Digital Transactions Authoritative, insightful and timely information for payments professionals
The U.S. Supreme Court early Thursday upheld the constitutionality of the Consumer Financial Protection Bureau by a 7-2 vote, reversing an October 2022 ruling by a federal appeals court in New Orleans that had held the means by which the bureau is funded violates the U.S. Constitution. The CFPB, created in 2008, receives its …
May, 2024
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15 May
Eye On Travel: Worldline’s Virtual Card Platform; Consumers Are Traveling More
The big processor Worldline S.A. is working with Visa Inc. to launch a virtual business-to-business card-issuing facility for online travel agencies. The deal marks the first foray for Paris-based Worldline beyond payment processing. The partnership will integrate Worldline’s Merchant Services Acceptance capabilities with its Financial Services Card issuing platform to …
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15 May
Eye on ISVs: Booksy Adds Tap to Pay on iPhone; Usio Could See $20 Million in Revenue From a Single ISV
With an eye to making it easier for consumers to pay how they want, Booksy Inc., a booking platform for beauty-service appointments, is adding Tap to Pay on iPhone as an option. The contactless payment method enables consumers to use their contactless credit or debit cards, or an iPhone with …
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15 May
Flywire Widens Invoicing Access and other Digital Transactions News briefs from 5/15/24
Flywire Corp., a specialist in payments for higher education, said it has widened the availability of its third-party invoicing platform, which lets third parties pay tuition and fees on behalf of students. Buy now, pay later provider Afterpay said Gen Z consumers—those born between 1997 and 2012—increased first-quarter 2024 spending at small …
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14 May
Merchants And Banks Prepare for Battle Over the Fed’s Proposed Debit Adjustments
The National Retail Federation and the Merchants Payments Coalition have lined up against the Federal Reserve, arguing that while a rate reduction on debit card transactions is welcome, the Fed’s proposed pricing does not go far enough. The two industry trade groups sent their respective letters to the Fed on …
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14 May
Results Improve for Paysafe As the Processor Looks to Beef up Its Internal Sales Staff
Paysafe Ltd. wants to do more to sign merchants directly, and to that end it’s hiring salespeople—lots of them. The London-based merchant processor, which has a big operation in North America and aspirations for a larger one, hired 55 salespeople in the first quarter and plans to add 170 in …
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14 May
Square’s Restaurant Boosts and other Digital Transactions News briefs from 5/14/24
Block Inc.’s Square point-of-sale technology unit announced a slew of restaurant initiatives, including a link with distributor Performance Foodservice to market Square to 125,000 U.S. and Canada-based clients; integrations with dining-technology providers; links to restaurant associations in Illinois, California, and New York state; and a recommendation engine based on machine learning. Square …
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13 May
Consumer Delinquencies Are Piling up As Covid Stimulus Wears Off
As the effects of the economic stimulus pumped into the economy by the federal government during the pandemic wear off, consumers are having a harder time paying their recurring debts on time. A study released Monday by Achieve, a San Mateo, Calif.-based provider of debt-management programs for consumers, reveals that …
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13 May
Eye on Restaurants: Digital POS Hasn’t Changed Tipping Much, Survey Says; Shift4 Acquires Revel
More Americans are being asked to tip, but it doesn’t seem to have much positive impact for some workers, especially those employed by restaurants. Only 29% of these workers say their tips have increased in the past year, according to the “Beyond Gratuity: Perspective of Restaurant Staff Tipping Practices” report …
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13 May
Just 38 Developers Take Apple’s Offer and other Digital Transactions News briefs from 5/13/24
Just 38 app developers have so far applied to Apple Inc. to enable payment processors outside of Apple’s proprietary payment system, the iPhone maker said. That’s out of 65,000 developers that were eligible to apply, according to Bloomberg. The report follows legal action that required Apple to make the alternatives available for apps. Ohio-based …