Digital Transactions Authoritative, insightful and timely information for payments professionals
Point-of-sale lender LendingUSA LLC launched an instant ID-verification capability, which involves applicants using a smart phone to take and transmit photos of government-issued ID cards and selfie photos. The company says its merchant base exceeds 8,000 nationally.A startup called Skyflow said it has raised $7.5 million in a seed funding round aimed at developing …
May, 2020
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21 May
Citcon Extends Its Reach for China-Based Wallets Via Tulip, a Tech Provider for Luxury Brands
Citcon USA LLC said Tulip Retail Inc., a provider of mobile apps used by store clerks at major retail chains, will deploy Citcon’s mobile-payments technology to enable acceptance of Alipay, WeChat Pay, and UnionPay QR. A 5-year-old startup company, Citcon specializes in enabling U.S. merchants to accept China-based mobile-payments apps. …
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21 May
Eye on Fraud: Fiserv Targets Debit Card False Declines; More Mobile Payments Mean More Fingerprint Sensors
Debit card issuers have a new tool to spot potential false transaction declines with a new service from processor Fiserv Inc., and the authentication needs of mobile payments are driving, in part, the growth in fingerprint sensors. Brookfield, Wis.-based Fiserv says its new Authorization Lift service will help reduce the number …
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21 May
Shopify Launches Shop Pay Installments and other Digital Transactions News briefs from 5/21/20
Working with an unnamed partner, commerce platform Shopify Inc. said it will launch Shop Pay Installments later this year. The option will let consumers at checkout split purchases into four equal installments at no interest.In related news, point-of-sale installment lender PayBright said Canadian fashion retailer Groupe Dynamite is offering PayBright’s service on the merchant’s …
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20 May
More Online Ordering and other Digital Transactions News briefs from 5/20/20
Forty-five percent of U.S. consumers are ordering online more often than usual as a result of restrictions stemming from Covid-19, and 34% are making more purchases with contactless or mobile-payment options, according to an online survey of 807 U.S. adults by Auriemma Group, a financial-services consulting firm. The firm also surveyed consumers …
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19 May
A Rogue First Data ISO Will Cost Fiserv $40 Million in a Proposed Settlement With the FTC
Fiserv Inc. and the former head of an independent sales organization will pay $40.2 million to settle charges brought by the Federal Trade Commission stemming from alleged illegal actions committed by the ISO from 2012 to 2014 while it obtained processing services from First Data Merchant Services, whose parent company …
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19 May
Square’s Cash App Brings Dollar-Cost Averaging to The Crypto World
With its merchant business under pressure because of the coronavirus pandemic, Square Inc. is yet again spying new opportunities for its consumer-facing Cash App, whose core feature is person-to-person payments. This time, Square is rolling out regularly scheduled purchases of Bitcoin and stocks for Cash App users. Square chief executive …
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19 May
Mastercard Also Extends EMV Liability Shift for Fuel Pumps
All four card brands have now delayed for the second time their EMV liability shifts for automated fuel dispensers with Mastercard Inc.’s Monday announcement it would postpone its shift until April 16. The original shift was to have taken place in October 2017, but was deferred until October 2020. Along …
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19 May
In a Twist on Contactless, PayPal Rolls Out a QR Code App for Small And Occasional Sellers
In an effort to reach occasional and very small sellers struggling with restrictions imposed to deal with the novel coronavirus pandemic, PayPal Holdings Inc. on Tuesday launched a Quick Response code capability for its mobile app. The feature allows a buyer to scan a QR code displayed by a seller …
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19 May
WooCommerce Payments Debuts and other Digital Transactions News briefs from 5/19/20
E-commerce facilitator WooCommerce launched WooCommerce Payments to provide checkout and payments-management capability for merchants on its platform. Transaction fees start at 2.9% plus 30 cents for U.S.-issued cards.ACI Worldwide Inc. announced Wundr Group Ltd., a retail payments platform specializing in cross-border transactions, will use ACI’s UP eCommerce Payments technology, which links to card-transaction …