Digital Transactions Authoritative, insightful and timely information for payments professionals

January, 2021

• 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 …
• 20 January

  Peoples Trust Launches Deposit Insurance on Prepaid Cards In Canada

  

  In a new twist on prepaid cards in Canada, Vancouver-based Peoples Trust Co. is extending eligibility for deposit insurance from the Canadian Deposit Insurance Corp. to general-purpose reloadable prepaid cards and payroll cards issued by the financial institution.  The CDIC ruled in 2020 that prepaid cards can be eligible for …
• 20 January

  A Look at the Dark Web Shows How Thieves Market Payment Data—And the Prices They Get

  

  Much has been written over the years about the seemingly unending succession of data breaches involving credit card and other personal payment data. But little is known about the so-called dark Web, the sites where these data thieves set up shop to sell what they’ve pilfered. It turns out these …
• 20 January

  Restaurant Volume Dips and other Digital Transactions News briefs from 1/20/21

  

  Transaction volume for hotels and restaurants fell between 40% and 50% in December compared to December 2019, according to numbers released by payments provider Shift4 Payments Inc. Retail and e-commerce businesses, on the other hand, saw a year-over-year increase in volume last month for the first time since the pandemic set in.Xformative …
• 19 January

  Walmart Adds to Its Financial Services With Western Union Money Transfers at U.S. Stores

  

  Walmart Inc. is adding money-transfer services from The Western Union Co. to its more than 4,700 U.S. stores this spring, the giant retailer announced Tuesday. Western Union will be the third money-transfer provider to be offered at Walmart stores, joining MoneyGram International Inc. and Ria, a subsidiary of Euronet Worldwide …
• 19 January

  PPRO Secures $180 Million in Funding and other Digital Transactions News briefs from 1/19/21

  

  Payments provide PPRO Financial Ltd. announced a $180-million funding round valuing the company at more than $1 billion.AeroPay, a payments provider specializing in the cannabis industry, said it is working with Blackbird, a cannabis software and delivery company, to process online ordering for cannabis businesses.U.S. payments provider WEX Inc. announced it will process …
• 19 January

  How Covid-19 Helps Fuel A Rise in Fraud and Identity Theft

  

  As consumers pivoted in droves to digital channels for purchases and financial services at the outset of the Covid-19 pandemic, criminals pounced on the trend to perpetrate more fraud and identity theft, according to data from credit-reporting agency TransUnion LLC. Between March 11 and April 28, 2020, when the first …
• 18 January

  PDI Expands Its Relationship With EG Group to All of EG’s U.S. Convenience Stores

  

  Professional Datasolutions Inc., which provides software, including payments services, to convenience stores and gasoline wholesalers, announced Monday it has reached an agreement with c-store and gas-station operator EG Group to expand the use of its payment technology to about 1,700 EG Group sites across the United States. The agreement builds …
• 18 January

  Despite Covid, Holiday Retail Sales Beat Expectations Handily, the NRF Says

  

  The numbers are in, and it turns out the holiday shopping season was not only better than expected, but also better than the one in 2019, weeks before the coronavirus pandemic struck in the United States. Retail sales in November and December totaled $789.4 billion, up a healthy 8.3% over …