Digital Transactions Authoritative, insightful and timely information for payments professionals

December, 2020

• 15 December

  Buy Now, Pay Later Comes to POS Devices As Klarna Strikes a Deal With Verifone

  

  Klarna’s buy now, pay later payment options are coming to Verifone Inc. point-of-sale devices, Klarna AB announced Tuesday. This marks the first buy now, pay later option to be available on Verifone POS terminals in the United States and Europe as part of the Verifone Cloud Services platform, Klarna says. …
• 15 December

  Paysafecash Makes U.S. Debut and other Digital Transactions News briefs from 12/15/20

  

  Payments provider Paysafe Group Holdings Ltd. announced the U.S. launch of Paysafecash, a digital service that allow consumers to pay online in cash. The service is provided by InComm Payments’ Vanilla Direct payment network.Some 30% of consumers have signed up for peer-to-peer payment platforms in the past six months, according to a survey …
• 14 December

  Will a U.K. Class Action Case Influence Interchange Policy in the United States?

  

  A class of 46 million consumers in the United Kingdom cleared a major hurdle last week when the country’s Supreme Court ruled that a class-action suit brought against Mastercard Inc. for excessive interchange fees can proceed. But they still face a major challenge proving that consumers were materially harmed by …
• 14 December

  How the Ransomware Attack on TSYS Could Be an Early Indicator of Bad News to Come

  

  The recent ranswomware attack on the big payments processor TSYS could portend worse to come for the payments business as cyber criminals seek vulnerabilities in the industry and carry out new tactics to squeeze out ransom payments from their victims. More attacks on credit and debit processors are “absolutely” coming, …
• 14 December

  Fast Woos WooCommerce and other Digital Transactions New briefs from 12/14/20

  

  Online checkout provider Fast AF Inc. said its service is now available to 4 million e-commerce stores on the WooCommerce platform. Earlier this year, Fast received $20 million from investors, including Stripe.Spending on entertainment decreased for the week ending Dec. 6, compared to the week ending Dec. 8, 2019, with a 23.9% drop in debit …
• 11 December

  Expect a 4.1% Growth in Open-Loop Prepaid Loads Through 2024, Mercator Forecasts

  

  Like many industries, the open-loop prepaid card segment of payments has absorbed the impact of the Covid-19 pandemic, but the results may not be as harsh as for some other segments in payments. That’s one assessment from Mercator Advisory Group’s 17th Annual U.S. Open-Loop Prepaid Cards Market Forecast 2020-2024 Part …
• 11 December

  Startup Xspaced Teams With Dwolla to Ease Rent Burdens for Tenants Pressed by Covid-19

  

  Among the hardships some consumers are bearing these days, rent payments can loom large. This week, a housing-payments startup called Xspaced and payments provider Dwolla Inc. launched a feature that allows tenants to split rent payments into anywhere from two to four installments each month without accruing interest. Landlords still …
• 11 December

  Contactless Payments Could Reach $4.6 Trillion in 7 Years and other Digital Transactions News briefs from 12/11/20

  

  The global contactless payment market is forecasted to reach $4.6 trillion by 2027, up 338% from $1.05 trillion in 2019, said Precedence Research. The market is predicted to have a compound annual growth rate of 20.01% from 2020 to 2027.Concord Acquisition Corp., which has been formed to acquire or otherwise combine with payments and …
• 10 December

  Verizon Taps Fiserv’s Clover to Enable Contactless Payments For Its Business Customers

  

  With merchant demand for contactless payments rising fast in the face of the Covid-19 pandemic, Verizon Communications Inc. announced Thursday its Verizon Business unit will begin offering Fiserv Inc.’s Clover Flex mobile point-of-sale device to its business customers. The deal gives Verizon clients access to Fiserv’s merchant services for online, mobile, …
• 10 December

  Big E-Commerce Processor Worldpay Agrees to Enable Visa Tokens And Click To Pay

  

  In the midst of a boom in online commerce, one of the biggest e-commerce transaction processors globally has agreed to support both a Visa Inc. service that masks users’ card credentials and a streamlined online checkout technology offered by all four major card networks. FIS Inc. said Thursday its Worldpay processing …