Point-of-sale

May, 2023

• 11 May

  Payment Card Shipments to Reach 471 Million And Other Digital Transactions News briefs from 5/11/23

  

  ABI Research forecasted the number of physical, instantly issued payment cards globally will grow to 471.1 million shipments in 2027 from 243.2 million in 2022. Citicorp’s Citi Retail Services unit introduced its Citi Pay line of services, with the first product consisting of Citi Pay Credit, a digital credit card. An installment-loan product will …
• 10 May

  Toast Launches Toast Tables; Tabit Partners With OpenTable

  

  The major restaurant point-of-sale technology provider Toast Inc. early Wednesday reported revenues of $819 million for the first quarter of 2023, a 53% increase over the same period a year earlier. Recurring revenue for the quarter totaled $987 million, a 55% increase from a year earlier. In addition, Toast grew …
• 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 …