Digital Transactions Authoritative, insightful and timely information for payments professionals
The Federal Reserve reported late Monday it has received more than 110 expressions of interest from financial institutions and processors for a real-time payments pilot program slated to start later this quarter. That number exceeds the 80 entities the Fed expected to participate in the pilot for the FedNow service, …
January, 2021
-
25 January
It’s Official: NCR Succeeds In Its Bid to Acquire Cardtronics in a $2.5-Billion Deal
NCR Corp. entered into a definitive agreement Monday to acquire ATM network operator Cardtronics plc for $39 a share in an all-cash transaction valued at $2.5 billion, including debt. The deal, which NCR plans to finance with cash on hand and financing from Bank of America N.A., is projected to …
-
25 January
MoneyGram’s Links to Visa Direct And Checkout.com Hike the Stakes in Near Real Time Remittances
The remittance giants haven’t been shy over the last two years in adopting card-network technology and local payments services to close the last mile for fast transfers directly to users’ mobile devices. And MoneyGram International Inc. on Friday played its latest card in this market with an arrangement that will …
-
25 January
Debit Card Growth Outpaces Credit Cards and other Digital Transactions News briefs from 1/25/21
Growing numbers of consumers continue to grab their debit cards when shopping, with the overall U.S. spend made with debit cards up 25% for the week ending Jan. 17, compared to the week of Jan. 19, 2020, according to the PSCU Tracking Transaction Trends report issued Monday. Credit card spend was up …
-
22 January
Mindbody Adds Flex, a Subscription-Payment Fitness Program
Mindbody Inc., a provider of payments services and wellness software to the health and fitness industry, is adding a direct-to-consumer virtual membership program. Dubbed Mindbody Flex, the subscription service offers virtual access to more than 450 independent studios offering virtual fitness and wellness classes. Pricing starts at $39 per month …
-
22 January
Checkbook.io’s Link to Plaid Looks To Bring Verification to Real-Time Payments
As the payments business moves toward faster settlement, verifying payor accounts becomes crucial, yet for non-card payments, “there’s a gap there,” notes Patricia Hewitt, principal at PG Research & Advisory Services LLC, a Savannah, Ga.-based payments consultancy. On Thursday, Checkbook Inc., a San Mateo, Calif.-based startup, announced a step toward …
-
22 January
Rellevate To Power Richard Petty Gift Cards and other Digital Transactions News briefs from 1/22/21
Fintech Rellevate Inc. announced a multiyear licensing and distribution agreement with Richard Petty Motorsports for gift and reward cards depicting NASCAR icon Richard Petty. The cards will be issued by Sutton Bank.CommentSold, a 3-year-old social e-commerce site, said it added 2,000 merchants in 2020 and saw record growth in gross merchandise value …
-
21 January
Discover Posts Volume Gains for Its Payments Properties But Logs an Overall Revenue Drop
Discover Financial Services reported mixed results Thursday for the fourth quarter of 2020. Despite a 4% decline year-over-year in revenue, which totaled $2.82 billion, Discover’s net income rose 13% to $799 million. Payment Services volume totaled $70.1 billion, up 6% year-over-year, with all four legs that comprise the division—the Discover …
-
21 January
As Consumers And Businesses Turn to Electronic Channels, ACH Growth Accelerates
For the nation’s automated clearing house network, payments trends already under way before the coronavirus pandemic are still unfolding—only faster. ACH payments initiated on the Web to pay bills and make other transfers totaled 2.1 billion in 2020’s fourth quarter, a 15.2% increase year-over-year, Nacha reported Thursday. Herndon, Va.-based Nacha …
-
21 January
Nuvei Lands Tennessee Sports-Betting OK and other Digital Transactions News briefs from 1/21/21
Nuvei Corp. said a wholly owned subsidiary has been approved to process sports-betting transactions in Tennessee, where sports wagers have been legal since 2019. Previously, Nuvei received approval to process sports betting in Colorado, Indiana, and West Virginia.Point-of-sale system provider Revel Systems said majority owner Welsh, Carson, Anderson & Stowe made another investment …