Digital Transactions Authoritative, insightful and timely information for payments professionals
The topic of faster payments has won plenty of publicity in recent years, but less celebrated is the mundane business of crediting merchant accounts. That’s getting faster, too, and the latest development is a service called Funds Now, which PayPal Holdings Inc. announced Tuesday. With this service, online merchants in …
September, 2018
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12 September
Global Mobile Contactless Payments To Hit $1 Trillion by 2022, Researcher Predicts
Mobile contactless payments are growing at a nearly 31% compounded annual rate and will exceed $1 trillion worldwide by 2022, according to a new forecast from 451 Research. The prediction is contained 451’s Global Unified Commerce Forecast, which estimates that total online commerce accounts for about 10% of purchases currently, …
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12 September
Rambus Token Gateway Receives Visa OK and other Digital Transactions News briefs from 9/12/18
Rambus Inc. announced its token gateway for e-commerce is one of the first such services to be certified by the Visa Ready program. The gateway streamlines links to the Visa Token Service to tokenize payment credentials for merchants, payment service providers, and merchants. Mobile-payments specialist Glance Technologies Inc. said its …
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11 September
Bolt And BigCommerce Team Up on an Instant Checkout Service
BigCommerce Pty. Ltd., an e-commerce platform and online shopping-cart provider, is teaming up with payments provider Bolt Financial Inc. on an instant-checkout service for online merchants. Announced Tuesday, the service is available via a plugin for BigCommerce’s platform. Austin, Texas-based BigCommerce also released its Checkout JS Software Development Kit that …
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11 September
USA Technologies’ Stock Tanks on News of Contract Investigation
Unattended payments provider USA Technologies Inc. lost a third of its value Tuesday morning on news it would delay filing its annual report while its board of directors investigates customer contracts and how business was booked. The company had until Sept. 13 to file its annual report with the Securities …
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11 September
A Financial-Industry Standards Body Releases Rules Aimed at Tightening Mobile Security
Mobile payments are booming in places like China and India, but in the United States, not so much. Year after year, one reason that keeps popping up in surveys is concerns about security, and on Tuesday a major standards body announced a measure aimed squarely at those fears. The Accredited …
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11 September
GAO Calculates Equifax Breach Impact and other Digital Transactions News briefs from 9/11/18
Georgia State University announced that the new Georgia FinTech Academy, a talent-development initiative involving Georgia’s 26 public institutions of higher learning, will have physical locations at Georgia State and in Atlanta’s Buckhead neighborhood. The FinTech Academy is supported by the Atlanta-based American Transaction Processors Coalition. One year after credit-reporting agency Equifax Inc. disclosed its …
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10 September
Eye on Data Breaches: British Airways Reports Hack; Survey Finds 21% of Equifax Victims Noticed ‘Unusual’ Financial Activity
Some 380,000 payment cards used by British Airways customers have been compromised in a data breach, and more than one in five consumers surveyed about last year’s massive breach at credit-reporting agency Equifax Inc. reported “unusual activity” in its wake, including new account openings. British Airways, one of Europe’s largest …
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10 September
Gateway Operators Slice Transaction Time in Half As Uptime Average Nears 100%
U.S. gateway providers have cut the average transaction time in half to 1.6 seconds from 3.2 seconds only a year ago, according to data compiled by Omaha, Neb.-based researcher The Strawhecker Group. Derived from the firm’s Gateway Enterprise Metrics platform that debuted in 2017, the results show that the 12 …
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10 September
PayRange Debuts PayRange Air and other Digital Transactions News briefs from 9/10/18
Merchant processor Paysafe launched Paysafe Accelerated Funding, which allows merchants to receive settlement of funds on the same day or next day. The service relies on arrangements the company has made with Ingo Money, a push-payments provider, and Company.com, a business-software aggregator. Vending-payments specialist PayRange Inc. launched PayRange Air, a …