Digital Transactions Authoritative, insightful and timely information for payments professionals
Eric Cohen’s Commentary, “Whey the Credit Card Competition Act Falls Short,” posted here Oct. 9, makes three key claims about how the Credit Card Competition Act would supposedly harm small businesses and consumers. All of them are wrong.First, he says the bill would allow merchants “to choose their own network” …
October, 2023
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13 October
Nacha Unit Releases Cyberattack Exercise And Other Digital Transactions News briefs from 10/13/23
The Payments Innovation Alliance released what it calls a tabletop exercise designed to help small and mid-size businesses prepare defenses against a cyberattack. The PIA is part of Nacha, the network operator for the automated clearing house network. Transact Campus Inc., a payments platform specializing in college campuses, announced a technical …
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12 October
An Acquisitive Celero Closes on Its 10th Deal, This Time for Finical Holdings
Celero Commerce announced late Wednesday it has acquired Finical Holdings LLC for an undisclosed sum. The acquisition, which is the tenth Celero has made since its launch in late 2018, will increase the company’s annual card processing volume to $25 billion and enlarge its presence in the Southwestern U.S. market, …
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12 October
Eye on Acquiring: Worldline’s E-Commerce Partner Payouts; Payroc Is Ingenico Axium Launch Partner
Processor Worldline is adding a flexible payment element to its revenue-share model for its North America partners servicing e-commerce merchants. And, payments provider Payroc says it will be the launch partner for the Ingenico Axium point-of-sale terminal line. Worldline’s new product, called FlexCommissions, enables its software and independent sales organization …
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12 October
Fiserv Secures Data Plan with Plaid And Other Digital Transactions News briefs from 10/12/23
An agreement between processor Fiserv Inc. and open-banking platform Plaid will allow consumers who use any of Fiserv’s 3,000 client banks to share financial information with third-party apps and services. Discover Financial Services’ Discover Global Network launched a cloud-based version of its stored payment tokens service. Tokens are digital replacements for actual card credentials. …
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11 October
Data Compromises Hit a Record High in 2023, Despite a Third-Quarter Drop
Data compromises in the U.S. market for the first three quarters of 2023 totaled 2,116, a record high for the first nine months of a calendar year, according to the Identity Theft Resource Center. The previous high was set in 2021, when 1,862 compromises were recorded over the first nine …
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11 October
Eye on Restaurants: Presto Voice Is Gaining Traction; Lunchbox Taps Finix for Online Payments
Presto Automation Inc. says its voice-ordering system for restaurants represents a $17-million annual revenue opportunity as the company finishes its first full year as a public company. San Carlos, Calif.-based Presto finished the fiscal year ended June 30 with revenue of $26.1 million, a 14.1% decrease from $30.4 million the …
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11 October
Klarna’s AI Shopping Aid And Other Digital Transactions News briefs from 10/11/23
Payments platform Klarna AB announced a series of new services, including Shopping lens, which enables shoppers to take a picture of an item in their surroundings to find out where to buy it on the best terms. The service uses artificial intelligence to render the item in a search term. Technology consultancy Thoughtworks said …
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10 October
Orum Launches an Instant Account Verification Solution for FedNow
Orum, a provider of technology for payment processing and account verification, announced Tuesday the launch of Verify, an account-verification solution for FedNow, the Federal Reserve’s instant-payment service, which launched in July. With Verify, businesses initiating a payment through FedNow can validate, within 15 seconds prior to sending funds, whether a …
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10 October
GoDaddy Says It Will Integrate Early Warning’s New Paze Online Checkout, Now Coming in 2024
Paze, an online wallet still in development, will be available to merchants using GoDaddy Inc.’s Web services. Paze is available for testing to select U.S. businesses on the GoDaddy platform. In March, at the announcement of Paze, Early Warning Services LLC, its developer, said full availability would arrive this autumn, …