- Citing data from the global payment card networks, the U.S. Payments Forum reported in its latest update on the conversion from magnetic-stripe to EMV chip card payments that approximately 57% of in-store card transactions are now “chip-on-chip,” meaning an EMV point-of-sale terminal read an EMV card. Also, acceptance of contact chip cards is now enabled at 58% of all merchant locations and 85% of ATMs, the trade group said.
- Shift4 Payments announced an integration with Venuetize, developer of software for entertainment venue operators.
- Processor Net Element Inc. launched a subscription-based payment service for U.S. small businesses through an agreement with independent sales organization Payment Club.
- A too-long online checkout process will prompt 87% of online shoppers to abandon their carts, found a survey from Splitit, an online installment-payment provider. A further 55% who abandon their carts also never return to that retailer’s Web site.
- Dish, which claims that in 2014 it became the first pay-TV provider to accept Bitcoin, said it added Bitcoin Cash as another cryptocurrency option. Dish also said it is now using BitPay as its processor for Bitcoin and Bitcoin Cash transactions.
With the economy still humming along, three of the nation’s biggest banks on Friday reported …