Point-of-sale

June, 2023

• 15 June

  Luxury Retailer LVMH Adopts Tap to Pay on iPhone

  

  A handful of U.S. retail outlets owned by luxury-goods retailer LVMH Group will offer Tap to Pay on iPhone later this year, the Paris-based company announced Wednesday. Tap to Pay on iPhone enables merchants to accept contactless payments using a payment-acceptance app and an off-the-shelf iPhone. The service, announced in …
• 15 June

  Senators Query Venmo, Cash App About Scams And Other Digital Transactions News briefs from 6/15/23

  

  U.S. Senators Sherrod Brown (D-Ohio), Jack Reed (D-R.I.), Bob Menendez (D-N.J.), and Elizabeth Warren (D-Mass.) on Thursday sent letters to Block Inc.’s Cash App and to PayPal pointing to “reports of widespread fraud and scams” on Cash App and Venmo and requesting data on the volume of reports of fraud …
• 14 June

  Fiserv Turns Up the Heat in the Hotly Contested Restaurant POS Market

  

  Fiserv Inc.’s Clover unit has made its latest entry in the highly competitive restaurant market with the Clover kitchen display system. The new system consolidates in-restaurant and online orders, a move some see as a growing need for restaurants as consumers return to dining out, while continuing to place online …
• 14 June

  The CFPB Looks to Define ‘Larger Companies’ for Rulemaking in Payments

  

  The Consumer Financial Protection Bureau is looking at creating a rule to define so-called larger companies in the consumer-payments industry, according to a notice the regulator posted on Tuesday. The rule if established would clarify the CFPB’s supervisory authority with respect to nonbank payments companies, lending more impetus to a …
• 13 June

  The CFPB Sees Room for Industry Standard-Setting Bodies in Open Banking

  

  Although the Consumer Financial Protection Bureau plans to develop a federal regulation governing the protection of consumer financial data shared through open banking, the agency says that open banking will be best served if it does not “micromanage” open banking itself. In October, the CFPB announced its intention to develop regulation …
• 13 June

  Eye on Restaurants: New Gambits From SpotOn, Toast, And Oracle

  

  Few retail markets have rebounded from Covid lockdowns as fast as restaurants have. And few have attracted as much attention from payments companies. No wonder. Sales at what the National Restaurant Association calls “eating and drinking places” in the United States totaled $88.1 billion in April, up 0.6% from March. …
• 12 June

  With a New Card, Chase Looks to Woo New-To-Credit Customers

  

  Chase, the consumer and commercial banking division of JPMorgan Chase & Co. in the United States, has launched Chase Freedom Rise, a credit card aimed at consumers with no credit history. Cardholders earn 1.5% cash back on every purchase, pay no annual fee, and have no minimum threshold for redeeming …
• 12 June

  Eye on E-Commerce: Online Prices Fall to a New Low; Stripe Joins the MACH Alliance

  

  The leveling off of e-commerce activity continues as online prices, as measured by the Adobe Digital Price Index, fell 2.3% in May from a year ago. This is the ninth consecutive year-over-year decrease in online prices, Adobe Inc. says. Of the 18 categories tracked by Adobe, prices fell in 11 …
• 12 June

  Toast Signs Marriott Deal And Other Digital Transactions News briefs from 6/12/23

  

  Restaurant point-of-sale technology provider Toast Inc. has signed an agreement with Marriott International Inc. to make its Toast for Hotel Restaurants product available in the hotelier’s Select service hotels in the United States and Canada. A report from Mastercard Inc. indicates the proportion of cash-only customers in Latin America has dropped from 45% three …
• 9 June

  Six Flags’ Great Adventure Store Adopts Amazon’s Just Walk Out Technology

  

  Amazon.com Inc.’s Just Walk Out payment technology is providing checkout-free shopping at Quick Six, a concept store at Six Flags Great Adventure, a Jackson, N.J., theme park. Announced recently, the store uses the Amazon-developed technology that requires consumers to scan a code on their cellphones that is tied to a …