Digital Transactions Authoritative, insightful and timely information for payments professionals

April, 2024

• 3 April

  Mastercard Plans a Network Fee Hike for Later This Month. Merchants Aren’t Happy

  

  Mastercard merchants will see a network fee increase later this month when Mastercard increases its Acquirer Brand Volume Fee from 0.13% to 0.14%, effective April 15. The increase comes on the heels of last week’s settlement between Visa and Mastercard, on one hand, and merchants, on the other, in their …
• 3 April

  PayPal And Venmo’s Visa+ Entry Could Aid Interoperable P2P Payments

  

  Enrolling PayPal and Venmo into the Visa+ interoperable peer-to-peer payments system may help foster even more P2P transactions, an analyst says. Visa Inc. earlier this week announced the two P2P wallets from PayPal Holdings Inc. had been enabled in the United States for Visa+. Users can sign up for a …
• 3 April

  Lightspeed Makes Layoffs and other Digital Transactions News briefs from 4/3/24

  

  Canada-based payments processor Lightspeed Commerce Inc. announced it will reduce its headcount by roughly 10%, or 280 jobs, and make other spending cuts in operations and facilities, in a cost-cutting initiative it expects to complete by the end of June. The company has not had a profitable year since going public in …
• 2 April

  Nuvei Strikes a Deal With Advent International to Go Private

  

  Nuvei Corp. announced early Tuesday it has entered into a definitive agreement with private-equity firm Advent International to be taken private in an all-cash deal valued at $6.3 billion. The deal comes less than a month after the Montreal-based processor announced it was fielding offers to take the company private. …
• 2 April

  Wallets Aren’t Prepaid Cards, Says a Federal Judge in Opposing Fee Disclosure Rules From the CFPB

  

  For the second time, PayPal Holdings Inc. has prevailed against the Consumer Financial Protection Bureau. This time, the case involved the Bureau’s effort to require PayPal to make disclosures regarding its fees associated with digital wallets. U.S. District Judge Richard Leon ruled Friday that wallets are not prepaid cards and …
• 2 April

  PayPal, Venmo Activate Visa+ and other Digital Transactions News briefs from 4/2/24

  

  Visa Inc. announced PayPal and Venmo have activated Visa+, its interoperable peer-to-peer payments service that enables users in one P2P service to make a payment to another person using another network. Fintech Current and The Western Union Co. are expected to enable Visa+ next, Visa said. The service’s B2C payout capability has …
• 1 April

  ACI Targets a Growing Digital Payments Market in the Middle East and Africa

  

  ACI Worldwide Inc. announced early Monday it has signed a 10-year partnership with digital-payments technology provider Arab Financial Services. The deal is expected to accelerate ACI’s push to help financial institutions and fintechs in the Middle East and Africa modernize their digital-payments technology infrastructure, according to ACI. Under the terms …
• 1 April

  With a Lower Cost and a No-Chargebacks Promise for Merchants, Pay by Bank Emerges as a Fiserv Priority

  

  Pay by bank is not a new electronic-payments concept—consumers have been paying utility bills with their bank accounts for years—but the promise of lower fees and reduced merchant headaches is energizing the service, and work is at hand developing new use cases. Witness Radial Inc., an e-commerce platform adopting Link …
• 1 April

  AirAsia and Trip.com in Payments Collab and other Digital Transactions News briefs from 4/1/24

  

  Travel platform Trip.com Group said it will work with Capital A Berhad, parent of the airline AirAsia, to support ticketing, payments, and other functions. Visa Inc. has been announced as a founding partner of Bay FC, a new Bay Area women’s professional soccer franchise in the National Women’s Soccer League. Dime Community Bancshares launched …

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. …