Digital Transactions Authoritative, insightful and timely information for payments professionals
Repay Holdings Inc. announced the acquisition of TriSource Solutions for up to $65 million. TriSource, founded in 2007, provides back-end transaction-processing services to independent sales organizations. TriSource has been Repay’s primary third-party processor for back-end settlement since 2012.The U.S. District Court in Cleveland approved a $4.3 million settlement of a class action filed …
August, 2019
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14 August
Priority’s Earnings Tempered by Subscription-Billing Merchant Changes
Priority Technology Holdings Inc.’s total merchant bank card processing volume increased 10.9% in the second quarter, from $9.9 billion to $11 billion, but the merchant acquirer continues to deal with the wind-down of some online subscription-billing merchants. Alpharetta, Ga.-based Priority said Tuesday that the wind-down of the subscription merchants stems …
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14 August
After a Quarter Century, E-Commerce Heads Into New Territory
Hard to believe, but e-commerce is a quarter-century old. Along the way, e-commerce radically changed retailing and payments, and now it’s heading into a future with more growth certain but where payments are more in the background. Visa Inc. this week reported in a blog post that the first e-commerce …
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14 August
Accenture Releases Cybercrime Report and other Digital Transactions News briefs from 8/14/19
Accenture released its 2019 Cyber Threatscape Report that examines cybercrime operating models and the effects of ransomware.Point-of-sale equipment maker Star Micronics said Square Inc. now supports its mG-Scale products.In a survey of 100 small businesses, installment-payments provider Klarna found that 40% of online retailers said operational size was the biggest barrier to adopting new payment options.Agreement Express …
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13 August
More Colleges Making Student IDs And Payments Available in Apple Wallet
Apple Inc. says 12 U.S. colleges, with more than 100,000 students, will enable contactless student IDs in Apple Wallet this school year. The students will be able to use their student IDs on iPhones and Apple Watches to enter buildings protected by keycard access, buy meals, and make purchases in college …
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13 August
Venmo’s Latest Instant-Transfer Gambit Leverages Faster Payments As It Digs for Revenue
With real-time payments in the headlines these days, it’s not surprising payments companies are jumping on the faster-payments bandwagon. But some, like PayPal Holdings Inc., are finding ways to use speedier funds to bolster revenue. PayPal on Monday announced its latest instant-transfer service, this one allowing Venmo users to move …
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13 August
Repay Debuts Instant Funding in Canada and other Digital Transactions News briefs from 8/13/19
Repay Holdings Corp. launched its Instant Funding product in Canada. The service uses Visa Inc.’s Visa Direct service to send funds directly to eligible Visa debit and prepaid cards. Repay said Canadian lenders and finance companies can disburse funds electronically and eliminate traditional checks and electronic funds transfer transactions. Repay also …
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12 August
A Rising Tide of Digital Payments Will Bring New Fraud Threats, Says Forrester
As payment companies expand ways for consumers to make digital payments, 62% of North American merchants, bankers, and fintech providers expect more such payments within the next two years, says Forrester Research Inc. in its “Understanding the Evolving Payments Landscape” report released Monday. Commissioned by Visa Inc., the report also found …
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12 August
COMMENTARY: Cash Vs. Cashless: Which Is Better for Business?
From cities to stadiums to quick-service restaurants, more and more places are grappling with the idea of going 100% cashless. According to the Pew Research Center, almost a third of Americans have stopped using cash for their typical weekly spending. Even Monopoly, many children’s first interaction with money and the …
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12 August
Wells Names New Wells Fargo Merchant Services Boss and other Digital Transactions New briefs from 8/12/19
Wells Fargo & Co. said former Mastercard Inc. executive Colleen Taylor is joining the bank as head of Wells Fargo Merchant Services, the bank’s merchant-acquiring joint venture with Fiserv Inc. Fiserv took over the operation as part of its acquisition of First Data Corp., which last year reached an agreement with Wells …