Tuesday , January 19, 2021

Visa Commercial Pay Debuts and other Digital Transactions News briefs from 11/23/20

  • Visa Inc. has formed a partnership with virtual-payments technology provider Conferma Pay to launch Visa Commercial Pay, a venture in virtual commercial cards. Available globally, the suite will be available from Visa’s financial institution clients. Visa and Conferma Pay have a long-standing relationship. “Consumerization of [business-to-business] payments has significantly accelerated during Covid-19, which quickly exposed friction and obstacles in B2B money movement,” said Kevin Phalen, global head of Visa Business Solutions, in an email to Digital Transactions News. “For example, remote employees now expect to use a digital-first commercial card on their mobile devices, with tap to pay capabilities, for touchless payment experiences. As a result, businesses are turning to their financial institutions, looking for digital-first, secure and streamlined B2B payment solutions.”
  • Payments provider Payoneer said its new payment orchestration platform is available for e-commerce merchants in North America. Payoneer defines payment orchestration as a technical layer that provides merchants with a single integration to multiple payments providers, payment methods, and risk providers.
  • Digital payments company Payrailz announced Unitus Community Credit Union will use Payrailz’s payment platform for peer-to-peer payments. Unitus also invested in CU Railz, Payrailz’s service for credit unions.
  • Gasoline purchases made with credit and debit cards remain substantially down year-over-year, PSCU, a credit union service organization, said in its Tracking Transaction Trends report for the week ending Nov. 15. Fuel purchases made with debit cards were down 12.9% from the week ending Nov. 17, 2019, and credit was down 21.8%.
  • Payments provider InComm Inc.’s InComm Healthcare unit reported survey results indicating two-thirds of users of Medicaid rewards cards use the cards at least monthly, with 88% reporting using the card in-store is “easy.” The survey received responses from 1,700 Medicaid subscribers in October.
  • Automobile dealer Asbury Automotive Group Inc. said that on Dec. 2 it will launch Clicklane, a platform it says allows consumers to buy and sell cars entirely online. The unveiling was delayed from the original Nov. 16 launch date to resolve a trademark issue.
  • Credit Key, a business-to-business e-commerce payments provider, said it closed a $33.85-million series A funding round.
  • NICE Actimize announced an updated version of its Integrated Fraud Management platform featuring artificial intelligence and machine learning to detect fraud and make transaction decisions.
  • In related news, ACI Worldwide Inc. said its ACI Fraud Management platform is certified to be available via the Microsoft Azure marketplace.
  • Private investor and former JPMorgan Chase & Co. executive Denis J. O’Leary has been appointed non-executive chairman of the board for Fiserv Inc., where he has served on the board since 2008. He succeeds executive chairman and former chief executive Jeffery Yabuki, who is stepping down from the board at year’s end.

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