Friday , March 29, 2024

Competitive Strategies

U.S. Households Spend $25,513 Annually on the Top 10 Bills

Consumer bill payments for the 10 most essential bills sum to $25,513 annually on average, according to new data from doxo inc., a bill-payments provider. Doxo’s “2024 U.S. Household Bill Pay Report” says that total corresponds to 34% of a consumer’s income spent across mortgage or rent, auto loans, utilities, …

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Blockbuster Deals Aside, a Slower M&A Trend Continues to Grip the Payments Industry 

The news nearly three weeks ago that Capital One Financial Corp. is looking to acquire Discover Financial Services stunned the payments industry. But even if the $35.3-billion deal closes in the coming months it will represent a notable exception in the middle of a continuing slowdown in merger-and-acquisition activity in …

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Zil Money Surpasses $70 Billion in Volume and Other Digital Transactions News briefs from 3/8/24

Zil Money Corp. reported its automated check-payment app, OnlineCheckWriter.com, has passed $70 billion in volume since its inception in 2018. The service relies on various payment methods, including the automated clearing house, real-time payments, and QR codes. The payments platform Nayax Ltd. announced an offering of 3.13 million of its ordinary shares at …

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Paysafe’s Top Brass Notes Some Improvement But Adds Much Is ‘Yet to Be Done’

Bruce Lowthers has been a man on a mission since taking over as chief executive at a struggling Paysafe Ltd. nearly two years ago, and early on Thursday he laid out an agenda for the work his company has yet to do. While he touted some improvement so far, “there …

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Cautious Consumer Spending Depresses CPI Card Group’s Sales

CPI Card Group Inc. posted $444.5 million in net sales in 2023, a 7% decrease from 2022. The card and payments solutions provider saw an even larger drop during the fourth quarter, posting net sales of $102.9 million, a 19% year-over-year decrease. CPI attributed the declines to cautious consumer spending, …

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PayPal Adds Tap to Pay on iPhone And Other Digital Transactions News briefs from 3/7/24

PayPal Holdings Inc. said Tap to Pay on iPhone is available for all Venmo business profile and PayPal Zettle users in the United States. Tap to Pay on iPhone enables merchants to accept contactless payments using an iPhone with no extra hardware, only a payments app. The service had been in …

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Follet Partners with GK Software; Transact Rolls Out a B2B Portal

Follet Higher Education, an educational service provider and omnichannel retailer, has selected GK Software SE as its cloud-based point-of-sale provider for its more than 1,000 college campus and online stores in the United States and Canada. Follet will deploy such apps as GK Software’s OmniPOS, which supports mobile POS, self-check-out, …

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PayRange Battles Alleged Patent Misuse And Other Digital Transactions News briefs from 3/6/24

Unattended payments specialist PayRange Inc. said it filed a patent infringement lawsuit against CSC ServiceWorks, an operator of laundry machines in multi-family housing and college dorms. This is in addition to a previous patent infringement suit it filed in March 2023 against CSC ServiceWorks. In the new suit, PayRange seeks more than …

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Eye on Restaurants: SpotOn Adds a Marketing App; IHG Hotels & Resorts Partners With eTip

Payment technology provider SpotOn Transact LLC looks to expand its footprint in the highly competitive business of restaurant payments with the introduction of SpotOn Marketing Assist, an app that automates email and social-media marketing campaigns for restaurants. The app—which integrates with Spot On’s SpotOn Restaurant POS, SpotOn Order, and SpotOn …

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CFPB’s New Card Late Fees Cap and other Digital Transactions News briefs from 3/5/24

The Consumer Financial Protection Bureau finalized a rule that caps late fees on credit card payments to $8, down from a typical $32. The rule goes into effect 60 days following its publication in the Federal Register. Other provisions include ending automatic annual inflation adjustment on the fee and requiring larger card …

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Digital Transactions