Digital Transactions Authoritative, insightful and timely information for payments professionals
With the Federal Reserve’s announcement last week that it will launch its FedNow real-time payments service in July, technology firms are jockeying for position as the appetite for faster payments grows worldwide. One big development emerged early Tuesday with an announcement from London-based payments-software firm Finastra Group Holdings Ltd. that …
March, 2023
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21 March
Bitcoin Depot Adds More ATMs And Other Digital Transactions News briefs from 3/21/23
Lux Vending LLC, which does business as Bitcoin ATM operator Bitcoin Depot Inc., has agreed to deploy its machines in 125 locations owned by convenience-store chain GetGo Cafe + Market. Overall, Bitcoin Depot operates approximately 7,000 machines in 48 states and 10 Canadian provinces. Digital-currency provider Circle Internet Financial LLC said it has …
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20 March
Agile Financial Systems Unveils Revolutionary, Innovative Product Suite
APEX family of products designed to help businesses compete and grow in the marketplace Southlake, Texas based Agile Financial Systems (AFS) is a high growth financial technology company founded in 2017. Backed by an executive team with over 100 years of combined industry experience, the organization’s mission is to …
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20 March
Fiserv Teams Up With Central Payments to Deliver Banking-as-a-Service to Fintechs
Fiserv Inc. is partnering with Central Payments LLC, a provider of banking-as-a-service for fintechs and embedded-finance businesses, to enable fintechs to bring financial products and services to market faster. Central Payments will leverage Fiserv’s real-time card-processing and -issuance capabilities to enhance its Open CP Fintech API Marketplace, a banking-as-a-service platform …
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20 March
Mastercard Snaps up Baffin Bay Networks for a Cybersecurity Boost
Mastercard Inc. is adding another arrow of digital-security technology in its cybersecurity quiver with the acquisition of Baffin Bay Networks, a Sweden-based cybersecurity company. Payments companies constantly need advanced ways to counter fraud because criminals are relentless. In fact, credit card fraud accounted for 6.2% of digital fraud in 2020, …
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20 March
WebbRes Picks Preferred And Other Digital Transactions News briefs from 3/20/23
Payments-technology fintech Preferred Payments is working with WebbRes, a provider of management systems for trailer dealers, to enable dealers to process payments within the WebbRes platform. Ascend, a provider of payments technology to the insurance industry, announced an integration with the AMS360 agency-management platform from Vertafore. The Western Union Co. said money transfers …
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17 March
Banks Can Compete In BNPL, But Must Build Consumer Awareness at the POS, J.D. Power Says
While the growth in buy now, later loans is prompting card issuers to enter the fray, one challenge they face is creating awareness, as card issuers do not make their BNPL offerings available at the point-of-sale. This is unlike BNPL specialists such as Affirm Holdings Inc., Klarna AB, and Sezzle …
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17 March
How ‘Fraud-as-a-Service’ Is Leading to the ‘Democratization’ of Online Crime
E-commerce wasn’t the only market that ballooned after the pandemic set in. Fraud took off, too, and attracted novice practitioners in the bargain. Of more than 1,000 consumers surveyed by Sift Science Inc. for a report it released Thursday, some 16% admitted they had committed payment fraud, or knew someone …
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17 March
U.S. One of Two Markets with No Contactless Cap and other Digital Transactions News briefs from 3/17/23
Merchant Machine, a United Kingdom-based payments information and comparison site, issued a report on contactless transaction limits around the world. Only two nations, Ecuador and the United States have no limit, though banks or merchants may set their own limits, Merchant Machine said. Payments-technology provider BHMI announced an entity-relationship component for its …
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16 March
‘Pig Butchering’ Is the Latest Scam to Defraud Consumers of Cryptocurrency
As if cryptocurrency didn’t have enough problems with the financial failure of the major FTX exchange, plummeting values, and, most recently, links to two of the biggest bank failures in U.S. history, now criminals are running scams built around crypto trading to defraud consumers. The scams, known as “pig butchering,” …