News

February, 2024

• 16 February

  Toast Reports a Robust 2023 And Fourth Quarter As Dining Maintains Its Rebound

  

  Shares in restaurant point-of-sale specialist Toast Inc. were trading modestly up early Friday following the company’s release late Thursday of December-quarter and full-year results indicating double-digit increases in client locations and payments volume and offering further evidence of the hospitality industry’s recovery from the 2020 pandemic. The results came as …
• 16 February

  Smaller Issuers Have Better Rates, CFPB Says and other Digital Transactions News briefs from 2/16/24

  

  The Consumer Financial Protection Bureau’s most recent analysis of card issuing practices found that in the first half of 2023 small banks and credit unions tended to offer lower interest rates than the top 25 issuers. For consumers with scores between 620 and 719, the median annual percentage rate for a large …
• 15 February

  Booming Same-Day ACH Volume Is Up 22%

  

  Volume for automated clearing house transactions cleared and settled on the same day they’re initiated increased 22.3% in 2023, signaling the embrace of same-day ACH by the payments industry, Nacha says. Same-day processing was launched nearly eight years ago. Nacha, a rulemaker for the ACH network, says overall ACH volume …
• 15 February

  If Top Card Execs Must Testify, So Should Merchant Leaders, CCCA Opponents Argue

  

  Days after Sen. Dick Durbin, D-Ill., sent letters to the chief executives of Visa Inc. and Mastercard Inc. demanding they testify before the Senate Judiciary Committee about their opposition to the Credit Card Competition Act, the Electronic Payments Coalition is asking why the committee is not requesting that leaders of …
• 15 February

  Shift4’s AI-Based Site Builder And Other Digital Transactions News briefs from 2/15/24

  

  Shift4 Payments Inc. launched SkyTab Website Builder, a tool enabling restaurants to more easily design a Web site. Businesses using Shift4’s SkyTab point-of-sale payments technology can access the new service for free. Blackhawk Network announced Select Codes, which businesses can send to customers to enable access to prepaid gift cards. Bank of …
• 14 February

  Fiserv Partners With NCR Atleos to Add Self-Service to Its CheckFreePay Bill Payment Network

  

  Fiserv Inc. has expanded its CheckFreePay bill-payment network to include self-service capabilities through NCR Atleos ATMs. CheckFreePay users will be able to pay their bills in cash at thousands of NCR Atleos ATM locations, including top-10 retailers, grocery stores, convenience stores, and pharmacies in the United States. Previously, ATMs that …
• 14 February

  Global’s ‘Profac’ Model Starts Paying Dividends for Its Acquiring Business

  

  A new tactic Global Payments Inc. began pursuing last year is delivering continuing benefits for the company as its merchant-solutions unit saw year-over-year point-of-sale volume growth of around 20% in the fourth quarter, top management at the big Atlanta-based processor said early Wednesday. Much of the credit for the growth …
• 14 February

  FIS’s Pay by Bank Path And Other Digital Transactions News briefs from 2/14/24

  

  FIS Inc. said it is working with Banked, an open-banking provider, to develop new pay by bank services for businesses and consumers. Gateway provider Trice Technologies Inc. said it is a technology provider and real-time payments gateway for the RTP network from The Clearing House Payments Co. LLC. Web services and payments provider GoDaddy …
• 13 February

  eTip Brings Digital Tipping To Davidson Hospitality Properties

  

  The digital-tipping provider eTip announced late Monday it has partnered with Davidson Hospitality Group to make its service available to Davidson’s 85 hotels and resorts, as well as the company’s more than 200 restaurants, bars, and lounges in the United States. To initiate a payment through eTip’s application, consumers scan …
• 13 February

  Radial Adds Link Money’s Pay by Bank for Account-to-Account Payments

  

  E-commerce platform Radial Inc. is giving its merchants a new payment option that bypasses traditional credit and debit card payments and instead relies on account-to-account transfers. Dubbed Pay by Bank, the service was developed by Link Financial Technologies Inc., which does business as Link Money, an open-banking platform. King of …