News

October, 2020

• 6 October

  A Survey Quantifies How Consumers Are Displacing Cash in Favor of Cards

  

  Consumers are replacing cash with payment cards during the Covid-19 pandemic, according to the “Purchasing in a Pandemic” report issued by Visa Inc. and consultancy The Strawhecker Group. Among the findings is that 26% of respondents expect to use less cash following the pandemic when compared to before. That, coupled …
• 6 October

  Eye on POS Credit: Klarna Nabs Macy’s, And Afterpay Clinches a Deal With Simon Property

  

  Economic uncertainty stemming from the Covid-19 pandemic has stoked consumer interest in point-of-sale credit, and providers of the service are acting to satisfy that urge. The latest moves came Tuesday from payments processor Klarna AB and installment-credit provider Afterpay Ltd. Klarna said it will provide its installment-payment feature to Macy’s …
• 6 October

  49ers’ Home Levi’s Stadium Going Cashless and other Digital Transactions News briefs from 10/6/20

  

  Levi’s Stadium, home of the San Francisco 49ers National Football League team, will transition to cashless when fans are able to return to the venue, the team announced. Card and mobile payments will be used for concessions, merchandise, and other purchases. The stadium is the first fully contactless-enabled NFL venue, the team …
• 5 October

  NCR Releases a New ATM Software Platform Aimed at Consistency With Digital Banking

  

  NCR Corp. on Monday announced the release of its next-generation ATM software platform. The new platform, called NCR Activate Enterprise NextGen, is intended to remake the ATM user experience to reflect similar applications in other digital-banking channels, according to the company. The idea, NCR adds, is to create a more …
• 5 October

  PayPal Adds QR Codes to a Visa-Branded Venmo Card Issued by Synchrony With an NFC Chip

  

  PayPal Holdings Inc. on Monday launched a Visa-branded credit card for its Venmo peer-to-peer payment service that features a QR code for P2P transfers in addition to a near-field communication chip for merchant acceptance. The new product arrives as PayPal searches for ways to boost revenue for its wildly popular …
• 5 October

  Debit Use Rises at Restaurants and other Digital Transactions News briefs from 10/5/20

  

  For the week ending Sept. 27, debit card use was up 4.2% at restaurants, not including fast food, and credit card use was down 16.9% compared to the week ending Sept. 29, 2019, according to the Tracking Transaction Trends report from PSCU, a credit union service organization. Debit card use was …
• 2 October

  Nacha Amends ACH Rules in the Face of New ‘Channels’ And ‘Technologies’ for Payments

  Nacha has approved eight amendments to its operating rules governing the use of ACH payments. The amendments were approved as part of Nacha’s strategy to modernize the ACH network through infrastructure improvements and to make ACH payments easier to initiate for consumers, businesses, and other organizations. The new rules are …
• 2 October

  Installment Payments Provider Sezzle Lines up Untuckit and other Digital Transactions News briefs from 10/2/20

  

  Point-of-sale credit provider Sezzle said apparel retailer Untuckit chose Sezzle as its preferred buy-now-pay-later option.Private-label card transaction processor Alliance Data Systems Corp. launched its Enhanced Digital Suite, a set of features aimed at increasing customer awareness of payment and credit options earlier in the shopping cycle.Perk Labs Inc. said its Perk Hero mobile app can …
• 2 October

  COMMENTARY: Open Banking Will Aid in the Economic Recovery—if We Let It

  

  There is no doubt that the pandemic has pushed the United States into a major economic decline. Many Americans are still out of work and interest rates have taken a nosedive. While some government stimulus plans have kicked in, that alone won’t be enough to make a full recovery.  We …
• 1 October

  Shift to Digital Payments Exposes Security Vulnerabilities, Fraud

  

  By Brett Petersen, EVP of Sales, GIACT One of the impacts of the Covid-19 outbreak has been an accelerated movement toward digital forms of payment. And, coupled with this movement, massive opportunities for fraud have also accelerated. At the outset of the pandemic, as physical storefronts began to temporarily close, …