Digital Transactions Authoritative, insightful and timely information for payments professionals
The outlook for payments in 2025 will be rife with open finance, instant payments, multi-rail payments, interchange questions, and the increasing use of artificial intelligence, observers suggest. The top three payments trends next year will be open finance, instant payments adoption, and point-of-sale innovations, says Capgemini Research Institute in its …
December, 2024
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20 December
The CFPB Sues Early Warning, BofA, Chase, And Wells Over Zelle Fraud
The Consumer Financial Protection Bureau early Friday said it has sued Early Warning Services LLC as well as Bank of America, JPMorgan Chase, and Wells Fargo, alleging the Zelle person-to-person payments network failed to protect consumers against fraud. The banks are three of the seven financial institutions that own Early …
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18 December
VizyPay Revenue up 14% and other Digital Transactions News briefs from 12/18/24
Payments provider VizyPay said it processed $2.06 billion on 39 million transactions in 2024, as revenue climbed 14% to $24.1 million. PDX Global has completed tests for its PDX Beam technology, which converts cryptocurrency to cash in consumer-to-merchant transactions. The company will on Thursday embark on a public beta test of the system. …
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17 December
Visa Uses AI To Thwart Cyber Monday Fraudsters; Card.com Adds Visa Direct Cross Border Payments
Visa Inc. announced it dealt a significant setback to fraudsters hoping to cash in on Cyber Monday, the busiest online-shopping day of the year, by stopping about 85% more suspect transactions than it did a year earlier. The increase in fraud prevention is significant, as suspect transactions rose 200% globally …
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12 December
Nuvei’s Google Pay Expansion and other Digital Transactions News briefs from 12/12/24
Canada-based processor Nuvei Corp. announced an expansion of its Google Pay offering to merchants throughout Latin America. The company already offers the wallet in the U.S., European, Asia-Pacific, and Australian markets. Grocery e-commerce platform eGrowcery said it and Forage, a payments provider that can process online EBT SNAP payments, are working on a service …
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6 December
Cyber Weekend Sales up 5.7%, Fiserv Says and other Digital Transactions News briefs from 12/6/24
Same-store sales volume rose 5.7% and transactions were up 6.7% during the days from Nov. 27 and Dec. 2 compared to the same week last year, according to the 2024 Thanksgiving Holiday Insights report from Fiserv Inc. Illinois-based payments provider Payroc will work with Sunday, a restaurant point-of-sale technology provider, to offer the …
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4 December
OwlTing Partners With MoneyGram; Nuvei Enables Blockchain Payment in Latin America; Nacha’s Crypto Report
OwlTing Group, a blockchain-technology company, is working with MoneyGram International Inc. to support cash-in transactions from local fiat currencies to USD Coin in its OwlPay Wallet Pro service at nearly 50,000 MoneyGram locations in 30 countries. OwlPay Wallet Pro is a blockchain-based, unhosted digital wallet that enables cross-border transactions. USD Coin is …
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4 December
The Clearing House Raises Its Real Time Payments Cap to $10 Million—a 10X Increase
The Real Time Payments network operated by The Clearing House Payments Co. said early Wednesday it will raise its transaction limit to $10 million, a tenfold jump from the current $1-million cap. The new limit will take effect Feb. 9, following a 60-day notice period required by The Federal Reserve. …
November, 2024
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20 November
APP Fraud To Reach $7.6 Billion by 2028 in Six Countries, ACI Says
Authorized push payment fraud could reach $7.6 billion in six markets, ACI Worldwide Inc. says in its latest Scamscope report. Released Wednesday, the report looks at APP fraud in the United States, United Kingdom, India, Brazil, Australia, and the United Arab Emirates, all markets with real-time payments. APP fraud happens …
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20 November
Fiserv and ADP Team up and other Digital Transactions News briefs from 11/20/24
Fiserv Inc. and ADP have agreed to offer as a package Fiserv technologies such as Clover and CashFlow Central and ADP services for payroll and human resources. The offering is expected to be available early next year. Gift card specialist Raise said it expanded into Canada following last month’s launch in the United …
