- Point-of-sale services provider National Retail Solutions announced wholesale grocery distributor Pitco Foods is selling NRS POS terminals in its four warehouse stores.
- A court ordered PayPal Holdings Inc. to give the Canada Revenue Agency, the country’s national taxing authority, information about Canadians with PayPal business accounts who sent or received payments between the start of 2014 and Nov. 10, 2017, the CBC reported.
- Visa Inc. said it is gearing up for a planned 2018 commercial launch of the Visa B2B Connect payments service, which the company said uses technology based on “blockchain architecture.” Visa is testing the service with Commerce Bank in the U.S. as well as one bank each in South Korea, the Philippines, and Singapore, with more to come.
- Terminal maker ExaDigm Inc. said its N5 Smart POS wireless payment device has been certified by merchant processor Total System Services Inc. (TSYS).
- Midsize and large e-commerce merchants incur $3.37 in costs for every dollar of fraud, according to the latest True Cost of Fraud study from LexisNexis Risk Solutions. The additional costs include chargeback fees, merchandise replacement, and employee costs.
- The Electronic Payments Coalition, an advocacy group for payment networks and financial institutions, released a study of 20 countries with various levels of EMV adoption indicating “there is no clear relationship between total card fraud and a country’s preference for using signatures or PINs.”
- PayStand, a startup providing a business-to-business payments platform, announced a $6 million Series A round led by BlueRun Ventures.
- With the first major U.S. shopping holidays a week away, 69% of Americans, an estimated 184 million people, are planning to shop or are considering shopping during the Thanksgiving weekend, according to a survey from the National Retail Federation and Prosper Insights & Analytics. The Thanksgiving weekend embraces Thanksgiving Day, Black Friday, Small Business Saturday, Sunday, and Cyber Monday.
- With the eighth annual Small Business Saturday coming up Nov. 25, 61% of U.S consumers are aware of the day, and 82% of them plan to patronize a small business on the day, according to a survey from the National Federation of Independent Businesses and American Express Co., which created the day in 2010.
A $6.2 Billion Pact May Be Only a Prelude to Difficult Haggling Ahead for Merchants And the Card Networks
Visa Inc. and Mastercard Inc. announced early Tuesday that they and defendant banks have agreed …