As consumers increasingly turn to fintechs rather than banks, money decisions and payments share are shifting away from traditional financial institutions, according to a study from data-analytics firm Fair Isaac Corp. (FICO). Some 34% of consumers have at least one account with, or conduct financial activity with, a nonbank provider, while …
Read More »Like many of its rivals, Fiserv Inc. is looking for ways to prosper as hope begins to rise for a recovery from the Covid-19 pandemic that has ravaged much of the world. Tuesday afternoon, the Brookfield, Wis.-based payments provider revealed a promising report card for its fourth-quarter performance, with high-flying …
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Top management at FIS Inc. made it plain Tuesday morning that growth through further acquisitions is a key priority only about 18 months after the company completed its massive buyout of the merchant processor Worldpay. But while the Jacksonville, Fla.-based company still keeps its powder dry for M&A, executives on …
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Consumers continue to show affinity for using mobile wallets for payments with debit-based mobile wallet use growing at 59.6% for the week ending Jan. 31, compared to the week ending Feb. 2, 2020, according to the PSCU Tracking Transaction Trends report. Credit-based mobile wallet use was up 35.7%. The results include the …
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Merchants that use multiple acquirers may benefit from more than just payment-acceptance resiliency. Some—85%—have seen an increase in their conversion rates, finds a study from Edgar Dunn & Co. commissioned by Naples, Fla.-based ACI Worldwide Inc. In the study, which surveyed 93 merchants and 68 payment-service providers, 43% of the …
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Global Payments Inc. will move its acquiring technology to Google Cloud and serve as a worldwide merchant acquirer for Google under a sweeping agreement announced Monday morning. The pact will also allow Global’s merchant clients to access a long list of Google Cloud services, ranging from payments to data and …
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ParkMobile LLC said its mobile app will allow students at the University of Wisconsin-Superior to pay for parking at 420 spaces in seven lots on campus.Visa Inc. said it U.S. consumer cardholders now have access to NortonLifeLock, a digital safety service.Atlantic-Pacific Processing Systems NV Corp. made several improvements to its APPSos customer relationship management service.NCR …
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Against the backdrop of an overall decline in small businesses’ satisfaction with payment processors, Square Inc. ranks highest with a score of 857 out of 1,000, according to the J.D. Power 2021 U.S. Merchant Services Satisfaction Study. PayPal Holdings Inc. comes in second with a score of 852, with Bank of America Merchant …
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The Western States Acquirers Association announced two new board members, Amanda Beam of Humboldt Merchant Services and Glenn Smith of NCR Corp. Also, Scott DeFazio, Fiserv Inc., was elected secretary for 2021 and Jason Putnam, The Independent Bankers Bank N.A., Deborah Camm, SafraPay, and Lane Connor, Fuzse, were reelected as president, vice …
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Payments provider Lightspeed POS Inc. reported total revenue of $57.6 million for the quarter ended Dec. 31, up 79% year-over-year. Revenue was $49.3 when excluding the recent acquisitions of payments providers ShopKeep and Upserve. The company’s merchant base grew 74% year-over-year to 115,000, or 84,000 excluding the acquisitions, up from 66,000.Fiserv Inc. and the Inclusive Innovation …
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