Digital Transactions Authoritative, insightful and timely information for payments professionals

January, 2024

• 4 January

  Online Holiday Spending Hit a New High In 2023

  

  Online shoppers in the United States spent a record $222.1 billion during the holiday shopping season that ran between Nov. 1 and Dec. 31, a 4.9%increase from the same period a year earlier, according to Adobe Analytics. November was a strong month for online holiday purchases, with consumers spending $123.5 billion …
• 4 January

  Visa’s Web3 Loyalty Play And Other Digital Transactions News briefs from 1/4/24

  

  Visa Inc. launched its Web3 Loyalty Engagement Solution, a platform that enables rewards for consumers who interact with businesses on digital platforms. Vetster, a telehealth provider for veterinary care, announced it is expanding its services in California to include online diagnosis and prescriptions, with online payments. Reacting to heightened check fraud, …
• 3 January

  Wirex’s Latest Move Aims to Protect Users From Dark Web Scams

  

  Digital-payments provider Wirex says it is working with ZeroFox Holdings Inc., a provider of cybersecurity technology, to incorporate ZeroFox’s Dark Web Monitoring app into its platform. Wirex’s blockchain-based service enables consumers to buy, sell, send, spend, and store fiat and crypto currency through the Wirex digital wallet. ZeroFox’s Dark Web …
• 3 January

  RDE Views Its CardCash.com Acquisition As a Boost in the Gift Card Market

  

  RDE Inc., owner of Restaurant.com, a popular dining-deals site, has closed on its acquisition of CardCash Exchange LLC, operator of CardCash.com, a secondary gift card marketplace. The deal advances RDE’s presence in gift cards for consumers and merchants. The combined business accounted for more than $100 million in revenue in …
• 3 January

  Kindcard To Acquire OpenTransact And Other Digital Transactions News briefs from 1/3/24

  

  Kindcard Inc., which among other services provides closed-loop payments technology connecting businesses and consumers, said it has entered a letter of intent to acquire OpenTransact from AcePay Inc. OpenTransact offers a banking platform that supports high-risk merchants. Terms were not disclosed. The tokens USDT and USDC dominate the stablecoin market, …
• 2 January

  BNPL Growth Pegged at 48% And Other Digital Transactions News briefs from 1/2/24

  

  Buy now, pay later volume globally will grow 48.3% in 2024, to $232.2 billion, according to a projection from The Business Research Co. Increasing adoption at physical retail stores, growth in cross-border e-commerce, and the rise of financial apps embedding BNPL capability will help account for the growth, the firm said. …

December, 2023

• 28 December

  Visa Enhances Merchant Security in the Era of Digital Fraud

  

  As the digital economy continues to grow, people are relying on virtual transactions more than ever. But with the expansion of digital money movement comes new opportunities for fraudsters to exploit merchants and their customers. In today’s economy, fraudulent activity can happen anywhere, to just about anyone. Digital cybercriminals are …
• 28 December

  TurboTenant in Lula Fee Deal And Other Digital Transactions News briefs from 12/28/23

  

  TurboTenant, an online property-management platform that enables landlords to collect rent payments, said it will work with Lula, a property-maintenance firm, for maintenance services and payment of service fees. Some 600,000 landlords are said to use TurboTenant’s platform. MoneyGram and Stellar Development Foundation announced they have invested an undisclosed sum in …
• 27 December

  Lowe’s Adopts Apple Pay And Other Digital Transactions News briefs from 12/27/23

  

  The big home-improvement chain Lowe’s has started to accept Apple Pay in its stores, according to reports. The chain, which maintains more than 2,000 U.S. stores, has long accepted Apple Inc.’s mobile-payment service online and in its app.
• 26 December

  Retail Sales up 3.1% And Other Digital Transactions News briefs from 12/26/23

  

  U.S. retail sales, excluding automotive products, grew 3.1% year-over-year in the Nov. 1 through Dec. 24 period, according to Mastercard Inc.’s SpendingPulse. The result is not adjusted for inflation. Standouts were e-commerce sales, up 6.3%, and restaurants, at 7.8%. The worst performer was jewelry, at negative 2%. Blockchain operator Paxos said it will …