Digital Transactions Authoritative, insightful and timely information for payments professionals
Talk of embedded finance, the marrying of financial services with unrelated applications for businesses, threaded through the Money 20/20 conference this week in Las Vegas, as fintechs and financial institutions devise initiatives that extend beyond simple credit and debit card acceptance. Among the latest of these is Shopify Finance, a …
November, 2024
-
1 November
Nacha’s Pay by Bank Definition Work and other Digital Transactions News briefs from 11/1/24
Nacha, the regulatory body for the automated clearing house network, said its Payments Innovation Alliance group has initiated an effort to define the term “pay by bank” for various industry stakeholders. Flexa announced it will now process digital-currency transactions for more than 750 Sheetz convenience stores in the Mid-Atlantic region. The …
October, 2024
-
31 October
A Court Hears Arguments Over a Possible Injunction Against the Illinois Interchange Law
Arguments over whether the U.S District Court for the Northern District of Illinois should grant a preliminary injunction to block the scheduled implementation of the Illinois Interchange Fee Prohibition Act were heard yesterday in Chicago. While the judge did not issue a ruling, she did question both plaintiffs and defendants …
-
31 October
Mastercard Looks for Growth Across a Widening Field
Mastercard Inc.’s top management on Thursday made it plain its ambitions for the card payments company have widened dramatically in recent months as the network looks for expansion in such areas as open banking, cybersecurity, tokenization, and consulting for merchants. It’s also eyeing its opportunities in the massive China market, …
-
31 October
New Clover Devices Debut and other Digital Transactions News briefs from 10/31/24
Fiserv Inc. announced enhancements to its Clover point-of-sale technology set, including new devices; integrations such as payroll; and financial functions such as cash discounting, cash advances, and same-day funds transfers. Holders of Visa Inc.’s Infinite Privilege cards can book scarce reservations at popular restaurants in several Canadian cities through the card network’s collaboration …
-
30 October
Visa Finishes Strong, Even With the DoJ Taking It to Court
Despite the dark cloud the U.S. Department of Justice’s recent lawsuit over Visa Inc.’s debit business has cast over the network, Visa finished its fiscal year 2024 on a strong note. Among the highlights during Visa’s earnings call late Tuesday were growth in credentials, tokens, and merchant locations, along with …
-
30 October
Worldpay Offers Klarna Globally and other Digital Transactions News briefs from 10/30/24
The big processor Worldpay has agreed to offer Klarna AB as a default payment method to its merchants around the world. Worldpay says it processed $2.3 trillion in volume last year for more than 1 million merchants worldwide. Visa Inc. announced it has agreed to provide real-time money-movement capability for users making deposits …
-
29 October
PayPal’s CEO Looks to Kickstart Growth With Initiatives Like Fastlane and Complete Payments
PayPal Holding Inc.’s top management early Tuesday wasted no time extolling the early returns on several initiatives the payments company has launched in recent weeks to reinvigorate growth at the 26-year-old company. Chief executive Alex Chriss, in office for barely more than a year, made it clear he is exercising …
-
29 October
Eye on Payments: Nvidia’s AI Fraud Detection Tool; RTP’s Ongoing Use Grows
The evolution of artificial-intelligence tools toward countering credit card transaction fraud took another step with the launch of a new AI workflow from Nvidia Corp. Meanwhile, the RTP network from The Clearing House Payments Co. LLC finds that 90% of organizations’ counterparties whom they send to or receive instant payments …
-
28 October
Shift4 Puts Its Weight Behind Cryptocurrency as a Payment Option
Shift4 Payments Inc. early Monday gave cryptocurrency a big shot in the arm as a payment option with the announcement it will support digital currencies across its merchant network. Shift4 will support coins including Bitcoin, Ethereum, and Solana SOL, as well as US Dollar Coin and other major stablecoins, …
