Digital Transactions Authoritative, insightful and timely information for payments professionals
• SuperCom Ltd., an Israel-based identity-verification company, bought PowaPOS, the tablet-based point-of-sale unit of Powa Technologies Ltd., a commerce company that floundered. Powa’s two other units, PowaWeb and PowaTag, already have been sold. • American Express Co. reported $176.3 billion in U.S. card-billed business during the first quarter, up 4% from a …
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Trunk Show Event Marks a First for Amazon Payments in a Store
Online retailer Amazon.com Inc. has taken another step to broadening the reach of its payments service with the debut Friday of an in-store payment service at a New York apparel retailer. This marks the first time Amazon payments has enabled in-store payments with a merchant, Amazon says. Just a couple …
Read More »ACH Alert Thwarts $615 Million in Fraud and other Digital Transactions News briefs
• Fidelity National Information Services Inc. and The Clearing House Payments Co. LLC announced they will launch a pilot for real-time payments in the first quarter of next year. The system will focus initially on bill payments and will use FIS technology along with The Clearing House’s real-time payment platform. …
Read More »Rash of Breaches Bedevils Merchants With a Fast-Rising Rate of Fraud, Lexis-Nexis Finds
Retailers are contending with a markedly higher level of fraud this year than they did in 2015, with the fraud rate increasing from 1.32% of revenue to 1.47%, finds the 2016 LexisNexis True Cost of Fraud study. Last year marked the first time the rate was greater than 1%. When …
Read More »Cachet Renews Ingo Money Deal and other Digital Transactions News briefs
• Prepaid card provider Green Dot Corp., under pressure from an activist investor to boost earnings, announced it would buy $50 million of its Class A common shares under an accelerated stock-repurchase plan. • Remote deposit capture and mobile-payments technology provider Cachet Financial Solutions Inc. will continue to provide …
Read More »For Payments Newbies, Funding Deals Remain Plentiful But Checks Get Smaller
Funding activity for startups in the payments business continued at a hectic pace over the past six months—but the total dollars invested fell through the floor. There were 75 funding deals in the first quarter totaling $396 million, according to the latest data from CB Insights, a New York City-based …
Read More »Will Credit Card Surcharging Become the Norm in 2016, as One Analyst Prophesies?
Though merchants have been permitted since 2013 to add surcharge fees to credit card transactions, it’s only in 2016 and 2017 that the practice will become the norm, ushering in a new phase of a sometimes contentious relationship between merchants, the payment card industry, and consumers. That’s the assertion of …
Read More »Consumers Seek Online Payments Security Assurances: Survey
As online shopping continues to grow, consumer anxiety about the security of the payment card credentials on e-commerce sites remains a top concern. Some 48% of consumers want more assurances about their online shopping security, finds a survey released Wednesday by Tender Armor. The survey of more than 1,000 consumers, …
Read More »TSYS Completes Its TransFirst Deal and other Digital Transactions News briefs
• VeriFone Systems Inc. introduced Verifone Carbon, a black, portable point-of-sale system for café owners, quick-service restaurants, and stores that features a tablet screen for the merchant and a smaller screen for the customer, and a stand with a built-in printer. The Intel-powered device includes VeriFone’s cloud-based Commerce Platform that …
Read More »A Rude Awakening
Jolted by some shocking failures over the past several months, the mobile-acceptance market is fast shedding its early euphoria. What are the prospects for mPOS now? As boardroom dramas go, it seldom gets more compelling than this. In February, news suddenly emerged that Powa Technologies Ltd., a high-flying London-based startup …
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