Friday , April 3, 2020

Pricing

Consumers Warm to Digital Payments and other Digital Transactions News briefs from 4/2/20

Seventy-three percent of U.S. adults say they would be more or much more likely to use digital payments or digital banking services during a time of social distancing, according to a survey of 1,043 persons aged 18 and up by The Harris Poll on behalf of William Mills Agency. The canvass took …

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PayPal Announces Fee And Loan Relief for Merchants Impacted by Covid-19

As the Covid-19 pandemic impacts businesses worldwide, global payments companies are starting to respond with relief. The latest is PayPal Holdings Inc., which on Tuesday announced several measures aimed at cutting fees and deferring loan payments for merchants. More than 24 million businesses accept payments or other services from PayPal. …

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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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Electronics Payments Suspends Fees and other Digital Transactions News briefs from 3/19/20

Electronic Payments Inc. said it will temporarily suspend the monthly support fees for its TableTurn and Exatouch Point of Sale products for three months.JPMorgan Chase & Co. is temporarily closing 1,000 of its bank branches, or 20% of its network, because of Covid-19, according to press reports. The remaining open branches will …

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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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No Safe Haven: Bitcoin And Other Cryptos Plunge Along With Equities in the Face of the Coronavirus

As stock markets swoon in the face of the novel coronavirus outbreak and its effects, prices for cryptocurrencies like Bitcoin are sliding as well, disproving at least for now the idea that cryptos can serve as a so-called safe haven for investors. Bitcoin, the leading digital currency, was trading at …

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Nacha Cancels 2020 Payments Event and other Digital Transactions News briefs from 3/16/20

Nacha’s Smarter Faster Payments 2020 Conference has been canceled because of concerns related to the novel coronavirus. Nacha said it is trying to develop a free virtual event with select educational content. Next year’s conference is scheduled for April 25-28 in San Francisco.Dueling bills have been introduced in the Delaware Legislature that would …

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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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SurchX Sold to InterPrivate and other Digital Transactions News briefs from 3/9/20

Private-equity firm InterPrivate LLC announced the acquisition of SurchX, a payments provider offering surcharging programs. SurchX was renamed InterPayments. Terms were not disclosed.ParTech Inc., a subsidiary of PAR Technology Corp., announced an application programming interface integration with eTouchMenu, a digital-menu provider, and ParTech’s Brink POS software.Priority Payment Systems, a subsidiary of …

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Cafe Settles Surcharging Case and other Digital Transactions News briefs from 2/27/20

A Wichita, Kan.-based restaurant chain will settle for more than $60,000 a case alleging it illegally added 4% surcharges on credit card transactions, The Wichita Eagle reported. Kansas is one of the four states that prohibit credit card surcharging.Big U.S. banks are providing the best payments-acceptance experience for merchants, but non-banks such as PayPal Holdings Inc. and Square …

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