News

October, 2020

• 2 October

  COMMENTARY: Open Banking Will Aid in the Economic Recovery—if We Let It

  

  There is no doubt that the pandemic has pushed the United States into a major economic decline. Many Americans are still out of work and interest rates have taken a nosedive. While some government stimulus plans have kicked in, that alone won’t be enough to make a full recovery.  We …
• 1 October

  Shift to Digital Payments Exposes Security Vulnerabilities, Fraud

  

  By Brett Petersen, EVP of Sales, GIACT One of the impacts of the Covid-19 outbreak has been an accelerated movement toward digital forms of payment. And, coupled with this movement, massive opportunities for fraud have also accelerated. At the outset of the pandemic, as physical storefronts began to temporarily close, …
• 1 October

  Six Months From Deadline, Large C-Store Chains Are Still Lagging on EMV at the Pump

  

  As the deadline inches closer for gas stations and convenience stores with fuel pumps to install in-pump EMV card readers, the good news is that c-stores are making steady progress. Overall, 31% of c-stores report not having any pump EMV-ready, down from 52% in the spring and 70% in 2019, …
• 1 October

  Parking Finds a Place in the Dashboard As Lear’s Xevo Unit Teams With Garage King Reef

  

  Few payments technologies have gained headwinds from Covid fears as much as contactless parking, and now drivers have an option to locate, reserve, and pay for a space from their in-car touchscreen. Xevo Inc., a developer of connected-car technology, announced Thursday it is enabling the parking feature with Reef Technology, …
• 1 October

  Worldline/Ingenico Deal Moves Ahead and other Digital Transactions News briefs from 10/1/20

  

  Ingenico Group S.A. said the European Commission approved Worldline S.A.’s $8.6 billion deal to acquire the point-of-sale terminal maker. Ingenico also said the French financial markets authority set Oct. 15 as the closing date for the tender offer for Ingenico securities. If successful, the acquisition could close Oct. 28, Worldline said.In related news, Ingenico …

September, 2020

• 30 September

  The Move to Digital Payments And Accounts Carries Risk for Businesses, Report Says

  

  As more consumer and business activity, let alone shopping, migrates to digital channels, the potential for additional risk increases. A new white paper from Giact Systems LLC outlines where some of the risk may be emerging. The Allen, Texas-based payments and identity-fraud prevention firm said undetected fraud can erode consumer …
• 30 September

  Square Promotes QR Codes for Eateries As the Contactless Technology Gains a U.S. Payments Footing

  

  Square Inc.’s announcement Tuesday of its new QR code service for restaurants helps bring the contactless technology into the limelight, but it’s only the latest in a string of moves payments providers have made in recent months to position the barcode as a payments enabler. In Square’s scenario, eateries that …
• 30 September

  Blackhawk’s New Gift Card Issuing Service and other Digital Transactions News briefs from 9/30/20

  

  Blackhawk Network launched its Issuance and Program Management Solution, a service that enables companies to outsource their gift card and digital gift programs through Blackhawk. The new service is enabled by the company’s recent acquisition of SVM, a provider of open- and closed-loop gift card technology.Payroc LLC said its affiliate invested $2.6 …
• 29 September

  Restaurants Turn to Technology to Keep Sales Tax on the Operations Menu

  

  Paying sales tax is part of doing business for restaurants, but not all restaurants are adept at collecting it. With this in mind, Davo Technologies, a provider of an automated sales tax collection application, has integrated its app into Heartland Payment Systems Inc.’s POS platform for restaurants. The Davo app …
• 29 September

  After Months of Preparation, Amazon Launches Its Palm-Payment Technology

  

  Amazon.com Inc.’s venture in letting consumers pay with the palm of their hand officially launched Tuesday at two Amazon Go stores. But the retailing giant’s latest payment technology could face an uncertain future even as stores struggle with how to introduce contactless methods in the face of the Covid-19 pandemic. …