- Cardtronics plc chief executive Edward West pointed to a long-term effect from the Covid-19 pandemic that he said could prove beneficial for the company, the world’s largest ATM operator. “We also believe that this crisis will likely accelerate the trend of bank branch transformation as several leading retail banks have already closed significant portions of their branch locations, and it is unclear how many of these will re-open when the pandemic has passed,” West said in a release discussing the fourth quarter. Cardtronics reported total revenue of $306.6 million, down 4% year over year.
- Oto Analytics Inc., which does business as Womply, said it is working with Opportunity Insights, a team of researchers and policy analysts at Harvard University, to launch a real-time tracker of Covid-19 economic impact.
- In collaboration with Social Finance Inc. (SoFi), Samsung Electronics Co. said it will launch this summer a debit card backed by a cash-management account for its 5-year-old Samsung Pay mobile-payments service. The effort is part of a “broader vision” for Samsung Pay, the company said.
- SpotOn Transact Inc. said it is working with online lender SoFi to help merchants with financial relief programs.
- The Consumer Choice in Payment Coalition has formed to “advocate for the continued availability of cash as a payment option.” The group is backed by ATM manufacturers, ATM and armored-car trade groups, and consumer advocates.
- Fifty-three percent of consumers said they’d be willing to switch insurers if they could get instant claim payments, according to a survey of 502 consumers who had filed a claim in the past three years. The survey, sponsored by claim-payment specialist VPay, took place in late January and early February.
- In its first forecast for Canadian person-to-person payments market, research firm eMarketer Inc. estimates Canada has 6 million users representing 19.7% of the population. That percentage significantly trails the U.S., where 30.6% of the population uses P2P services. One reason for the difference, according to eMarketer, is that while most U.S. providers charge no transaction fees for their basic service, Canada’s dominant P2P service, Interac eTransfer from the Interac Corp. debit network, charges C$1.50 to the funds originator, though financial institutions determine retail pricing.
- Payments provider Klarna AB said it has integrated with beauty retailer Sephora to enable installment payments on the merchant’s Web site.
- Bluefin Payment Systems LLC said its Decryption Management Component received point-to-point encryption version 3.0 certification from the PCI Security Standards Council.
- Four payments companies have formed the European Digital Payments Industry Alliance, an organization tasked with furthering the competition of the Digital Single Market in Europe, which is a European Commission effort to unify separate digital markets into a single entity.
Growing numbers of consumers continue to grab their debit cards when shopping, with the overall …