Digital Transactions Authoritative, insightful and timely information for payments professionals
An eBay Inc. executive said the online marketplace will not back down on the introduction of its Managed Payments program in the face of criticism from some sellers regarding the program’s costs and policies. The company introduced the new payments program, which relies on gateway services from Adyen N.V., last year after years …
January, 2020
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3 January
New Fed Data Underscores How Far Electronic Payments Have Eaten Into Checks
It’s no secret that electronic payment methods have systematically eaten away at check volume in the United States, but now new data from the Federal Reserve shows just how far that trend has gone. A total of 16 billion checks were written in 2018 for a total value of $26.2 …
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2 January
Lawsuits Filed Over Wawa Data Breach and other Digital Transactions News briefs from 1/2/20
At least six lawsuits seeking class-action status have been filed in U.S. District Court in Philadelphia against Wawa Inc., an 850-location convenience-store chain, in the wake of Wawa’s previously announced data breach. Most recently, the Goldman Scarlato & Penny P.C. law firm said its attorneys are investigating consumer claims concerning the breach. Data stolen …
December, 2019
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31 December
Mercado Pago Adds PayPal Checkout Option and other Digital Transactions New briefs from 12/31/19
PayPal Holdings Inc. announced it has signed a commercial agreement with MercadoLibre, a major e-commerce marketplace in Latin America. As part of the deal, PayPal will become a payment choice in the Mercado Pago online checkout for customers in Brazil and Mexico, a move PayPal says could lead to PayPal users getting …
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30 December
Everi Makes $25 Million Acquisition and other Digital Transactions News briefs from 12/30/19
Everi Holdings Inc., a provider of payment processing, slot machines, and various services to the gaming industry, said its Everi Payments subsidiary bought $25 million in “strategic assets” from Micro Gaming Technologies Inc., a privately held provider of loyalty and marketing products and promotional tools and apps for casinos. Under …
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27 December
Amazon’s Record Holiday Season and other Digital Transactions News briefs from 12/27/19
E-commerce leader Amazon.com Inc. said the 2019 holiday shopping season was a record-breaker for the company, with “billions of items ordered,” including “tens of millions” of Amazon devices. The company didn’t disclose payment volumes.Following a 79% collapse last year, the cryptocurrency market rebounded in 2019 to a total value of $192.3 billion, up 58%, …
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26 December
Citcon Prevails in Source Code Lawsuit and other Digital Transactions News briefs from 12/26/19
Citcon USA LLC said it prevailed in a lawsuit against Canada-based RiverPay Inc. over allegations of misappropriation of source code trade secrets. Citcon, which helps North American merchants integrate Chinese mobile wallet acceptance, sued RiverPay in 2018 in the U.S. District Court for the Northern District of California because it said RiverPay …
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24 December
OTI Raises $2.5 Million and other Digital Transactions News briefs from 12/24/19
On Track Innovations Ltd., a provider of payments technology based on near-field communication, announced it raised $2.5 million in a private placement of shares.Digital-banking and payments-processing technology provider i2c Inc. launched a mobile app and cardholder Web site it says are designed to help persons who have color-blindness conduct digital banking.TriumphPay, a …
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23 December
It’s Official: Same-Day ACH Gets a Third Settlement Window, Effective March 2021
In a move that could have wide-ranging implications for a variety of payments, the Federal Reserve on Monday announced it will support a third settlement window each day for same-day automated clearing house transactions. The later settlement time, which ACH rule-making authority Nacha and a number of banks have long …
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23 December
COMMENTARY: How To Leapfrog Barriers in Payment Infrastructure
Over the last decade, we have seen an explosion in fintech, ushering in a new era of commerce. Payment innovations have closed the technology gap and have connected consumers all around the world—even those without bank accounts—to the digital marketplace. Many fast-emerging markets across Asia and Latin America have seen …