PayPal has offered Zettle point-of-sale processing software and a card reader device to small merchants in the US since June 2021. Last month, the company expanded its offering to include an all-in-one handheld POS terminal supported by additional value-added services.
Open banking, a regulatory requirement in the European Union, is gaining traction in other regions of the world. Companies that provide open banking services send and receive payment information or account data to and from banks, usually via APIs.
The CoinBridge subsidiary of unattended payments specialist Nayax is the latest entrant to the pay with points market, where digital loyalty and rewards assets can be redeemed outside of the channel in which they were earned. The CoinBridge platform operates behind the scenes to convert any digital asset into a virtual payment card transaction, in-store or online.
Visa Inc., owner of VisaNet, the largest payment card network in the world based on merchant acceptance locations, has spent several years building Visa Direct, a capability within VisaNet for delivering funds transfers including remittances, payouts to independent contractors and other use cases for consumers and small businesses.
Protocols developed by the Fido Alliance and the World Wide Web Consortium (W3C) have been combined to create public-key/private-key cryptographic message exchanges called passkeys, a replacement for knowledge-based passwords used to authenticate online transactions.
Mastercard added seven startups to its crypto accelerator program. The companies specialize in payments to merchants, remittances, privacy and loyalty, among other areas. Mastercard says that 350 companies have participated in the program since 2014.
The 150 largest acquirers of general purpose credit, debit and prepaid card payments from merchants worldwide are listed here based on transactions processed in 2021. Total transactions of 416.55 billion processed by this group increased 17.9% from 2020.
Payment cards shipped by the manufacturers listed here totaled 4.47 billion in 2021. Included in the 2021 shipment figures were 3.73 billion chip cards and 638.9 million magnetic-stripe-only cards.
Plaid launched Wallet Onboard, a product that allows developers to offer connections among more than 300 self-custody crypto wallets using a single integration and a UI that is familiar to existing Plaid users. Wallet Onboard is built on Plaid Link, a platform that lets consumers connect their financial accounts across thousands of fintech apps and services.
Merchants that sell online and provide immediate delivery of their goods or services, sometimes called on-demand or quick-commerce merchants, are experiencing rising losses to fraud. Those losses are particularly painful because profit margins in this sector, which includes the delivery of food and alcoholic beverages, fashion and travel, are often thin.
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