Payments News

On The Web

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Reports

Global Digital Sales Grew 8% During Holiday 2019, Hitting $723 Billion – Retail TouchPoints

“Holiday digital spending jumped 8% compared to the rest of 2019, reaching $723 billion worldwide, according to data from Salesforce . Mobile once again was the top channel, accounting for as much as 80% of digital traffic and 65% of digital orders on peak shopping days. Buy online, pick up in-store (BOPIS) was also a big winner, particularly toward the end of the […]
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Reports

Federal Reserve Releases 2019 Payments Study

The 2019 Federal Reserve Payments Study (FRPS), seventh in a series of triennial studies, found accelerating growth overall in core noncash payments (ACH, cards, checks) from 2015 to 2018 compared to the previous three-years. The study also found that Debit and credit card payments grew 8.9 percent per year between 2015 and 2018. The value […]
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Reports

Discussion paper Designing a prudential treatment for cryptoassets

“As previously indicated, the Committee is of the view that the growth of crypto-assets and related services has the potential to raise financial stability concerns and increase risks faced by banks. Cryptoassets are an immature asset class given the lack of standardisation and constant evolution. Certain cryptoassets have exhibited a high degree of volatility, and […]
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Reports

U.S. Bancorp’s Merchant Volume Rises 10% While BofA Sees Big Zelle Growth

“Minneapolis-based U.S. Bancorp reported $119.1 billion in merchant volume versus $107.8 billion in 2018’s fourth quarter. Transactions totaled 1.69 billion, up 13.8% from 1.49 billion a year earlier. That generated $409 million in non-interest income, a 5.1% increase. The revenue growth was “driven by higher sales volumes and merchant fees,” U.S. Bancorp said in its […]
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Reports

Gen Z, Millennials Heart Contacless for Payments, Loyalty

“Ingenico Group and Freedom Pay unveiled research this week that found that despite the fact that more than half of shoppers reported encountering a technical problem during a mobile checkout experience, about three-fourths still believed contactless payments were a good option for shopping or engaging in a loyalty program.  The study, conducted by Hanover Research, revealed that […]
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On The Wires

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Reports

SmartMetric Says Evidence Shows That 39% of Consumers Who Wrongly Have Their Credit Card Declined Stop Using That Credit Card for Future Purchases

“A report by the Aite Group (1) predicts losses due to false credit and debit card declines will grow to $443 billion by 2021. This dwarfs the losses from card fraud alone. Despite the online industry’s best efforts, new data reveals that both e-commerce fraud and the constant incidents of false declines continue to seriously impair retailer revenues […]
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Reports

New Accounts Payable Research Finds That Fraud, Data Security Among Top Concerns As Cross-Border Payments Rise To 83%

“A new independent study on the state of accounts payable conducted by Levvel Research and commissioned by Tipalti , the leading global payables automation solution, highlights the ongoing challenges in dealing with fraud as cross-border payments increase in frequency. Levvel Research found that the majority of companies (83%) made cross-border payments in 2019 – a […]