Point-of-sale

May, 2023

• 10 May

  Real-Time Payments Fraud on the Rise And Other Digital Transactions News briefs from 5/10/23

  

  Real-time payment fraud is on the rise, even before the expected July launch of the Federal Reserve’s FedNow service. Some 71% of financial institutions reported an increase in consumer account takeover fraud using real-time payment networks from 2021 to 2022, according to a February and March survey of financial-institution executives internationally …
• 9 May

  PayPal Makes Unbranded Checkout a ‘Strategic Imperative’ As Its CEO Prepares to Retire

  

  PayPal has been known for some time as a major alternative for checkout online, but now the company is making it plain it’s putting considerable resources behind checkouts where its services function entirely in the background. So-called unbranded checkout, led by the company’s Braintree processing platform along with a relatively …
• 9 May

  Payrange Acquires Vagabond And Other Digital Transactions News briefs from 5/9/23

  

  Payrange Inc., a payments provider for the vending and unattended-retail market, announced it has acquired Vagabond, a cloud-based provider of business intelligence for the convenience-retail industry. Terms were not announced. Sales of contactless cards helped payment card manufacturer CPI Card Group Inc. increase overall first-quarter sales 8% year-over-year to $120.9 million, with sales …
• 8 May

  Cantaloupe Launches Smart Technology for Grab And Go at Self-Service Environments

  

  Cantaloupe Inc. is rolling out Cantaloupe Go, a line of self-service apps and kiosks that rely on artificial intelligence to enable consumers to purchase products in self-service retail locations, such as micro-markets. Cantaloupe Go comprises Cantaloupe’s line of self-checkout kiosks. which vary in cost, features, and payment-acceptance capabilities; Smart Store …
• 8 May

  Merchants’ Cost Burden for Card Acceptance Has Long Been Flat, a Card Industry Group Argues

  

  Merchants’ price for accepting credit cards has remained steady for years, according to data released Monday by the Electronic Payments Coalition, an advocacy group representing the payment card industry. The EPC’s release comes as widespread and longstanding merchant complaints about the cost of card acceptance have sparked efforts by federal …
• 5 May

  Presto Rolls Out Voice Ordering; SoundHound Integrates Voice Ordering With Oracle’s POS

  

  Presto Automation Inc., a provider of artificial intelligence-based solutions for drive-through restaurants, is rolling out its voice-ordering system at participating Carl’s Jr. and Hardee’s drive-throughs nationwide. San Carlos, Calif.-based Presto had been piloting the technology at select Carl’s Jr. and Hardees locations. Carl’s Jr. and Hardees, which together have about …
• 5 May

  GoDaddy Payment Volume Tops $1 Billion and other Digital Transactions News briefs from 5/5/23

  

  GoDaddy Inc. reported payments volume from its various commerce services surpassed $1 billion annualized in the first quarter. The Web registrar has launched a number of payments initiatives in the past year, most recently a service that supports transactions through Microsoft Teams. Thinkific Labs Inc., a platform that supports creating, marketing, and …
• 4 May

  Block Nears $5 Billion in Revenue

  

  Buoyed by Cash App, services, and a move up market Block Inc., parent of Square and Afterpay, generated nearly $5 billion in first-quarter revenue, a 25% increase from $4 billion in the same quarter a year ago. Its transaction-based revenue of $1.42 billion was a 15% increase from $1.29 billion …
• 4 May

  Shift4 Busies Itself with Domestic Expansion As It Waits for Clearance on Its Finaro Deal

  

  Shift4 Payments Inc. is still waiting on approval from European regulators to complete its $525-million Finaro acquisition, but in the mean time the Allentown, Pa.-based processor has been busy expanding in its home market. That expansion includes yet other acquisitions aimed at consolidating Shift4’s grip on the restaurant point-of-sale market, …
• 4 May

  Deluxe’s Payments Revenue up And Other Digital Transactions News briefs from 5/4/23

  

  Payments provider Deluxe Corp. reported its first-quarter revenue dipped nearly 2% year-over-year to $545.4 million. Net income swooned from $9.7 million to $2.8 million owing to higher interest expense and a higher income-tax rate, according to the company. Revenue in its payments division, its second-largest unit after checks, rose 3.5% to $172 …