News

May, 2022

• 24 May

  E-commerce Sales Through Marketplaces Are on a Roller Coaster Ride

  

  The wave that lifted sales through e-commerce marketplaces during the initial stages of the Covid-19 pandemic is losing energy, according to data from Extensiv, a provider of omnichannel fulfillment solutions. Growth in average orders per merchant through Shopify Inc. has decreased 12% year to date, while other marketplaces—including eBay, Etsy, …
• 23 May

  COMMENTARY: It’s Time Business Payments Modernized Like Consumer Payments Did

  

  Using services like Zelle, Cash App, Venmo, and PayPal is a no-brainer when it comes to making payments in our personal lives. In fact, 94% of Millennials, 88% of Gen Xers, and 87% of Gen Zers are using payment apps in place of cash and credit cards. Now there’s a …
• 23 May

  Eye On Restaurant POS: New Tech From Toast, Squirrel System, Revel Systems, And Tray

  

  As restaurants bounce back from the major blow delivered at the outset of the Covid 19 pandemic, restaurant point-of-sale technology has become a competitive advantage. The trend is evidenced by new applications from several restaurant POS technology providers, announced over the weekend, along with deals they are cutting with third-party …
• 23 May

  Social Life Blends QR Codes With Crypto to Spark Mobile Payments for Retail Niches

  

  Two of the busiest trends in payments are quick-response (QR) codes and cryptocurrency, and now payments players are finding ways to blend the two. Social Life Network Inc. on Friday said its Decentral Life unit has added a QR code application for its platform supporting digital wallets and payments. The …
• 23 May

  EVO Payments Acquires North49 and other Digital Transactions News briefs from 5/23/22

  

  Payments provider EVO Payments Inc. announced it has acquired North49 Business Solutions Inc., to enable integrated payment services for businesses using the Sage accounting system. Terms were not announced.Restaurant specialist SpotOn released a report on the impact of inflation on restaurants that found the biggest average price increase was in seafood restaurants, up 19% …
• 20 May

  Open Banking in the U.S. Is Moving Ahead, But Not Without Some Debate About Standards

  

  With open banking fast becoming the backbone of today’s payments landscape, the need for an industry standard to ensure protection of consumer data is moving front and center. In the United States, where no such standard currently exists, the payments industry is at odds over whether the country should adopt …
• 20 May

  Outdoorsy Picks PayPal’s Pay in 4 and other Digital Transactions News briefs from 5/20/22

  

  Outdoorsy, a company that arranges rental of recreation vehicles, said it will accept payments through PayPal Holdings Inc.’s buy now, pay later service, Pay in 4.Klarna AB initiated a three-day event called “Dream Deal Days” to observe hitting 150 million users and 400,000 merchant partners. The event, held across 19 markets around …
• 19 May

  Square’s New Tools Aim to Keep Restaurants a Step Ahead in the Technology Arms Race

  

  Block Inc.’s Square unit late Thursday unveiled a suite of hardware and software tools the company says is aimed at helping restaurants manage orders, payments, and their overall business more efficiently as they wrestle with worker shortages and other fallout from the pandemic. The new technology also comes as competition …
• 19 May

  North American Bancard Partnership with PayTrace Offers Exciting Ecommerce, B2B Opportunities

  

  With the demands placed on ecommerce and business-to-business payments, it is only fitting that merchants rely on a gateway with expert-level knowledge and years of experience. PayTrace, which North American Bancard acquired earlier this year, has maintained such Level-2, Level-3, and B2B expertise for more than 16 years. Now, with …
• 19 May

  The Bahamian Sand Dollar Is the First CBDC to Use Facial Recognition to Verify Users

  

  Central bank digital currencies are still a relatively new payment method around the world, but now they’re starting to address the issue of user authentication, and at least one is doing it with facial-recognition technology. PopID Inc. on Thursday announced holders of the Bahamian Sand Dollar, one of the first …