News

August, 2023

• 31 August

  Debit Is Consumers’ Preferred POS Payment Method, Well Ahead of Credit Cards

  

  Debit cards are the most widely used form of payment, while credit cards rank a distant third, a new study from J.D. Power says. Some 78% of consumers use debit cards at the point of sale, followed by cash (74%) and credit cards (66%), according to the survey. Other forms …
• 31 August

  Eye on POS: Elavon Builds Out POS Terminal Suite; Payroc And Ingenico Target Unattended Payments

  Small businesses and unattended-payments merchants are getting some attention from point-of-sale terminal sellers with updates from Elavon and Ingenico. First, Elavon, the acquiring arm of U.S. Bank, launched the talech Terminal, a mobile POS device that complements its talech Register, which debuted in 2022. Talech is a software developer acquired …
• 31 August

  Investors React to Expected Interchange Updates And Other Digital Transactions News briefs from 8/31/23

  

  The shares of Visa Inc. and Mastercard Inc. reached all-time highs Wednesday following a report from The Wall Street Journal that the two major card networks plan to raise interchange and network fees in October and April. Visa closed at $246.23 per share, and Mastercard at $413.91. The networks have historically introduced new pricing …
• 30 August

  Consumers Are Paying Record High Out-of-Network ATM Withdrawal Fees

  

  ATM owners are charging consumers a record high $3.15 per transaction for making out-of-network withdrawals, up slightly from $3.14 a year ago, according to Bankrate.com. The new high is also the 22nd time in the last 25 years that out-of-network fees levied by ATM owners have hit a new high. …
• 30 August

  Eye on P2P Payments: Hallmark Adds Venmo Gifting; Zelle Second Quarter Volume up 10%  

  

  Sending cash with birthday cards in the mail is risky, but now Hallmark Cards Inc.’s service with Venmo makes it easier and presumably safer. The new Hallmark + Venmo line of cards includes a QR code inside the card that recipients scan to receive the funds to their Venmo accounts. …
• 30 August

  70% Prefer In-Person Shopping And Other Digital Transactions News briefs from 8/30/23

  

  Sixty-three percent of consumers in a survey of U.S., U.K., and German shoppers say they prefer to shop in person rather than online, with 70% of U.S. shoppers saying so. The results, released by payments platform Digital River, stemmed from a canvass of 3,000 consumers across the three countries. Garmin launched its …
• 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 …