Friday , March 29, 2024

News

March, 2024

  • 29 March

    PayPal, Amazon, Apple, And Walmart Are Among the Big Winners in the Interchange Deal

    The transaction-cost savings and tender steering provided for in the big interchange settlement reached earlier this week will be worth hundreds of millions of dollars annually for major merchants and the big mobile-wallet providers, according to estimates provided to Digital Transactions News by San Carlos, Calif.-based payments researcher Crone Consulting. …

  • 29 March

    COMMENTARY: The Great Hope Rising From the Quiet Revolution Against Card Payments

    In the heart of America’s bustling commerce, a subtle yet powerful revolution is unfolding, driven by small merchants. The strategies of offering discounts for cash payments and imposing surcharges for card transactions are at the forefront of this change. These practices, rapidly gaining traction across communities, directly challenge the entrenched …

  • 28 March

    Usio Manages To Grow Revenues Despite a 26% Decline in Payment Volume

    Usio Inc. pulled off a 19% increase in revenues and reduced its losses last year despite a 26% drop in total payment volume processed, according to a new financial filing from the merchant processor. San Antonio, Texas-based Usio provides payment-facilitator services, credit card processing, automated clearing house payments, prepaid card …

  • 28 March

    Refund and Policy Abuse Is Replacing More Common E-Commerce Fraud Attacks, the MRC Finds

    Opening the door to online commerce is an expedient and profitable way to reach consumers, but those with fraud on their minds also find a way in. Now, it is becoming tougher to distinguish those with good intent from the ones with bad intent, especially when formerly good customers start …

  • 28 March

    Discover CEO Leaving and other Digital Transactions News briefs from 3/28/24

    Michael Rhodes has resigned as chief executive and president of Discover Financial Services Inc., effective April 1. Rhodes was “not expected to have a long-term role at the combined company after completion of the Company’s merger with Capital One Financial Corporation,” Discover said in a Form 8-K filed with the Securities and …

  • 27 March

    Buying Groups Might—or Might Not—Give Merchants More Negotiating Power with the Card Networks

    Card-acceptance costs and network rules weren’t the only subjects covered by the sweeping settlement revealed Tuesday involving Visa Inc., Mastercard Inc. and lawyers for the merchants that sued them. The pending agreement, which needs approval from a federal judge, allows for the creation of so-called merchant buying groups that would …

  • 27 March

    Every $1 Dollar in Fraud Costs Retailers $3, LexisNexis Risk Solutions Finds

    Fraud is nothing if not a persistent part of the payments landscape. It became more so in the past 12 months, as 60% of e-commerce merchants and 53% of retailers sustained increases in overall fraud levels, finds LexisNexis Risk Solutions in the 14th edition of its “LexisNexis True Cost of …

  • 27 March

    Visa’s AI-Powered Trio and other Digital Transactions News briefs from 3/27/24

    Visa Inc. announced three technologies leveraging artificial intelligence and aimed at controlling fraud risk, including Visa Deep Authorization, real-time account-to-account payment protection, and extension of Visa Advanced Authorization and Visa Risk Manager to non-Visa card transactions. The services are expected to launch by mid-year. Cantaloupe Inc., a specialist in payments for …

  • 26 March

    Visa And Mastercard Agree to Merchant Rate Cuts and Acceptance Changes in a Major Settlement

    Merchant lawsuits challenging credit card interchange and payment card network rules that began nearly two decades ago may finally be heading for resolution under a landmark settlement announced Tuesday by Visa Inc., Mastercard Inc., and lawyers for the merchants. Merchant lawyers in the massive case estimate the settlement could save …

  • 26 March

    Grocer Coop Expands Instacart Deal With AI-Powered Shopping Carts

    Grocery-ordering and -delivery provider Instacart says Associated Wholesale Grocers Inc., a food wholesaler, expanded its partnership to include e-commerce and same-day delivery services to grocers that belong to the cooperative. The broader deal also includes access to Caper Carts, Instacart’s artificial intelligence-enhanced smart shopping carts. More than 800 AWG grocers …

Digital Transactions