Digital Transactions Authoritative, insightful and timely information for payments professionals

January, 2022

• 10 January

  The ETA Urges Rules That Foster Innovation in Crypto, CBDCs, And Other Major Issues

  

  Central bank digital currencies, cryptoassets, and privacy are three major priorities for the Electronic Transactions Association in 2022, the payments industry’s top lobbying group announced late Friday. All three are hot-button topics featuring strong opinions on opposing sides, presenting the payments industry with an uncertain roadmap for navigating the issues …
• 10 January

  Prepaid Card Volume Forecast and other Digital Transactions News briefs from 1/10/22

  

  Transactions on prepaid cards worldwide reached $2.3 trillion last year and will exceed $4.1 trillion in 2026, according to Juniper Research. Over the same time span, fee revenue will grow from $22 billion to $32 billion.Payments fintech AppTech Payments Corp. said it closed on a $15-million public offering and announced its listing on the …
• 7 January

  Most Financial Services Firms Report Increases in Fraud Targeting Mobile

  

  With mobile-device use firmly ingrained in consumer behavior, it’s little wonder that fraudsters are following these consumers. That’s very apparent in the latest LexisNexis Risk Solutions report, which found 98% of financial-services firms it surveyed reported that fraud targeting mobile has increased. These increases also meant the cost of the …
• 7 January

  New Data From Mastercard Confirm the Explosion in Online Volume Is Still in Progress

  

  E-commerce was hitting its stride before the pandemic, but two years later it’s clear sales volume via desktop and mobile devices is exploding. Online sales in the United States jumped fully 60.4% in December compared to December in 2019, according to the latest SpendingPulse report from Mastercard Inc., released late …
• 7 January

  U.S. Bank’s Real-Time Bill Payment for Consumers Coming and other Digital Transactions News briefs from 1/7/22

  

  U.S. Bank said it will launch in the first quarter a real-time payments component to its bill service. It will use the Request for Payment tool that is part of The Clearing House Payments Co. LLC’s Real Time Payments service. The same service launched for U.S. Bank business customers in November.Cloud-software …
• 6 January

  PayFacto Strengthens Its Hand in Restaurant POS With an Acquisition of Online Ordering App iShop

  

  PayFacto Inc., a payment solutions provider specializing in the hospitality industry, announced Thursday the acquisition of iShop, a technology provider for restaurants. The deal, for which terms were not disclosed, gives Montreal-based PayFacto an in-house online-ordering solution, something the company found was missing in its technology stack. As a result, …
• 6 January

  Eye on Crypto: CSI Ushers Community Banks Into Bitcoin; MoneyGram Invests in Coinme

  

  Dismissed until recently by many in the payments industry as a fantasy, cryptocurrency as a payments medium continues to step toward center stage. Early Thursday, transaction processor Computer Services Inc. said it will work with NYDIG to help community banks support their customers who want to buy, sell, or hold …
• 6 January

  VeriCheck Acquires Applied Payments and other Digital Transactions News briefs from 1/6/22

  

  Fintech VeriCheck Inc. announced it has acquired Applied Payments LLC, which does business as ACHWorks, a payment-services provider specializing in automated clearing house transactions. Terms were not announced.Buy now, pay later provider Afterpay Ltd. said in-store shopping from its customers soared 384% year-over-year for the Oct. 1 to Dec. 27 period. Afterpay, available in …
• 5 January

  What’s hiding in your customer lists?

  

  By GIACT (a Refinitiv company)   One of the greatest challenges is accurately verifying that current customer or vendor information is up-to-date and not being utilized for fraud. Customer lists can be full of outdated and incorrect information, fraudulent profiles and abandoned accounts. Not addressing these profiles can lead to …
• 5 January

  Synovus Launches Virtual Mobile Commercial Cards for Workers, Vendors, And Others

  

  As part of its strategy to bring digital- and mobile-banking experiences to its customers, Synovus Financial Corp. has introduced a mobile virtual commercial credit card. The Visa Inc.-branded cards, which businesses can generate and send to employees, vendors, and contractors through a mobile app, will be enabled in a digital …