Digital Transactions Authoritative, insightful and timely information for payments professionals

October, 2021

• 29 October

  AmEx’s New Debit Card Is Part of a Big Thrust Commercial Banks Should ‘Watch Closely’

  

  With its launch on Thursday of a digital checking account for business and an associated debit card, American Express Co. could be poised to shake up the payments business in ways not seen before, observers say. “This announcement represents the greatest threat to financial institutions who are competing for the …
• 29 October

  COMMENTARY: Are You Asking the Right Questions to Decide on a Payment Operating Model?

  

  Companies offering payment solutions generally face an important decision in their early days: settling on the right operating model. Should we function as a payment facilitator (payfac) and do everything ourselves? Should we register as an acquirer, ISO, or third-party processor? Should we handle risk and underwriting? How should we …
• 29 October

  Amazon One Expands and other Digital Transactions News briefs from 10/29/21

  

  Amazon.com Inc. said its Amazon One technology, which scans customers’ palms to process payments, is now available at more than 70 Amazon physical stores, Whole Foods stores, and third-party locations.Merchant acquirer Shift4 Payments Inc. released a business update indicating its volume for October was 80% higher than the same month in 2020, with the number …
• 28 October

  ‘No Longer a Separation’ Between Online And Offline for Shoppers and Stores, Square Says

  

  If the Covid-19 pandemic has taught merchants anything, it’s that they need to take a radically wider sales approach to engage with customers online and offline, across any device, argues a new report from payments provider Square Inc. The report explores some of the ways merchants are using tools from …
• 28 October

  Mastercard Eyes Deeper Involvement in A2A Transfers And Crypto As It Reports a Strong Third Quarter

  

  Mastercard reported a strong third quarter on Thursday as it builds out the foundations for a near-term future in which it sees itself playing a central role in new transaction flows involving account-to-account (A2A) transfers and digital-currency payments. Mastercard has been laying the groundwork for A2A business for at least …
• 28 October

  AmEx’s First Debit Card and other Digital Transactions News Briefs from 10/28/21

  

  American Express Co. launched a fully digital business checking account for U.S. small and mid-sized businesses that includes the first-ever AmEx-issued debit card. The account also connects with existing AmEx credit cards.FIS Inc.’s Worldpay merchant-acquiring unit will provide payment services to Major League Baseball’s Washington Nationals under a new agreement. The pact includes …
• 27 October

  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 revolutionize …
• 27 October

  [UPDATE] POS Device Maker Pax Draws Scrutiny Following Allegations of ‘Strange Network Activity’

  

  [UPDATED TO REFLECT A STATEMENT FROM PAX] A report released on Tuesday detailing a raid by federal investigators at a Florida warehouse linked to Pax Technology Inc. has stunned the payments industry and left some observers concerned about the big point-of-sale device maker’s reported reaction to allegations its technology was …
• 27 October

  Fiserv’s Merchant Volume Jumps 20% and other Digital Transactions News briefs from 10/27/21

  

  Global merchant dollar volume grew 20% in the third quarter year-over-year for processor Fiserv Inc., while global e-commerce volume increased 21%, the company reported. Overall global transactions expanded 16%. The company did not report actual figures. Revenue for the quarter was $3.96 billion, up 10%. Year-to-date revenue was $11.37 billion, an …
• 26 October

  BNPL Offers Big Potential for Market Share But Also Flashes Caution Signs for the Unwary, a Panel Says

  

  The rapidly unfolding buy now, pay later business holds huge potential for point-of-sale lenders but flashes caution signs for players that jump in without doing their homework, a panel of experts said Tuesday at the Money 20/20 exposition in Las Vegas. The BNPL product, which generally allows shoppers to pay …