Digital Transactions Authoritative, insightful and timely information for payments professionals
Much has been written about the need for merchants to adopt various forms of contactless payments to suit jittery customers and cashiers in the midst of Covid-19, but often the conversion to touch-free transactions is easier said than done. In response, Square Inc. late Thursday unveiled an application programming interface …
October, 2020
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16 October
Covid-19 Prompts the PCI Council to Take a Flexible Approach to Its Security Standard
Because of Covid-19, many employees who have access to payments data are working from home, making it awkward if not impossible for data-security assessors to conduct onsite inspections. In response, the PCI Security Standards Council says it plans to make the next version of its data-security standard more reflective of …
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16 October
MoneyGram Adds International Partners and other Digital Transactions News briefs from 10/16/20
MoneyGram International Inc. reached an agreement with Lulu Money in which consumers in Hong Kong can send or receive money at any Lulu Money location and also link to the MoneyGram network.In related news, MoneyGram and PayMaya, a payments provider in the Philippines, have agreed to launch a service that will allow …
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15 October
E-Commerce Will Flourish This Holiday Season, But Watch Out for Fraud, ACI Warns
The economy may have fallen into recession, but processors and online stores can expect a healthy holiday season this year, according to projections released Thursday by ACI Worldwide Inc. The Naples, Fla.-based payments provider said e-commerce transactions will jump 27% globally in the fourth quarter compared to the same period …
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15 October
Covid-19’s Long Shadow Is Prompting a Rise in Gift Card Sales, Including Digital Cards
With a looming holiday shopping season inflected by uncertainties surrounding the effects of the Covid-19 pandemic, payments firms are trying to work out how consumers may change spending habits this year. A study released Thursday indicates processors expect a healthy jump in e-commerce volume, including a surge for gift cards. …
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15 October
Ziosk Expands Its Device Platform and other Digital Transactions News briefs from 10/15/20
Restaurant technology specialist Ziosk expanded its Ziosk Platform to now include a Quick Response code service for contactless menu browsing, ordering, and payment. It also includes handheld and integration models of its service. Ziosk said the average use rate for its original devices is 92%, an average increase of almost 30% since …
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14 October
In One of Its First Post-SoFi Deals, Galileo Adds $7 Billion in Transaction Processing Via Fintech Save
Fintech startup Save has reached an agreement to use Galileo Financial Technologies Inc.’s API-driven payments-processing platform for its Debit Invest debit cards and Save Market Savings accounts. Galileo’s platform is expected to make it easier for Save customers to open and fund their accounts and integrate them with Save’s bank …
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14 October
A Pilot Is Coming for FedNow, But Some Question the Fed’s Deliberate Pace
The announcement from the Federal Reserve late Monday of a pilot for the FedNow real-time payments service may represent an important stage in the development of a service not expected to go live until 2023 at the earliest. But observers caution rival services have already made headway with key market …
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14 October
Western Union Extends Kroger Deal and other Digital Transactions News briefs from 10/14/20
The Western Union Co. has extended an agreement with grocer The Kroger Co. to offer Western Union payment services at Kroger stores.Parking-app provider ParkMobile LLC announced an agreement with Diamond Parking to expand usage of the app to some 2,000 parking spots in more than 40 locations in San Diego. The app claims nearly 100,000 …
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13 October
ATMIA Deplores ‘Fearmongering’ in Press Coverage of Covid Risk at ATMs
With ATM transaction volumes in bank branches returning to near pre-Covid-19 levels, the ATM Industry Association Tuesday issued a statement decrying media coverage regarding the risk of infection from ATM use. The issue centers on a study by the Commonwealth Scientific and Industrial Research Organisation and the Australian Centre for …