Friday , November 27, 2020

Breaking News

LightSpeed Arms Itself for Heavy-Duty Competition With Its Acquisition of ShopKeep

Lightspeed POS Inc. on Thursday acquired ShopKeep Inc., a payments and commerce provider, for $440 million in cash and stock. Under the terms of the deal, Lightspeed will pay $145.2 million in cash and issue 9.5 million subordinate voting shares. The deal is expected to close by Dec. 31. RBC …

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Buoyed by Merchant Acceptance, Fiserv Comes Close to Returning to Pre-Covid Levels

Led by its merchant-acquiring unit, Fiserv Inc. in the quarter ended Sept. 30 continued its rebound from the wallop it took from Covid-19. The Brookfield, Wis.-based company reported total revenue, adjusted for its First Data Corp. acquisition in July 2019, of $3.59 billion for the quarter, down a slight 1% …

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Contactless Is Gaining Favor Fast Among Consumers And Merchants, AmEx Data Show

Consumer demand is so strong that 81% of merchants surveyed by American Express Co. intend to make contactless payments a permanent option at the point of sale. Some 70% of merchants say their customers have asked for contactless payments, J.J. Kieley, vice president of the AmEx Payments Consulting Group, tells Digital …

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Visa Leverages Artificial Intelligence for Smarter Stand-in Processing

Refused transactions are frustrating enough for cardholders and merchants, but during a pandemic they could be especially nerve-wracking. Visa Inc. on Wednesday announced a new service for stand-in processing that the payments network says should yield faster and more accurate results when issuers’ systems are down. The new Smarter STIP …

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EVO Teams With OTI And Other Digital Transactions News Briefs From 8/26/20

EVO Payments Inc. said it will offer payment equipment and services from On Track Innovations Ltd. to independent software vendors and unattended payments merchants.Bluefin Payment Systems LLC announced that Invoice Cloud, an electronic bill presentment and payment provider, will use Bluefin’s point-to-point encryption service.Data security services provider ControlScan Inc. said …

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Discover’s Car Commerce and Other Digital Transactions News Briefs from 8/25/20

Discover Network said it has allied with fintech Car IQ to develop a payment platform to enable automotive fleets to conduct in-car transactions through the Discover global network.In announcing its latest smart watch, Fitbit Sense, Fitbit says its Fitbit Pay digital wallet is included for contactless transactions, a feature the company says plays …

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Apple’s Mobeewave Deal Could Turn iPhones Into No-Dongle POS Devices—Just Not Right Away

Apple Inc. has reportedly acquired technology that enables smart phones equipped with near-field communication to act as point-of-sale devices with no other hardware. In the deal, news of which broke as the weekend began, the Cupertino, Calif.-based iPhone maker has bought Mobeewave Inc., a 9-year-old technology firm based in Montreal. …

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Synchrony’s Retailers Suffer a Blow to Purchase Volume

The hits merchants are taking from the Covid-19 pandemic were apparent in the second-quarter financial results the big retail and cobranded card issuer Synchrony Financial reported Tuesday, results which include a 19% year-over-year drop in purchase volume. Stamford, Conn.-based Synchrony posted purchase volume of $31.2 billion versus $38.3 billion in …

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Big Banks See Credit Card Purchases Plunge by More Than 20% in the Second Quarter

Three of the nation’s largest banks reported Tuesday that their credit card purchase volumes fell by more than 20% in the second quarter as the Covid-19 pandemic slammed the brakes on the economy, though things were better on the debit card side. New York City-based JPMorgan Chase & Co., the …

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A Report Shows Why Cardless ATMs Are Growing More Popular in the U.S.

The number of ATMs providing the option of cardless withdrawals rose 26% in 2019, says a new report from research firm RBR. Leading the charge in the adoption of cardless ATMs is the United States, where the number of these machines has more than tripled, according to the research.  Bank …

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