Tuesday , March 31, 2020

Competitive Strategies

Dwolla Appoints Payscape’s Harris to Succeed Founder Milne As CEO

Dwolla Inc. said Monday it has hired Brady Harris to be its new chief executive, replacing founder Ben Milne. Harris comes to the Des Moines, Iowa-based payments provider from Payscape, an Atlanta-based merchant processor. Milne, who indicated this winter he wanted to step down as CEO, will stay with Dwolla …

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EVO Payments Gets Liquidity Injection To Help It Cope with Covid-19’s Effects

Merchant acquirer EVO Payments Inc. disclosed Sunday that it had received a $150 million investment from a private-equity firm to help carry it through the Covid-19, or coronavirus, pandemic, which has decimated consumer spending. The investment came from funds affiliated with Chicago-based Madison Dearborn Partners LLC, which has been a …

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Pandemic Scammers Emerge and other Digital Transactions News briefs from 3/20/20

TriNet Group Inc., a human-resources software provider, said a wave of scammers are exploiting the Covid-19 pandemic to gull people into buying so-called cures for the disease (no cure yet exists), as well as fake testing kits and vaccines.The Western Union Co. reported its digital money-transfer business “has continued to experience …

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Card Networks To Postpone Interchange Adjustments

The payment card networks plan to postpone until July changes in their interchange schedules that they had planned to take effect in April, Digital Transactions News has learned. The delays come as many merchants, especially restaurants, hotels, and local retailers have closed or greatly reduced their operations as part of governmental attempts …

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Diebold Nixdorf Withdraws Full-Year Financial Guidance and other Digital Transactions News briefs from 3/27/20

ATM and retail-checkout equipment manufacturer Diebold Nixdorf Inc. withdrew its full-year financial guidance, saying that in some locations it “is seeing instances of product installation disruptions from coronavirus-related logistics challenges, which impacts the company’s ability to forecast product revenue.” The company also postponed its planned May 21 Investor Day event.PAR Technology Corp., …

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One-Click Checkout Startup Fast Gets $20 Million from Investors, Including Stripe

A San Francisco-based startup that claims to have a better mousetrap for e-commerce checkouts has raised $20 million in a Series A funding round led by a prominent online merchant acquirer, Stripe Inc. Fast AF Inc. said it will use the funding to accelerate the global rollout of its upcoming …

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Lightspeed’s 3-Month Fee Pause and other Digital Transactions News briefs from 3/26/20

Lightspeed POS Inc. said it is offering its Delivery, eCommerce, and Loyalty services free for the next three months because of the Covid-19 impact on merchants.Online fraud-prevention provider Signifyd released its Covid-19 Business Continuity Package that offers new clients free access to some Signifyd products.Payments provider Fattmerchant said it is now an official gateway partner …

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Prepaid Payments Veteran Dan Henry Takes Over at Green Dot As the Firm Looks to Rebound

After what it calls a “comprehensive search process,” prepaid-payments and banking-services provider Green Dot Corp. has found a new chief executive to replace founder and long-time CEO Steven Streit. The Pasadena, Calif.-based company said Wednesday payments veteran Daniel Henry is taking over from interim CEO William Jacobs, who has served …

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SMBs Expect Further Demand Drop and other Digital Transactions News briefs from 3/25/20

A national survey of 850 small businesses found 69% have seen a “large drop” in demand because of the coronavirus pandemic, while 60% say they believe demand will drop further. The survey was conducted by America’s Small Business Development Centers and Thryv Inc., a software vendor specializing in small businesses.The U.S. Faster Payments …

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In Response to Infection Concerns, the U.K. Raises Its Contactless Payment Cap by 50%

With much of the world locked down in combatting the novel coronavirus pandemic, a financial trade group in the United Kingdom said Tuesday the country would increase the spending limit on contactless transactions by 50% effective April 1. The move will allow consumers to pay without touching a keypad or …

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