Tuesday , March 19, 2019

57% of In-Store Transactions Are Chip-on-Chip and other Digital Transactions News briefs from 8/9/18

  • 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.

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