Thursday , October 22, 2020

U.S. Bancorp’s Merchant Revenues Plunge and other Digital Transactions News briefs from 7/15/20

  • U.S. Bancorp, owner of merchant acquirer Elavon Inc., saw merchant-processing revenues decline 34% year-over-year in the second quarter to $266 million thanks to reduced consumer and business volumes caused by the Covid-19 pandemic.
  • Processor Shift4 Payments Inc. has been named the official credit card processing company for the Las Vegas Raiders National Football League team as well as a sponsor for Las Vegas’s Allegiant Stadium, where the Raiders play.
  • Identity theft, payment-account fraud, late and overdraft fees, and detrimental credit impacts cost U.S. bill payers $74 billion yearly, according to data from doxo Inc., a Web and mobile bill-pay service.
  • The U.S. Secret Service said that in recognition of the growing convergence of cyber and traditional financial crimes, it is merging its Electronic Crimes Task Forces and Financial Crimes Task Forces into a single unified network to be known as the Cyber Fraud Task Forces (CFTFs).
  • American Express Co. launched American Express OneAP, which it says is the company’s first proprietary automated accounts-payable service. The service relies on technology acquired when AmEx bought digital payment automation company Acompay last year.
  • In response to rising fraud during the Covid-19 pandemic, ACI Worldwide Inc. said it has made its ACI Proactive Risk Manager and ACI Model Generator risk-management tools available in a private or public cloud for all existing clients.
  • EBay Motors launched escrow services and chat features on its marketplace, which specializes in automotive buying and selling.
  • Mobile-parking app provider ParkMobile LLC said it has reached 19 million users and expects to add another 1 million by September. The company has added 20 cities since the start of the year.
  • Merchant processor Aliant Payments launched CryptoBucks, a mobile app designed to enable merchants to securely accept crypto payments from any device.
  • Digital financial platform provider MoneyLion Inc. launched RoarMoney, a mobile-banking service offered through MetaBank N.A. that includes a Mastercard-branded debit card.

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