Wednesday , December 12, 2018

Macy’s New Self-Checkout Feature and other Digital Transactions News briefs from 3/20/18

  • Macy’s Inc. said it is launching a self-checkout feature in its mobile app that lets customers scan an item with their phone and pay with a registered card. So-called mobile-checkout stations validate purchases, take off security tags, and bag the goods. The launch follows a test at the chain’s Woodbridge, N.J., store.
  • In its first earnings report since its Feb. 8 initial public offering, marketing services provider Cardlytics Inc. reported that fourth-quarter 2017 revenues rose 8% year-over-year to $39.3 million. The company posted a net loss of $4.42 million compared with a year-earlier loss of $7.29 million. Cardlytics’ main product, Cardlytics Direct, which provides targeted advertisements for merchants through bank and credit-union online and mobile-banking channels, generated $38.8 million in revenues in the fourth quarter, up 22%.
  • Currencycloud, a cross-border payments fintech, launched Global Collections, a multicurrency accounts-receivable option that it says lets banks and other payments companies receive international payments with lower costs, wait times, and friction.
  • Payments provider ACI Worldwide said finance company Avid Acceptance has contracted to use ACI’s UP bill-payment product, which ACI says offers a pay-by-text capability and will lower Avid’s debit card costs.
  • Shift4 Payments announced it is providing payment services to users of SkyWire, developer of hospitality point-of-sale software.
  • Payout provider Hyperwallet said it is working with Lyric Financial, which specializes in royalty payments for recording artists, to use Hyperwallet’s services.
  • Fraud-mitigation specialist Kount Inc. released its Boost Safety Rating feature to help merchants better assess potentially fraudulent transactions.
  • Payments platform provider Shopify Inc. said its “shopping on Instagram” service has expanded to eight more countries: the United Kingdom, Australia, Canada, Germany, France, Italy, Spain, and Brazil. Shopify recently integrated its platform with Alphabet Inc.’s Google Pay.
  • ATM network operator FCTI Inc. has rolled out Diebold Nixdorf Inc.’s Vynamic ProFlex4 software platform on 7,500-plus ATMs in more than 30 states.
  • TDECU, said to be the largest credit union in Houston, has contracted with Cardtronics to manage its fleet of 105 on-premise ATMs as well as off-premise machines in convenience stores and other locations.
  • Payments-technology provider MagTek noted the one millionth transaction made using CyrptoPay, a service from enterprise software developer Genesys Technologies that uses MagTek’s gateway. MagTek also said it joined the National Automatic Merchandising Association.
  • The FIDO Alliance, an organization that develops specifications for online authentication, introduced two tiers for authenticators going through its certification program, Level 1 and Level 2. More levels will be introduced later, the group says.

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