Digital Transactions Authoritative, insightful and timely information for payments professionals
- Digital wallets accounted for $13.9 trillion in payments volume last year, or 50% of e-commerce and 30% of point-of-sale spending, according to Worldpay’s Global Payments Report 2024. This will grow to more than $25 trillion by 2027, or 49% of combined point-of-sale and online volume, the report forecasts.
- Automated clearing house network Nacha released its top 50 originating and receiving financial institutions by volume in 2023. Wells Fargo & Co., was the top originating FI and Bank of America Corp. was the top receiver.
- Payments provider Payzli chose DisputeHelp, a service from ChargebackHelp, to bolster their merchants’ efforts to deflect first-party fraud, prevent chargebacks, and manage representments.
- Payments platform Airwallex, in conjunction with consulting firm Edgar, Dunn & Co., released a report that found 77% of consumers would abandon a shopping cart if their preferred payment method was not offered. The research was conducted in the first quarter of 3,010 global consumers and interviews with merchants.
- Payments technology provider Bluefin Payment Systems LLC said 23 devices, six applications, and three key injection facilities have been added to its Encryption Management Services P2PE Component listing.
- Health-care technology firm Zelis and health-data network Availity said they will work together to streamline payments flows and other end-to-end processes between payees and providers.
- Digital security and fraud prevention provider Darwinium has added behavioral identification technology to its security and fraud prevention service.
- The board of directors for the big payments processor Worldline proposed director Wilfried Verstraete for election to board chairman, with board election expected June 13. At the same time, the board’s size is expected to decrease from 15 to 12 members.
- PSCU/Co-Op Solutions appointed Vel Davidov executive vice president and chief financial officer and Michael Summers as executive vice president and chief culture officer of the credit union service organization.
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