Friday , June 5, 2020

Kevin Woodward

Kevin's role at Digital Transactions is to write news and features stories for publication on the Web site and in the magazine. He also oversees the digital editorial aspect of the site and the Digital Transactions News daily newsletter.

Eye on Acquiring: VizyPay’s Echo Daily Acquisition; Nuvei Debuts Small Business Support Program

Independent sales organization VizyPay LLC is buying one-time competitor Echo Daily Inc., and Nuvei Technologies Inc. is launching its Merchant Guru program to assist merchants affected by the Covid-19 outbreak. West Des Moines, Iowa-based VizyPay says its acquisition of Minden, Nev.-based Echo Daily will provide a boost in employee expertise …

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Eye on Merchants: CardFlight Says Small Business Sales Down; E-Commerce Sales Growth Continues

A decline in transactions at small and mid-size businesses accelerated through March as consumers react to shelter-at-home and social-distancing precautions, according to data from point-of-sale technology provider CardFlight Inc. But their spending shifted to e-commerce in many merchant categories, finds data from Signifyd, a vendor of e-commerce fraud solutions. Sales …

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U.S. Real-Time Payment Volume Could Top 4.2 Billion by 2024, ACI Report Finds

Big hopes for broader real-time payments adoption in the United States could be fulfilled if ACI Worldwide Inc.’s prediction of 4.2 billion in real-time payment transactions by 2024 bears out. In its “Prime Time for Real-Time” report released Wednesday, ACI and research firm GlobalData Plc, forecast the U.S. real-time payment …

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U.S. E-Commerce Growth Surges for Many Merchants Amid the Covid-19 Pandemic

Newly analyzed data from Emarsys, a digital-marketing platform, shows that U.S. e-commerce spending continues to surge in the face of the Covid-19 pandemic, with at least a 57% growth in revenue and a 45% growth in orders in the past seven days. The U.S. Northeast region shows a 57% growth …

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Shift4 Data Quantifies a Heavy Coronavirus Impact on Restaurants And Hotels

Sobering data from Shift4 Payments LLC shows that U.S. hospitality-industry transaction volume plummeted in mid-March as consumers sheltered in place and travel, both business and personal, waned. Restaurant volume fell from 42 million transactions to 11 million, a 74% decrease for the period from the week of February 2 to …

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Growth in Mobile Fraud Far Outpaces Growth in M-Commerce, TransUnion Study Finds

With 78% of e-commerce transactions in 2019 coming from mobile devices, retailers have good reason to invest in their mobile-shopping experiences. Doing so, however, is not without risk, says credit-reporting agency TransUnion in its Global E-Commerce in 2020 report released Tuesday. The report is based on approximately 10 billion transactions …

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Contactless Payment Use Drops, But Not As Much As Chip And Magstripe, a Report Finds

With students not in school, the closure of restaurants and bars, and work-from-home edicts in place, consumer spending is shifting. Witness that in the week of March 9-15, the payment volume made with dipped EMV cards fell 5.17% from the week prior and mag-stripe volume fell 13.07%, according to the …

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Shift4 To Suspend Some Fees, Joining Others in Crafting Ad Hoc SMB Relief Efforts

Payments providers are rallying support for small businesses, especially restaurants and hospitality merchants, contending with the effects of the coronavirus and urgent calls for social distancing. Just Tuesday, Nevada Governor Steve Sisolak ordered all casinos and other nonessential businesses, such as personal health and beauty businesses, to close for 30 days.  …

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Newly Formed Repay Reports a 44% Payment Volume Increase for 2019

Repay Holdings Corp. said its 2019 card payment volume of $10.7 billion was a 44% increase over the combined 2018 figures for its constituent units, the Atlanta-based processor reported Monday. Formed in mid-2019 through the merger of Hawk Parent Holdings LLC and a subsidiary of Thunder Bridge Acquisition Ltd., Repay …

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Eye on Acquiring: Revel Starts Merchant Hardship Fund; SEAA Conference Moves to June

The unprecedented impact of dealing with the coronavirus outbreak encircling the globe has hit close to the payments industry. Several conferences have been postponed or canceled, and one vendor has set up a relief fund for merchants. Point-of-sale system maker Revel Systems Inc. created the Revel Relief Program, which can help …

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