Payments News

On The Web

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Reports

Digital Payments to Hit Record $4.7trn in 2020

“Digital payments have had a huge impact on the global payments industry traditionally dominated by cash, credit cards , debit cards, and prepaid cards. The surge of smart devices and a growing eCommerce market has led to the rapid adoption of digital payments, in both developed and emerging countries. According to data gathered by LearnBonds.com, […]
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Domains

Merchants’ POS Systems Ambitions Include Omnichannel and Enhancements: Survey

““We continue to see a lot of activity focused on enhancing existing POS capabilities and omnichannel integration, when we had expected an increase in plans for the implementation of a single, unified commerce platform,” Ryan Grogman, RCP managing partner, says in an email to Digital Transactions News.“While this might just be a short-term trend, it is interesting […]
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Reports

Credit-Card Debt in U.S. Rises to Record $930 Billion

“Total credit-card balances increased by $46 billion to $930 billion, well above the previous peak seen before the 2008 financial crisis, according to data released by the Federal Reserve Bank of New York on Tuesday.  Some cardholders, particularly younger ones, are running into trouble. The proportion of credit-card debt in serious delinquency, meaning payments were […]
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Reports

Survey: Shoppers Are Ready for Leading-edge Store Tech

“A multinational consumer survey from digital financial technology provider Wirecard reveals that large percentages of respondents have interest in using emerging technologies to streamline a variety of in-store shopping activities. Seven in 10 (71%) are somewhat or very interested in a self-checkout app. And 65% are somewhat or very interested in a smart mirror that […]
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Reports

Contactless Payments Set to Triple to US $6tn by 2024

“Global contactless transaction values will reach nearly US$6tn in 2024, up from US$2tn today, Juniper Research forecasts. “This increase will be driven by significant growth in OEM Pay and contactless card transaction values, especially in the US,” the analysts say. Improvements in China’s contactless POS infrastructure will also be a key driver of the increase, […]
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Reports

Consumer Credit Jumps in December

“Revolving credit, like credit cards, jumped 14% in December. This is the fastest pace of growth since April 1998. Nonrevolving credit, typically auto and student loans, rose 3.7%. For all of 2019, credit card debt was up at a 4.2% pace while nonrevolving credit was up at a 4.8% pace. The data don’t include mortgage […]
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On The Wires

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Reports

ACH Network Annual Growth Rate Reaches 12-Year High

“The ACH Network saw a remarkable year in 2019 as the annual growth rate reached a 12-year high. There were 24.7 billion payments on the ACH Network, an increase of 7.7% over 2018. The value of those payments was $55.8 trillion, up nearly 9% from 2018.”
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Companies

Gift Giving Helps Zelle® Wrap Up 2019 With Double Digit Growth

“Early Warning Services, LLC, the network operator behind Zelle®, today announced its Q4 2019 and 2019 full year results. In Q4 2019, the Zelle Network® processed 230 million transactions, totaling $56 billion in money sent — an increase of 14% and 17% quarter-over-quarter, respectively. For the 2019 calendar year, the Zelle Network processed $187 billion in payments on 743 million transactions. […]