Digital Transactions Authoritative, insightful and timely information for payments professionals
A processing failure has interfered with direct deposit of payroll for an undetermined number of businesses using Intuit Inc.’s QuickBooks payroll service. In response to numerous posts on Twitter about the incident, Intuit posted a link to the following notice: “Some payroll customers are reporting they have not received their direct deposit …
April, 2021
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29 April
How the Pieces of Mastercard’s ‘Multirail’ Strategy Are Starting to Fit Together
You wouldn’t always know it, listening to the top executives at Visa and Mastercard, but these two rival networks are still chiefly card networks. Thursday morning, Mastercard Inc. laid out for equity analysts an update on what it has called its “multirail strategy,” major moves into account-to-account money transfers, real-time payments, …
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29 April
Square’s New ACH Feature for Invoices Aims at Larger Sellers
To help large businesses reduce payment transaction costs and provide another option for how they receive payments, Square Inc. on Wednesday announced it will accept automated clearing house payments on Square Invoices. The addition of ACH payments could also enable Square to attract large, complex businesses—such as wholesalers, home-repair specialists, …
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29 April
FIS Unveils RealNet, a Network-of-Networks Approach to Real Time Payments
The real-time payments movement continues to build momentum in the United States with FIS Inc.’s announcement Wednesday of RealNet, a cloud-based, software-as-a-service platform that enables businesses, consumers, and governments to initiate account-to-account transactions. RealNet, which FIS describes as a network of networks, will leverage The Clearing House Payment Co. LLC’s …
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29 April
SMBs Value Digital Payments More Than a Year Ago and other Digital Transactions News briefs from 4/29/21
A survey from the Electronic Transactions Association and The Strawhecker Group found that 43% of small and mid-size businesses view digital payments as more important to their operations now than before the Covid-19 pandemic. The survey of 528 SMBs also found that 34% said they are experiencing an increase in contactless payments.InComm …
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28 April
Shopify’s Wallet Gets a Lift as its Shop App Climbs to 19 Million Active Users
Everyone has heard of Amazon, but there’s less talk about Canada’s Shopify Inc., even though the fast-growing, Ottawa-based commerce platform now ranks second to Amazon in share of retail e-commerce sales, with 8.6% versus 39% for the Seattle-based giant, according to eMarketer. On Wednesday, Shopify issued an update on just …
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28 April
Redefining the “I” in ISO as Integration
Payment integrations are helping ISOs maximize revenue and enhance the customer experience By: Oscar Lopez, Director of Sales, Strategic Partnerships, First American Payment Systems Independent Sales Organizations are focusing more and more on payments integration, and for good reason. Accelerated by the pandemic and consumer demand, card not present payments …
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28 April
FIS RealNet Debuts and other Digital Transactions News briefs from 4/28/21
FIS Inc. debuted FIS RealNet, a software-as-a-service platform that enables account-to-account transactions for businesses, consumers, and governments over real-time payment networks. Available now in the United States, the service will be available in the United Kingdom and Europe, with other markets to follow.Visa Inc. said it is extending fast-payout service Visa Direct …
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27 April
Visa Posts Strong Results As It Enters ‘The Beginning of the End of the Pandemic’
Payments companies took a beating as the pandemic raged, but Visa Inc.’s top brass indicated Tuesday afternoon the big network has put the worst behind it. “We believe we are at the beginning of the end of the pandemic,” said chief executive and chairman Al Kelly as he pointed to …
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27 April
Fiserv Announces a Strong First Quarter As It Teams With PayPal on QR Codes
Fiserv Inc. announced Tuesday morning it will enable QR code payments for consumers using PayPal or Venmo at merchants Fiserv processes for through its Clover devices or Carat omnichannel payment systems. Users of the PayPal or Venmo app will scan a QR code with their phone and can receive a …