Digital Transactions Authoritative, insightful and timely information for payments professionals
The Bancorp Inc., which provides payments and other financial services to fintechs, reported September quarter-net income of $51.5 million, up slightly from $50.1 million a year ago. Gross dollar volume on prepaid and credit cards grew 15% to $37.9 billion. Payment fees from prepaid and debit cards, automated clearing house …
October, 2024
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24 October
How the CFPB’s Data Privacy Rule for Open Banking Could Impact Merchants’ Swipe Fees
While the Consumer Financial Protection Bureau is being sued over its data-privacy rule, merchants remain optimistic the regulation will help them reduce the impact of swipe fees by making account-to-account payments widely available at the point of sale. The key is open banking, which paves the way to developing payment …
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24 October
BlueSnap’s Many Integrations and other Digital Transactions News briefs from 10/24/24
Payments provider BlueSnap launched its Channel Partner Program, through which it has signed eight system-integration partnerships in the U.S., Canadian, and U.K. markets. Visa Inc. said it is working with governing entities around the world to help them create digital access to government services for their citizens. Mastercard Inc. announced it has extended its …
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23 October
Eye on Pay by Bank: Dwolla Readies Plaid Integration; Trustly Forecasts 33% Americas Growth
Account-to-account payments provider Dwolla Inc. is readying itself for more pay-by-bank business with an expanded integration to open-banking platform Plaid Inc. Des Moines, Iowa-based Dwolla says the integration, which is scheduled to go live in early 2025, will make Plaid’s instant account-verification and risk-assessment services available in Dwolla’s pay by …
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23 October
Goldman $89 Million and other Digital Transactions News briefs from 10/23/24
The Consumer Financial Protection Bureau has fined Goldman Sachs “at least” $19.8 million in redress and assessed the company a $45 million civil-money penalty, while at the same time ordering Apple Inc. to pay a $25-million civil money penalty. The agency has also banned Goldman from introducing a new credit card …
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22 October
The CFPB Releases Its Data Privacy Rule for Open Banking
The Consumer Financial Protection Bureau has finalized its personal financial data-rights rule aimed at governing the sharing of consumer data through open banking. The new rule, released early Tuesday, will require financial institutions, credit card issuers, and other financial providers to share data at a consumer’s direction with companies offering …
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22 October
Fiserv Posts Growth As New Tech And New Initiatives Start to Kick in
Fiserv Inc., one of the nation’s biggest processors, put up some notable growth numbers in the September quarter despite its size. How long it can maintain that momentum may depend on its ability to release new services and build on recent initiatives such as its SMB Bundle and Cashflow Central, …
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22 October
Clearent’s New PayFac Service and other Digital Transactions News briefs from 10/22/24
Clearent by Xplor launched its payfac as a service product to help software companies more easily embed payment acceptance into their applications. Fiserv Inc. announced it has agreed to build financial services into the digital platform operated by DoorDash, the online delivery service. Payments provider Shift4 Payments Inc. announced it will acquire transactions for …
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21 October
Eye on Acquiring: Square Makes Some Beauty Updates; a Software Maker Extends Its Worldpay Deal
Square, the acquiring arm of Block Inc., is diving deeper into health-and-beauty services via a partnership with business-to-business distributor SalonCentric, a unit of L’Oreal USA, and expanding options in its app marketplace. In related news, Worldpay will continue as the exclusive payments provider for The Reynolds and Reynolds Co., a …
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18 October
How Deals And Tech Are Helping AmEx Bulk up in the Hot Restaurant Market
American Express Co.’s top brass early Friday stressed the company’s technology build-up in the red-hot restaurant category while stressing a need to spur cardholder spending overall as the card company presented its third-quarter 2024 results. Revenue in the quarter hit $16.6 billion, up 8% from the September quarter last year, …
