Digital Transactions Authoritative, insightful and timely information for payments professionals
While mobile-wallet ownership holds steady at 45%, younger consumers are embracing the payment technology more readily than they were 10 months ago, according to a research from the big processor FIS Inc. As of February, 65% of young Millennials use a mobile wallet, compared to 59% in April 2020. In …
May, 2021
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13 May
Priority’s Revenue up 22% and other Digital Transactions News briefs from 5/13/21
Payments technology provider Priority Technology Holdings Inc. reported first-quarter revenue of $113.3 million, up almost 22% from $93.1 million. The latter figure omits $3.5 million in revenue from the company’s RentPayments business, which it sold in September.The Federal Reserve Bank of Atlanta formed the Special Committee on Payments Inclusion that will focus on advancing …
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12 May
U.S. Consumer Spending Is Gaining Strength Fast, a New Index Based on Visa Data Shows
Visa Inc. on Wednesday introduced to the general public its Visa Spending Momentum Index, a measure of what the global payments network calls “the health of consumer spending,” and the latest number indicates the U.S. economy is doing far better in the wake of business reopenings. In April, the index …
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12 May
MoneyGram’s Bitcoin Gambit and other Digital Transactions News briefs from 5/12/21
MoneyGram International Inc. said it and Coinme Inc., a cryptocurrency exchange, are jointly offering a service to enable consumers to purchase Bitcoin with cash and withdraw Bitcoin value in cash. Initially, the service will be available at select U.S. MoneyGram locations in coming weeks. Eventually, the service will expand to include …
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11 May
Past Its SPAC, Paysafe Logs First-Quarter Gains While Seeking to Expand in U.S. iGaming
Paysafe Group Holdings Ltd. has had an eventful six months, and on Tuesday the big processor indicated it’s going to be busy cultivating its stakes in U.S. online gambling and other specialized markets. “Our goal is to be the leading specialized payments platform,” declared chief executive Philip McHugh during a …
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11 May
Repay To Acquire BillingTree and other Digital Transactions News briefs from 5/11/21
Repay Holdings Corp. said it is acquiring BillingTree, which provides payment services to the healthcare, credit union, accounts receivable management, and energy industries, for $503 million. BillingTree was founded in 2003. Repay also released its first quarter results with $47.5 million in revenue, a 20.3% increase from $39.5 million in the 2020 first …
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10 May
BNPL Player Affirm Looks to Its Fast-Growing Shopify Link for Near-Term Growth
Affirm Holdings Inc. on Monday described an arc that traced deals to process for tens of thousands of Shopify Inc. merchants on the upside and returns for $2,500 Peloton Inc. treadmills on the downside. In a conference call with stock analysts to discuss its fiscal third-quarter results, the San Francisco-based …
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10 May
Prices Are Booming for Stolen Credit Card And Cryptocurrency Accounts
Prices for cloned credit cards and the accompanying account data for sale on the dark Web are on the rise, while data from hacked cryptocurrency accounts command some of the highest prices, according to a report from PrivacyAffairs.com, an online publication from Romania-based Zisk Web Ltd. From October 2020 through February …
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10 May
A Fed Report on Debit Costs Could Fuel a Movement to Reduce a Decade-Old Fee Cap
Pressure may be building on the Federal Reserve to take action on a debit card interchange-fee regulation that it has left intact for 10 years despite sweeping changes in the payments business, including an onrush of e-commerce transactions over the past year. In part, observers are reacting to a report …
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10 May
Nuvei Volume Soars 132% and other Digital Transactions News briefs from 5/10/21
Payments provider Nuvei Corp. reported first-quarter volume of $20.6 billion, up 132% year-over-year, with e-commerce accounting for 87% of that total. Revenue grew 80% to $149.9 million. Nuvei was known as Pivotal Payments until rebranding in 2018.Kount, an authentication and fraud prevention provider, announced Kount Dispute and Chargeback Management Solution, a service that integrates …
