It’s become a common assertion in the payments business that consumers are turning to online sites for shopping as they contend with the various impacts of Covid-19. Now government data indicates just how well-founded that assertion is. E-commerce dollar volume in the second quarter totaled $211.5 billion, up 32% from …
August, 2020
-
27 August
A Covid-Inspired Push for Embedded Payments Helps Spur Four-Fold Growth for Finix
With more independent software providers and financial-technology companies embedding payment capabilities in their applications, Finix Payments Inc., a provider of payment applications, has seen its transaction volume jump more than fourfold from the second quarter of 2019 through the second quarter of 2020. Key drivers of the growth include a …
-
27 August
Klarna Sees Both Online And In-Store Volumes Grow as the U.S. Market Looms Large
Online volume has soared for Klarna AB but the Swedish payments company’s efforts to go into physical stores are also bearing fruit, the company reported early Thursday. Klarna, which offers consumers the opportunity at checkout to extend payments over time, reported its “in-store proposition” is now active in 10 geographic …
-
27 August
Bill.com Teams With Keybank And Other Digital Transactions News From 8/27/20
Cloud-based business software provider Bill.com has teamed with KeyBank to launch Key CashFlow, an online-banking facility that streamlines payments for small businesses.Point-of-sale installment lender Affirm Inc. said it is working with David’s Bridal to allow brides to pay for their wedding gowns with payments over three or six months at …
-
26 August
Visa Leverages Artificial Intelligence for Smarter Stand-in Processing
Refused transactions are frustrating enough for cardholders and merchants, but during a pandemic they could be especially nerve-wracking. Visa Inc. on Wednesday announced a new service for stand-in processing that the payments network says should yield faster and more accurate results when issuers’ systems are down. The new Smarter STIP …
-
24 August
MagicCube Looks to Expansion as Contactless Grows And Fresh Investment Pours in
With the Covid-19 pandemic accelerating consumer use and merchant acceptance of contactless cards, technology companies are scrambling to exploit new opportunities stemming from the trend. One technology that could get a boost is software that can turn any off-the-shelf smart phone into a payment-acceptance device, a development the major card …
-
23 August
Amid Covid-19, Fintechs Use Debit to Boost Their Lending, Savings, And Investing Apps
With underbanked consumers and gig workers looking for financial products to help them track spending, create savings, and manage debt, many financial-technology companies are layering debit products onto their core application to attract and retain customers. A driving force behind fintechs’ growing fondness for debit is that it is a …
-
20 August
Digital Payments Strengths Help Adyen Weather the Pandemic
Executives at Adyen N.V. maintained an upbeat tone Thursday in the face of a global coronavirus pandemic that has shut down many businesses, thrown consumers out of work, and upended shopping habits. “Our business has proved itself resilient despite the impact of the pandemic,” said Pieter van der Does, chief …
July, 2020
-
17 July
COMMENTARY: Covid-19 Changed Demand for Cashless Payments. Are Small Businesses Ready?
The month of June gave Google Pay an extended moment. Early in the month, the tech press started circulating rumors that Google planned to add merchant buttons inside the app. This feature would allow both digital and brick-and-mortar businesses to accept customer payments within Google Pay. But users in India …
-
14 July
COMMENTARY: How 3-D Secure 2.0 Will Change the Payments Industry
With the massive increase in e-commerce this year, and new merchants moving to an online model out of necessity, combating card-not-present fraud is incredibly important. EMV 3-D Secure 1.0 (or 3DS1) has been continually upgraded as technology and consumer habits changed; however, from its first iteration it has always had …