Sunday , April 5, 2020

SMBs Expect Further Demand Drop and other Digital Transactions News briefs from 3/25/20

  • A national survey of 850 small businesses found 69% have seen a “large drop” in demand because of the coronavirus pandemic, while 60% say they believe demand will drop further. The survey was conducted by America’s Small Business Development Centers and Thryv Inc., a software vendor specializing in small businesses.
  • The U.S. Faster Payments Council named Reed Luhtanen as its new executive director replacing Kim Ford, who announced her resignation earlier this month. Luhtanen has served on the Council’s board and was senior director of global treasury at Walmart Inc. He will take over on April 13.
  • In response to the Covid-19 outbreak, IDT Corp. said its Boss Revolution Money app will offer money transfers free through April 30 when customers use their debit card for amounts up to $2,999.
  • Cloud-based gift card technology provider VoucherCart Ltd. said it will offer unspecified cost savings to businesses using its platform during the Covid-19 pandemic.
  • Federal agents arrested and charged two men in connection with explosions at three ATMs in Florida’s Tampa Bay area in which the suspects allegedly have taken nearly $70,000 since November. The men also are suspected of spray painting three other ATMs.
  • With shops closing and the prime minister telling people to stay home, cash usage in the United Kingdom is down by half in the past few days, ATM network operator Link reported, according to The Guardian.
  • Financial technology company Ready launched a virtual kiosk that enables restaurants to offer a contactless on-premise pick-up ordering model.
  • The U.S. Payments Forum released its market snapshot of EMV and contactless payment trends.
  • The Western Union Co. announced Timothy P. Murphy, a former deputy director of the FBI and currently president and chief executive of Consortium Networks, has been appointed to its board of directors.
  • [Editor’s Note: This item appears today with the correct link to March 24’s BlueSnap news.] E-commerce payments provider BlueSnap Inc. said it is enhancing its Payments for Marketplaces product, which allows online merchants to launch and operate global e-commerce marketplaces. New services include auto-onboarding, split payments, and cross-border payment capabilities.

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