News

August, 2023

• 29 August

  To Grow Sales, Merchants Are Diversifying Into New Lines of Business, Square Finds

  As consumers seek greater value from what they purchase, merchants are responding by diversifying their products and services to know their consumers better and grow sales, research from Square, Block Inc.’s merchant-processing unit, says.   One way merchants are engaging consumers on a deeper level is through subscription services, which …
• 29 August

  Grubhub Deploys Amazon’s Just Walk Out Tech on Campus

  

  Students at Loyola University Maryland are the first to use Amazon.com Inc.’s Just Walk Out technology in a Grubhub partnership. The tech enables students, faculty, and staff to shop and walk out with their purchases billed within the app. Funding sources can be a meal plan, account balance, or credit …
• 29 August

  Snack POS Adds PAX Devices And Other Digital Transactions News briefs from 8/29/23

  

  Restaurant point-of-sale provider Snack POS has agreed to offer EMV terminals from Pax. Soundhound AI Inc., a specialist in artificial intelligence, said it will work with online-ordering platform ChowNow to help restaurants answer and respond to customer calls. Payments provider Nayax Ltd. is working with loyalty-technology platform Giift to enable consumers to convert loyalty …
• 28 August

  Shift4 Grows Its Sports Portfolio By Signing the NHL’s St. Louis Blues

  

  Shift4 Payments Inc. has expanded its stadium-pay domain by signing a deal with the National Hockey League’s St. Louis Blues to provide payment processing at the Enterprise Center, the team’s arena, and the adjacent Stifel Theater. Shift4 will also provide software for the Blues’ loyalty program, mobile wallet, and ordering …
• 28 August

  Eye on Wallets: BMO’s Virtual Card Move; Startup Tezro Deploys a Wallet

  

  Digital wallets continue to find a foothold in payments. The latest entry is BMO Commercial Bank’s debut of Extend, a virtual card service for its app. And startup Tezro launched a digital wallet aimed at integrating banking, payments, and shopping through messaging apps consumers already use. BMO Commercial Bank, a …
• 28 August

  VSoft’s Real-Time Pidgin Integration And Other Digital Transactions News briefs from 8/28/23

  

  VSoft Corp., a specialist in financial-services technology, said its core-processing and digital-banking platforms are processing real-time transactions through an integration with instant-payments provider Pidgin. Payments providers ACI Payments and Link2Gov Corp. have been awarded Internal Revenue Service contracts worth $2.07 billion to support credit and debit card payments for taxes and user …
• 25 August

  New SEC Rule Ups the Ante on Data Breach Disclosures

  

  With the Securities and Exchange Commission mandating public companies victimized by a cyberbreach publicly disclose the breach, businesses need to be more diligent in keeping out cybercriminals, as disclosure of such information can subject them to greater scrutiny and potential liability. The rule, which the SEC passed in July, requires …
• 25 August

  SoftPOS Offers Many Advantages, But a Few Drawbacks, Too

  

  The recently developed ability to accept card payments on an ordinary smart phone, with no additional hardware, has electrified the payments industry. But the technology, known as SoftPOS, comes with complications that could slow progress, a panel of experts warned Thursday. SoftPOS, which as the name implies relies on specialized …
• 25 August

  Affirm’s Revenue up, Though Loss Broadens And Other Digital Transactions News briefs from 8/25/23

  

  Buy now, pay later provider Affirm Inc. posted fiscal fourth quarter revenue of $445.8 million, up 22.4% from $364.1 million in the quarter ended June 30, 2022. Its quarterly loss of $206 million broadened from $186.4 million a year ago. For the full year, Affirm had $1.588 billion in revenue, up 17.7% …
• 24 August

  Fiserv’s Open Banking Move with Akoya Eases Secure Credential Sharing

  

  Fiserv Inc. is working with data aggregator Akoya LLC to enable consumers to share their financial data with fintech and third-parties with which they do business in a way that doesn’t expose a consumer’s full banking credentials. The partnership will provide Fiserv with access to consumer data from Akoya’s network …