Digital Transactions Authoritative, insightful and timely information for payments professionals
E-commerce sales increased 11% in the Nov. 1 to Dec. 24 period compared to the same time last year, and were up 61.4% from the same time in 2019, according to the latest Mastercard SpendingPulse report.Fintech Aizen Global Co. Ltd. said it is working with BNY Mellon to develop banking-as-a-service for banks and …
December, 2021
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23 December
How the ACH May Have Been the Winner of the Pandemic Payments Sweepstakes
The share of payments claimed by the automated clearing house rose faster in 2020 than the share for cards, while checks dropped markedly. All the while, the share of payments claimed by cards, which had been steadily on the rise for years, flattened out. And while contactless transactions did rise …
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23 December
The CHUCK Network’s Focus: Create A Better P2P Experience, Not Compete With Zelle
Rather than compete directly with Zelle and other peer-to-peer payment networks, the recently launched CHUCK network plans to position itself as a P2P network that eases money transfers for users, officials say. One such feature in the works is the ability for users to create a directory of destinations to allow …
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23 December
Colony Bankcorp Launches Merchant-Acquiring Division and other Digital Transactions News briefs from 12/23/21
Colony Bankcorp Inc. announced it has launched a merchant-acquiring division led by Steve Raines as director for merchant services. Raines most recently was director at Synovus Merchant Services.Laurentian Bank of Canada said it will work with the card-issuing platform Brim Financial to issue Visa products in 2022, with features including instant virtual …
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22 December
Community Banks Launch Chuck, Their Own Peer-to-Peer Payments Network
A new competitor in the peer-to-peer payments landscape emerged Wednesday with the introduction of CHUCK, an open-loop P2P network founded by 10 community banks. The new network uses technology from digital payments platform provider Payrailz that enables customers of any of the member banks to send money to a debit card …
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22 December
Fingerprint Signs a Deal to Bring Its Iris-Recognition Tech to Devices From Indian Firm Mantra
Fingerprint Cards AB early Wednesday said it has agreed to provide iris-recognition technology to Mantra Softech India Pvt Ltd., said to be the largest provider in India of biometric devices and sensors. Terms of the multi-year contract were not disclosed. Under the terms of the deal, Mantra will deploy the …
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22 December
Mastercard Acquires Dynamic Yield and other Digital Transactions News briefs from 12/22/21
Mastercard Inc. said it is acquiring Dynamic Yield, a data personalization platform, from McDonald’s Corp. Terms of the deal were not disclosed.The University of Kansas has agreed to support the Passport app to pay for parking at 3,600 spaces across the campus. More than 800 cities, universities, and private operators now deploy Passport, …
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21 December
Eye On Crypto: BitPay Waives Card Fees for Crypto Purchases, Humbl Adds an ACH Integration
To make cryptocurrency more accessible to the general public, BitPay Inc. on Tuesday announced a limited-time promotion with Simplex, a fiat-to-cryptocurrency gateway, to waive fees when BitPay wallet users purchase crypto using a credit or debit card. BitPay wallet users can buy the currency using the BitPay debit card or …
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21 December
Ransomware May Be Terrorism, But Security Pros Differ Markedly in How to Deal With It
Security professionals around the world equate ransomware attacks with terrorism, but they differ markedly from country to country in their willingness to play ball with the attackers. That’s according to survey results released Tuesday that gathered data from more than 1,500 security executives in the United States, the United Kingdom, …
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21 December
Affirm Adds Two More Merchants and other Digital Transactions News briefs from 12/21/21
Buy now, pay later provider Affirm Inc. signed electronics retailer Newegg Commerce Inc. and The Passport Place, a travel document consultant, as new merchants.Payments platform Mogo Inc. said it has received regulatory approval in Canada to launch MogoTrade, a commission-free stock-trading service.Visa Inc. announced it has closed on its acquisition of Currencycloud, a provider of cloud-based technology …