Digital Transactions Authoritative, insightful and timely information for payments professionals
Formerly distinct holiday spending patterns are blurring, according to new data. The National Retail Federation reported Tuesday that Black Friday, traditionally known for swarms of consumers in stores, for the first time topped Cyber Monday, the Monday after Thanksgiving, for online shopping. And Adobe Inc.’s research unit reported that consumers …
December, 2019
-
3 December
Weave Payments Debuts and other Digital Transactions News briefs from 12/3/19
Weave, a provider of management applications and services for small businesses, announced the launch of Weave Payments, a payment-processing platform that includes acceptance of text-to-pay and mobile wallets.Corporate America Credit Union, a financial cooperative for almost 500 credit unions, has agreed to be a funding agent for the Real-Time Payments network …
-
2 December
The Fed Plans To Raise Payment-Services Fees by an Average of 2.4% in 2020
Prices for Federal Reserve payment services to depository financial institutions will go up by an average of 2.4% on Jan. 2 under a new fee schedule approved last week by the Federal Reserve Board of Governors. The Fed estimates Check Services customers will see average price increases of 3.3%. Users …
-
2 December
In-Store Holiday Shopping Increases, But Not As Fast as Online Shopping
Online shopping on Black Friday, the day after Thanksgiving, increased 19.6% year-over-year, while in-store shopping that day increased 4.2%, according to Adobe Digital Insights and Fiserv Inc., respectively. Consumers did not disappoint in early holiday shopping results. Adobe Digital Insights, a unit of San Jose, Calif.-based Adobe Inc., said consumers …
-
2 December
Pandora’s 8-Hour POS Issue and other Digital Transactions News briefs from 12/2/19
Jewelry retailer Pandora said it is standing by its 2019 sales guidance despite an eight-hour point-of-sale issue at U.S. and Canadian stores on Black Friday.American Express Co. said its Small Business Saturday promotion, which occurred Nov. 30, achieved a record with an estimated $19.6 billion in spending.With fewer people carrying cash, the Salvation …
November, 2019
-
27 November
Smart Phones in Hand, Consumers Prep for a Busy Holiday Shopping Season
Expect more consumers to wield their smart phones for their holiday shopping this year. Fully 70% of consumers in the Deloitte 2019 Holiday Retail Survey plan to make a holiday purchase using a smart phone. That’s up from 67% in 2018 and from 59% in 2017. A separate Visa Inc. …
-
27 November
Stolen Card Data Shows up in Joker’s Stash and other Digital Transactions News briefs from 11/27/19
Customer data from 4 million payment cards stolen in breaches at four restaurant chains has gone up for sale in the Joker’s Stash underground bazaar, KrebsOnSecurity reported. The breaches occurred at nearly half the 1,750 total locations of Krystal, Moe’s Southwest Grill, McAlister’s Deli and Schlotzsky’s, the latter three of which are owned by …
-
27 November
COMMENTARY: Overcoming Complex Payment Challenges in the Platform Economy
With the popularity of sharing-economy models, payments have become infinitely more complex. Sharing platforms certainly provide more value to consumers than pure-play, single-merchant-owned e-commerce sites, but they come with more challenges. By 2021, the platform economy will welcome over 86 million users. That means that all over the world, 86 …
-
26 November
Retail ATMs, Prepaid Cards Partially Fill Growing Void as Banks Close Rural Branches
Banks have closed thousands of branches in recent years, hitting rural America especially hard and leaving retail ATMs, prepaid cards, and services from non-bank providers to fill the void, according to a new Federal Reserve report. The “Perspectives from Main Street: Bank Branch Access in Rural Communities” report released Monday …
-
26 November
Behind Galileo’s Do-It-Yourself Approach To Fast Funding Mated To Instant Debit Cards
Sitting in a meeting in New York City, Clay Wilkes put his company’s latest innovation to the test. “We onboarded a company, funded the master funding account, created an individual account, and moved funds from the master funding account, and bought a gift card on Amazon,” he recalls. “Someone in …