Digital Transactions Authoritative, insightful and timely information for payments professionals
- Nacha announced the first transactions on its Phixius network, which facilitates information exchange between payors and payees using the automated clearing house network. The Phixius network relies on standardized open application programming interfaces. Nacha announced in February its intention to develop Phixius. Visa Inc. joined in August.
- Authentication services provider Paay and Bluefin Payment Systems, a tokenization and encryption specialist, said they are working on a new security service that combines 3-D Secure, hardware-based encryption, and vaultless tokenization.
- Gaming-industry payments provider Mazooma said it is working with data network Plaid Inc. to enable instant bank transfers for igaming and sports-wagering operators in states where the activity is regulated. Visa Inc. announced in January a deal to buy Plaid for $5.3 billion, but the proposed transaction has drawn an antitrust lawsuit from the U.S. Department of Justice.
- Buy now, pay later provider Quadpay Inc. said it acquired Urge Holdings, developer of a fashion search engine, for approximately $6.1 million.
- Covid-19 will influence but not drown out holiday shopping this year, with 80% of consumers planning to buy gifts and 58% intending to spend the same as last year, according to a survey of 3,120 consumers by payments provider InComm Payments. Some 15% plan to spend more.
- Many consumers—48%—plan to spend less this holiday shopping season, found a survey from Ondot Systems, a digital card services platform. Also, there’s a shift to online with 58% planning to spend less in person, while 39% intend to increase their online spending. More than 27% will increase their spending through a phone or mobile app.
- Mastercard Inc. announced its City Possible network has expanded to 220 city members and candidate cities after launching with 16 founding members in November 2018. The project aims at widening access to city services, including urban mobility.
- Card manufacturer CPI Card Group Inc. announced an integration with Sharetec System, which provides credit union services, to enable instant issuing of EMV-compliant and dual-interface capable payment cards for Sharetec clients.
- Discover Network signed an agreement with Lebanon’s areeba network giving Discover, Diners Club International, Pulse, and Network Alliance cardholders access to point-of-sale and e-commerce sites linked to areeba.
- Microsoft Corp. is working with U.S.-based cross-border payments provider dLocal to launch credit and debit card acquiring in Nigeria as part of an effort by the two companies to enable local payments methods in emerging markets.
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