Digital Transactions Authoritative, insightful and timely information for payments professionals
Stories too good to be true often aren’t. The curtain has at long last been pulled back on high-flying payments fintech Wirecard AG. A whopping $2.1 billion in cash on its balance sheet can’t be verified and likely never existed. Chief executive Markus Braun has resigned and was arrested. Chief …
June, 2020
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29 June
AmEx Launches $200 Million Shop Small Program and other Digital Transactions News briefs from 6/29/20
American Express Co. announced a global, $200 million Shop Small campaign to support small businesses, many of which have been affected by the Covid-19 pandemic. U.S. AmEx cardholders can get $5 back after they spend $10 or more, up to 10 times, when they buy online or in-store at qualified businesses …
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26 June
Some E-Commerce Categories Return to Growth While Small Business Sales Continue Double-Digit Rise
While e-commerce sales overall have ballooned for many merchants since the March 11 declaration of the Covid-19 pandemic, health-and-beauty and business supplies generally did not. Until last week. Online business supplies sales were up 21% and health-and-beauty sales were up 20% for the week of June 16-22, reports the Signifyd …
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26 June
SoFi Joins Cardtronics Allpoint ATM Network and other Digital Transactions News briefs from 6/26/20
ATM network operator Cardtronics plc said customers of Social Finance Inc. (SoFi) will get access to the 55,000 ATMs in the Cardtronics-owned Allpoint surcharge-free network, including several at the new SoFi Stadium in Los Angeles, under a new agreement between the companies.Payment technology provider Galileo announced the full launch of Galileo Instant, a service …
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26 June
COMMENTARY: Nine Ways Gas And Convenience Retailers Can Cut Their Fraud Risk
All card schemes are now on board with the new deadline for the U.S. EMV liability shift in April 2021. So, the time to upgrade—if you haven’t—is now. Adding EMV chip readers both inside a store and at automated fuel dispensers (AFDs) isn’t intended to be a hardship for gas …
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25 June
Paysafe Names New Acquiring And E-Commerce Heads As Payments Veteran Rawls Retires
Paysafe Group on Thursday capped a recent restructuring of its payment-processing unit with the appointment of a chief executive for the unit’s U.S. acquiring division. Afshin Yazdian on July 1 will take over the division, one of two businesses formed with the splitting of the company’s payment-processing unit. Paysafe also …
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25 June
Wirecard Turns to Insolvency Action and other Digital Transactions News briefs from 6/25/20
German payments provider Wirecard, which entered the U.S. market in 2016, filed for insolvency, it announced Thursday, following the disclosure last week of more than $2 billion in disputed cash. It is evaluating whether insolvency will be filed for its subsidiaries.In an update, Mastercard Inc. reported its switched transaction volume recorded a 1% increase in the …
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24 June
USA Technologies Is ‘Re-energized And Digging in,’ New CEO Says
The new regime at unattended-payments provider USA Technologies Inc. is now in place after a proxy fight that deposed the old management team and board of directors, and it’s looking for growth from underexploited opportunities and cost-cutting. “With the uncertainties of the proxy contest now behind us combined with a …
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24 June
Shift4 Launches QR Pay as an Alternative to Contactless Payments Via NFC
Payments companies have been working for months against a backdrop of consumer fears induced by the new coronavirus, and on Wednesday Shift4 Payments Inc. launched a contactless-payment capability with a twist: it relies on Quick Response codes rather than the much more common near-field communication technology found in major-brand credit …
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24 June
7-Eleven Launches a Fuel Loyalty And Payments Program While Its Mobile Checkout Arrives in Utah
7-Eleven Inc. is testing a fuel loyalty program that also provides a contactless payment option with Siri functionality for iPhone users. The convenience-store chain also is expanding its mobile checkout capability through its app to Utah locations. Irving, Texas-based 7-Eleven is testing the fuel loyalty service in Orlando, Fla., northern …