Digital Transactions Authoritative, insightful and timely information for payments professionals

September, 2020

• 30 September

  The Move to Digital Payments And Accounts Carries Risk for Businesses, Report Says

  

  As more consumer and business activity, let alone shopping, migrates to digital channels, the potential for additional risk increases. A new white paper from Giact Systems LLC outlines where some of the risk may be emerging. The Allen, Texas-based payments and identity-fraud prevention firm said undetected fraud can erode consumer …
• 30 September

  Square Promotes QR Codes for Eateries As the Contactless Technology Gains a U.S. Payments Footing

  

  Square Inc.’s announcement Tuesday of its new QR code service for restaurants helps bring the contactless technology into the limelight, but it’s only the latest in a string of moves payments providers have made in recent months to position the barcode as a payments enabler. In Square’s scenario, eateries that …
• 30 September

  Blackhawk’s New Gift Card Issuing Service and other Digital Transactions News briefs from 9/30/20

  

  Blackhawk Network launched its Issuance and Program Management Solution, a service that enables companies to outsource their gift card and digital gift programs through Blackhawk. The new service is enabled by the company’s recent acquisition of SVM, a provider of open- and closed-loop gift card technology.Payroc LLC said its affiliate invested $2.6 …
• 29 September

  Restaurants Turn to Technology to Keep Sales Tax on the Operations Menu

  

  Paying sales tax is part of doing business for restaurants, but not all restaurants are adept at collecting it. With this in mind, Davo Technologies, a provider of an automated sales tax collection application, has integrated its app into Heartland Payment Systems Inc.’s POS platform for restaurants. The Davo app …
• 29 September

  After Months of Preparation, Amazon Launches Its Palm-Payment Technology

  

  Amazon.com Inc.’s venture in letting consumers pay with the palm of their hand officially launched Tuesday at two Amazon Go stores. But the retailing giant’s latest payment technology could face an uncertain future even as stores struggle with how to introduce contactless methods in the face of the Covid-19 pandemic. …
• 29 September

  Nuvei Makes a Bet on Colorado and other Digital Transactions News briefs from 9/29/20

  

  Nuvei Corp. said it received a sports betting vendor license in Colorado, enabling it to process payments there for regulated sports betting sites and apps.Mastercard Inc. and ACI Worldwide Inc. said they will collaborate to support real-time payments capabilities, initially for central banks, payments networks, financial institutions, and payments providers.To help businesses …
• 28 September

  Eye on IoT: More Wearables Gain Payment Functionality And Loop Insights Makes a Property Deal

  

  Despite the slowdown in manufacturing as a result of the Covid-19 pandemic, shipments of wearable devices, which are often fitted for payments, are forecast to hit 396 million units in 2020, a 14.5% increase from 2019, says International Data Corp.  During the first half of 2020, 38% of all wearable …
• 28 September

  While Momentum Builds for Real-Time Payments, Research Tags the U.S. Market As a Laggard

  

  Real-time payments are gaining momentum in the United States, but research released Monday indicates the U.S. market remains a laggard. The total value of so-called instant payments will reach $18 trillion in 2025, but the U.S. share of that market will total just 8%, or $1.4 trillion, according to a …
• 28 September

  Mobile Wallet Debit Card Use Grows and other Digital Transactions News briefs from 9/28/20

  

  Consumers appear to like using their mobile wallets for payments, with PSCU, a credit union service organization, reporting a 70.3% increase in the use of debit cards for the week ending Sept. 20 over the week ending Sept. 22, 2019. Credit card use in wallets was up 50.4%.Some 76% of small-business owners will …
• 25 September

  Contactless Is Gaining Favor Fast Among Consumers And Merchants, AmEx Data Show

  

  Consumer demand is so strong that 81% of merchants surveyed by American Express Co. intend to make contactless payments a permanent option at the point of sale. Some 70% of merchants say their customers have asked for contactless payments, J.J. Kieley, vice president of the AmEx Payments Consulting Group, tells Digital …