June 7, 2021
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, Digital Currency, E-Commerce, Issuing/Originating, Law and Regulation, Marketing, Mobile Commerce, Point-of-sale, Transaction Processing
Point-of-sale developer SpotOn introduced SpotOn Sidekick, a handheld POS-acceptance device designed specifically for food trucks, pop-up dining, cafes, and other mobile food kitchens. Pricing was not disclosed.Visa Inc. said banking giant Goldman Sachs will deploy Visa’s B2B Connect and Visa Direct Payouts platforms to speed cross-border business-to-consumer and business-to-business payments for Goldman client …
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June 4, 2021
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Issuing/Originating, Law and Regulation, Point-of-sale, Transaction Processing
From a merchant perspective, one of the most harmful features of today’s card networks is default pricing. One merchant advocate succinctly described the anti-competitive impact of default pricing, stating, “with default pricing, banks have no incentive to compete for merchants’ business.” Today, individual merchants are forced to face off against …
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June 4, 2021
Acquiring, Competitive Strategies, Digital Currency, E-Commerce, Fraud & Security, Mergers & Acquisitions, Mobile Commerce, Point-of-sale, Real-time Payments, Transaction Processing
Payments provider Fintainium said it is working with Visa Inc.’s real-time push-payment network, Visa Direct, and CIT Inc. to let merchants access cash flow and consumers receive payouts.Progressive Care Inc. said its PharmCoRx pharmacies is accepting Bitcoin in payment for Covid-19 rapid-testing services. The company began accepting cryptocurrency in 2018.ParkMobile LLC said its mobile app is …
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June 3, 2021
Acquiring, Automated Clearing House, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Law and Regulation, Mobile Commerce, Mobile Wallets, Point-of-sale, Transaction Processing
Less than a month after Paysafe Group Holdings Ltd. announced processing online gambling transactions will become a primary focus for the company, the strategy is quickly paying dividends as the processor has expanded its relationship with Golden Nugget Online Gaming Inc. to Michigan. The deal is an outgrowth of online-gambling …
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June 3, 2021
Competitive Strategies, Digital Currency, E-Commerce, Marketing, Mobile Commerce, Mobile Wallets, Transaction Processing
Most payments processors that deal in digital currencies let consumers pay with Bitcoin or other cryptocurrencies and then may translate that money into dollars or other fiat money for the merchant. On Thursday, a company called Paxful Inc. announced a service that appears to do the opposite: it lets users …
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June 3, 2021
Competitive Strategies, E-Commerce, Fraud & Security, Issuing/Originating, Marketing, Mobile Commerce, Mobile Wallets, Person-to-Person Payments, Real-time Payments, Transaction Processing
With the Covid-19 pandemic prompting consumers to adopt online commerce and mobile-banking apps in droves, Fair Isaac Corp. (FICO) is betting the latest release of its FICO Falcon Fraud Manager for Retail Banking will give financial institutions a leg up on detecting push-payment fraud. The fraud occurs when a consumer …
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June 3, 2021
Acquiring, Competitive Strategies, Credit Cards, E-Commerce, Fraud & Security, Issuing/Originating, Marketing, Mergers & Acquisitions, Mobile Commerce, Mobile Wallets, Near-Field Communication (NFC), Point-of-sale, Prepaid Cards, Transaction Processing
Not quite two years old, LG Pay, the mobile payment service from LG Electronics USA, is shutting down, according to a report on Droid-Life.com. It captured a screenshot of an alert declaring the service will be phased out and discontinued “over the remainder of 2021.” In April, LG announced it was exiting …
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June 2, 2021
Acquiring, Competitive Strategies, E-Commerce, Fraud & Security, Marketing, Mobile Commerce, Transaction Processing
In an effort to stymie card-not-present fraud, which has been on the rise during the Covid-19 pandemic, American Express Co. on Wednesday announced its Enhanced Authorization fraud-detection application is being made available to three major platforms—those of Accertify Inc., Microsoft Corp., and Riskified Ltd.—via an application programming interface. While the …
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June 2, 2021
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Fraud & Security, Issuing/Originating, Mobile Commerce, Transaction Processing
Just as the Covid-19 pandemic spurred many consumers to turn to online shopping, merchants have experienced a corresponding increase in their chargeback rates. Sixty-eight percent of merchants said the pandemic affected their chargeback rates, found the second annual Chargeback Field Report from Chargebacks911, a chargeback-management platform. Clearwater, Fla.-based Chargebacks911 also …
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June 2, 2021
Acquiring, Competitive Strategies, Digital Currency, E-Commerce, Marketing, Mergers & Acquisitions, Point-of-sale, Remote Deposit Capture, Transaction Processing
Mitek Systems Inc., a provider of digital identity-verification technology, said it has acquired ID R&D Inc., a provider of voice and face biometrics technology, for up to $49 million in Mitek stock and cash.Payments processor Fleetcor Technologies Inc. closed on its acquisition of cross-border payments specialist Associated Foreign Exchange Inc. The deal, …
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