Digital Transactions Authoritative, insightful and timely information for payments professionals
Regulatory changes in its European market have hammered Paysafe Ltd.’s digital wallets, chopping the company’s quarter-to-quarter payments volume and revenue and forcing its top executives to spend a good deal of time Thursday morning explaining the impact to stock analysts. “We are facing challenges in our digital-wallet business. It’s performing …
November, 2021
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11 November
Klarna’s BNPL Comes to Subscriptions and other Digital Transactions News briefs from 11/11/21
Klarna AB said it is extending its Pay in 4 buy now, pay later service to subscriptions, the first time BNPL has been offered to this segment of the economy, according to the company.Payfare Inc., a specialist in instant payouts to gig workers, reported its user count rose 37% in the …
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10 November
A Fast-Growing Affirm Looks to Supercharge Its Expansion With an Exclusive Amazon Deal
Buy now, pay later powerhouse Affirm Inc. will be the exclusive provider of BNPL services for Amazon.com until the end of January, 2023, under a deal Affirm announced Wednesday. Affirm will also be included as an option in Amazon’s wallet, Amazon Pay, according to the agreement. The agreement represents a …
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10 November
Eye On BNPL: Afterpay Expands Its In-Store Presence; Mastercard Installments Expands
In time for the start of holiday-shopping season, buy now, pay later provider Afterpay Ltd. has expanded its in-store presence. New retailers offering the service include Nordstrom and Nordstrom Rack, J.Crew, Madewell, and American Eagle. In addition, Afterpay will be available at airport and resort-casino specialty retailer Marshall Retail Group, …
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10 November
Shift4 Heralds Moves Into New Markets As It Sees End-to-End Volume Nearly Double
Payments processor Shift4 Payments Inc. announced early Wednesday a service outage at a major processor in August cost the company more than $22 million in payments to affected merchants. But it added the Allentown, Pa.-based company is plunging into a range of new markets with major clients including Allegiant Airlines, …
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10 November
Restaurant Specialist Presto To Go Public and other Digital Transactions News briefs from 11/10/21
Presto, a provider of payment tablets for the restaurant industry, said it will go public through a merger with Ventoux CCM Acquisition Corp., a special purpose acquisition company. The deal values the combined company at an estimated $1 billion. Presto, whose clients include major brands like Applebee’s and Outback Steakhouse, …
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9 November
The POS Terminal Backlog Is Opening the Door to Merchant Adoption of Tap-to-Mobile Tech
The continuing shortage of semiconductor chips is creating an opportunity for merchants and consumers to embrace tap-to-mobile payments, according to a study from payments processor NMI. The survey, which polled merchants and consumers in the United States and the United Kingdom, revealed that 95% of merchants said they would consider …
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9 November
Nuvei Revenue up 96% and other Digital Transactions News briefs from 11/9/21
Processor Nuvei Corp. announced it handled $21.6 billion in volume in the third quarter, up 88% year-over-year, with e-commerce accounting for 83% of that total. Revenue grew 96% to $183.9 million. Nuvei completed its initial public offering last month and trades on the Nasdaq.Global business-to-business and business-to-consumer e-commerce volume will hit $6 trillion next year, …
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8 November
PayPal Announces a Venmo Deal With Amazon And a Promising Launch for Its ‘Super App’
PayPal Holdings Inc. announced late Monday U.S. users of its Venmo wallet will be able to use Venmo on Amazon.com Inc.’s massive marketplace and on the Amazon shopping app in the U.S. market, starting in 2022. The news comes as the latest development in a long effort PayPal has engaged …
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8 November
Tipalti Launches a Prepaid Debit Card to Help Facilitate Payroll for the Unbanked
Payables-automation company Tipalti Inc. is partnering with Intercash, a provider of prepaid card solutions, to offer Mastercard-branded prepaid cards in 192 countries, including Latin America and Southeast Asia. Tipalti views the cards, which are available to the general public, as a way for businesses to pay unbanked and underbanked workers …