early Thursday with the news that it has agreed to acquire Currency Cloud Ltd., a London-based developer of application programming interfaces that can simplify cross-border payments. The deal values …
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22 July
Discover’s Payment Volume Increased 22% and other Digital Transactions News briefs from 7/22/21
Discover Financial Services reports its payment services volume of $78.4 billion for the second quarter of 2021 increased 22% from $64.5 billion in the same period a year ago. Its Pulse network dollar volume of $62.9 billion increased 18% from $52.9 billion year-over-year. Discover card sale volume of $45.6 billion increased …
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21 July
Most Consumers Want To Decrease Credit Card Use As BNPL And Debit Gain Favor, a Survey Finds
A majority of U.S. consumers in all age groups—76%—would like to decrease their use of credit cards as they seek to avoid debt, are wary of their ability to pay off their balances each month, and have concerns about making the minimum payments, according to a survey from GoCardless Ltd., …
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21 July
COMMENTARY: The Case for Cryptocurrencies As the Future of Digital Payments
The history of payments in the last century has been a fascinating journey. From gold-backed paper currency to a fiat model that grew beside the convenient credit card system, the method in which we transact has always been reflective of society’s technological capabilities at that time. Even as late as …
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21 July
Veem Adds Products for SMBs and other Digital Transasctions News briefs from 7/21/21
Payments provider Veem Inc. launched several new products for small businesses, including Veem Invoicing and Veem Collections.Cryptocurrency platform OKCoin USA Inc. has chosen FIS’s Worldpay unit to provide merchant acquiring and global exchange service in support of OKCoin’s ongoing global expansion.Visa Inc. said it will launch later this year an “evolved” brand identity featuring refreshed …
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20 July
Sezzle Capital Debuts and other Digital Transactions New briefs from 7/20/21
Buy now, pay later provider Sezzle Inc. launched Sezzle Capital, a program that provides working capital up to $10 million to qualified merchants. The service is built on the Wayflyer funding platform.Square Inc. launched Square Banking, based on the company’s industrial bank, Square Financial Services, which began operating in March. The banking offering consists …
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19 July
Infinicept Launches a Network to Help Link Software Firms With Payments Resources
For years, one of the fastest-growing trends in payments has been the idea of weaving transactional capability into business and consumer software. Now, one of the most prominent platforms in that business has launched a network to help connect software firms with payments companies and resources. “We’re doubling down on …
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19 July
Bill.com Acquires Invoice2go and other Digital Transactions News briefs from 7/19/21
Business payments provider Bill.com announced the $625 million acquisition of Invoice2go, a mobile-first accounts receivable software provider. The stock and cash transaction is expected by the end of 2021.U.S. blockchain-payments specialist GreenBox POS LLC has agreed to acquire Europe-based processor Transact Europe Holdings OOD for 30 million euros, or approximately $35 million. The deal …
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16 July
Discover Is the Latest Card Network to Bust Into BNPL, a Market With Heated Rivalry
The buy now, pay later trend has gained enough steam that the major card networks can’t afford to ignore it. The latest evidence that the credit card giants want to hedge their bets came this week with the news that Discover Financial Services invested $30 million in Minneapolis-based Sezzle Inc., …
