Thursday , March 28, 2024

Prepaid Cards

Verifone’s New Boss And Other Digital Transactions News briefs from 8/1/23

Payments technology provider Verifone Holdings Inc. announced Mike Kohlsdorf has joined the company as chief executive, succeeding Mike Pulli. Kohlsdorf’s background includes CEO positions with eight portfolio companies of Verifone backer Francisco Partners. Pulli has been CEO since 2018. Payments technology firm Weave, a specialist in small and medium-size businesses, announced an expansion …

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The Bancorp Reports Prepaid And Debit Volume Growth Above 15%

Gross dollar volume on prepaid and other debit cards issued by The Bancorp Bank grew 15% year-over-year in the second quarter, and the bank expects volume growth will exceed that rate in 2024 as it expands existing programs and books new partners. Dollar volume hit $32.8 billion for the quarter, …

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Finzly and Other Providers Add FedNow Support And Other Digital Transactions News briefs from 7/21/23

Service provider Finzly said it supports the FedNow real-time payments service that launched Thursday. Other providers— Jack Henry & Associates Inc. and Pidgin—also support the instant payment service. Fiserv Inc. said two of its clients are live on FedNow and nearly 100 others anticipate doing so in coming months. Banking services provider CSI said it offers FedNow access and noted …

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Shopify’s Latest Sales Channel Is Roku

Entertainment-streaming platform Roku says a partnership with Shopify Inc. will provide viewers the ability to purchase products from Shopify merchants directly from their TV through Roku Action Ads. It works like this: When viewing an ad for a Shopify merchant, viewers press OK on their Roku remote to learn more …

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 Adyen Adds Tap to Pay on Android And Other Digital Transactions News briefs from 7/11/23

Point-of-sale technology provider Adyen NV has added Tap to Pay on Android, which allows merchants to accept contactless card payments directly on a mobile device with no additional hardware. Adyen is adding the technology initially in the United States and Singapore. Checkout.com launched Identity Verification, a tool based on artificial intelligence that allows …

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Digital Gift Cards Are Poised to Become a $1 Trillion Market by 2032

The global digital gift card market is projected to reach $1.2 trillion in 2032, up from $310.1 billion in 2022, according to a report from market research firm Custom Market Insights. In 2023, CMI projects sales of digital gift cards will total $399 billion, a more than 28% year over …

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Fed Routing Rule Takes Effect Saturday And Other Digital Transactions News briefs from 6/30/23

On Saturday, a final rule issued in October by the Federal Reserve goes into effect, requiring that all issuers offer a choice of at least two networks for routing online debit card transactions. The update, derived from the 2010 Durbin Amendment, has been a bone of contention for years between merchants and issuers. …

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Travel Chargebacks up 71% And Other Digital Transactions News briefs from 6/27/23

Travel companies experienced a 71% growth in chargebacks in the past few years, according to the “Tackling the Travel Chargeback Challenge” report from Outpayce from Amadeus, a global travel company. The survey canvassed 46 airline and travel agent executives in the second quarter. The Accredited Standards Committee X9 Inc. started an industry forum …

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 Plaid Beacon Debuts And Other Digital Transactions News briefs from 6/22/23

Open banking specialist Plaid launched Plaid Beacon, an anti-fraud network for fintechs and financial institutions. The fintech Karma Wallet has allied with card-issuing platform Marqeta Inc. to introduce a prepaid card offering cash-back rewards from merchants said to be local, ethical, and sustainable. PayEm, a spend-management platform, has integrated with American Express to allow …

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Blackhawk Adds Three More Betting States for its Game On Card

The new revenue opportunity associated with online gambling compels many payments companies to court gaming providers. Blackhawk Network, the prepaid card specialist, is the latest to do this with the expansion of its Game On card to Maryland, Kansas, and Wyoming. Game On cards enable consumers add funds to their …

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Digital Transactions