News

August, 2024

• 13 August

  Debit Is Consumers’ Preferred Bill Pay Method, Despite Inflation Woes, a Study Finds

  

  Debit cards are consumers’ favored method for paying bills, according to a report from bill-payment network doxo Inc. Some 62% of doxo users pay their bills using debit cards, compared to 24% who use the automated clearing house and 15% who opt for credit cards, according to doxo’s “The Bill …
• 13 August

  Lowthers Cites Steady Progress at Paysafe, But Says ‘We’re Not Done’

  

  When Bruce Lowthers took over a struggling Paysafe Ltd. two years ago, he immediately plunged into what he noted then was a wide-ranging reclamation project. On Tuesday, he called out some progress but also offered a blunt update on his transformation efforts. “We have the right strategy and our execution …
• 13 August

  X9 To Develop New QR Code Payments Standard  and other Digital Transactions News briefs from 8/13/24

  

  The Accredited Standards Committee X9 Inc. has begun work on a new QR code payments standard. The goal is to establish the content of a QR code for payments, emphasize interoperability, and include both merchant-presented and consumer-presented QR codes. X9 said the standard is needed to accelerate the adoption of instant payments. Block …
• 12 August

  Payroc Partners With Moneris Solutions to Offer Card Present Payments in Canada

  

  Payments platform provider Payroc WorldAccess LLC has agreed to work with processor Moneris Solutions Corp. to provide card-present payments in Canada. The partnership with Toronto-based Moneris enables Tinley Park, Ill.-based Payroc to provide independent software vendors and small and medium businesses with a single platform for processing card-present transactions in …
• 12 August

  M&A Is Unpredictable, But Deals Are Emerging As CEOs Plan for Economies of Scale

  

  Payments has always been an acquisitive business, as economies of scale loom large for CEOs and CFOs and buying that scale can often look cheaper and quicker than building it over time. But so far, activity in 2024 is mapping to what was seen last year—which is to say, slow. …
• 12 August

  EasyPark’s Vancouver Parking Plans and other Digital Transactions News briefs from 8/12/24

  

  Sweden-based EasyPark Group, a provider of mobile apps for parking payments, is working with parking-technology firms ZipBy and Fennix to enable parking and gate-entry at parking lots throughout Vancouver, British Columbia. EasyPark expanded into North America in 2021 with its acquisition of Park Now Group, which included ParkMobile LLC. EasyPark acquired Park …
• 9 August

  Most Consumers Use a Tech-Based Mobile Wallet as Retailer Ones Lag

  

  Mobile wallets vie for consumer attention, but tech-based ones are most favored as 54% of credit cardholders use one of the big three—Apple Pay, Google Wallet, or Samsung Pay—finds new research from Auriemma Group. Tracked by the New York City-based advisory firm since 2016 in its Mobile Pay Tracker, mobile …
• 9 August

  Processing Fees, Not Interchange, Are the Cost Merchants Should Combat, Some Say

  

  Merchants’ disdain for interchange is well documented, but one aspect of card-acceptance costs that gets drowned out by the outcry over interchange is that rising processing fees are hitting merchants harder than interchange hikes, according to some observers. Processors’ rate hikes have been running between 0.25% and 1.5% in recent …
• 9 August

  Lightspeed Lines up US Foods Referral Channel and other Digital Transactions News briefs from 8/9/24

  

  Lightspeed Commerce Inc. announced it is working with US Foods Holding Corp., a large foodservice distributor, to sell Lightspeed’s payments technology for restaurants in the U.S. market. Embedded payments provider i3 Verticals Inc. reported $56 million in fiscal third-quarter revenue, down 2.3% from $57.3 million year-over-year. Its net loss increased to $8.3 million …
• 8 August

  How Shift4’s CEO Looks to Build Shift4 Into ‘the SpaceX of Payments’

  

  Having finished what its chief executive called “a very busy quarter,” the major processor Shift4 Payments Inc. early Thursday reviewed recent moves in acquisitions, stadium deals, and point-of-sale technology, both for its longstanding position in the U.S. hospitality market and overseas. Even more ambitious initiatives are looming, promised chief executive …