Point-of-sale

September, 2019

• 25 September

  Square Drops Longstanding 2.75% POS Pricing for a Percentage-Plus-Fee Plan

  

  Merchant processor Square Inc. on Nov. 1 will drop its longstanding 2.75% point-of-sale rate for a new pricing plan of 2.6% plus 10 cents. Based on recent U.S. purchase dollar- and transaction-volume statistics from the bank card networks, Digital Transactions News calculates the new pricing plan will generate about 1% …
• 24 September

  Sales Focus May Be ISOs’ Best Asset As They Court ISVs And VARs

  

  Merchant-services companies may already have the best tool for courting independent software vendors and software developers. It’s the sales model. That’s the word from a panel at last week’s Western States Acquirers Association conference in Rancho Mirage, Calif. Many payment providers are looking to integrated payments, often an integral part …
• 24 September

  P97’s C-Store Payments Deal and other Digital Transactions News briefs from 9/24/19

  

  P97 Networks, a mobile-payments and content provider for gas pumps, partnered with WannLynx, which supports in-store and at-the-pump video and other content for fueling stations, to enable payments as well as discounts, coupons, and other loyalty programs for convenience stores and gas stations.Brex, a startup that creates corporate card programs …
• 23 September

  A Panel Clears up Some Issues on Payments for CBD Merchants

  

  The clamor to sign up merchants that want to sell hemp-derived cannabidiol products is undiminished despite multiple questions about what a legal CBD product is and how to onboard these merchants. “The banks are having a tough time now because it’s so new,” said Travis Chrisman, president and cofounder of …
• 23 September

  As POS Credit Gets More Crowded, Splitit Adapts the Concept for B2B Payments

  

  Familiar now as a point-of-sale payment option, transactional credit is moving into the much larger—and more complicated—world of business-to-business payments. Splitit Payments Ltd. announced on Monday it has launched a service that allows merchants and other small businesses to pay suppliers with regular, interest-free installments on an existing business credit …
• 20 September

  UnionPay International’s Merchant Growth and other Digital Transactions News briefs from 9/20/19

  

  The China-based payments network UnionPay International said it now links to more than 28 million merchants outside China, with 2 million having been added in the first half of 2019. The company also said 80% of U.S. merchants now accept UnionPay credit cards.Visa Inc. said its B2B Connect network now processes cross-border corporate …
• 19 September

  Reliable, Recurring Revenue Fuels Investor Interest in Payments

  

  With the closing of three megamergers this year, one might think investment opportunities in payments and acquiring could shrink. But that would be an error. That was the assessment of investment professionals speaking Thursday at the Western States Acquirers Association annual conference in Rancho Mirage, Calif.  “It’s a massive industry. …
• 19 September

  The PCI Council Plans More Rule Flexibility As It Eyes a Major Revision of Its Flagship Standard

  

  Recognizing there is no one-one-size-fits-all approach to data security, the PCI Security Standards Council continues to evolve its requirements toward a goal of greater flexibility for payments providers. The new approach comes as the Council contemplates a new version of its core security standard. Gathering in Vancouver, B.C., this week …
• 18 September

  Global Payments Completes TSYS Merger and other Digital Transactions News briefs from 9/18/19

  

  Global Payments Inc. completed its $21.5 billion all-stock merger with payment processor Total System Services Inc. (TSYS). The deal cleared its last major hurdle when European Union antitrust regulators said they had no competition concerns, Reuters reported Tuesday. The merged company serves 3.5 million merchant locations and 1,300 financial institutions in more than 100 …
• 17 September

  Without a Digital Business Model, Banks May Lose $280 Billion in Payments Revenue

  

  Digital payments, combined with competition from nonbanks in payments, may cost banks as much as 15% of their global payments revenue, or $280 billion, says Accenture in its “2019 Global Payments Survey.” Released Monday, the survey of 240 retail and corporate payments executives across multiple countries suggests that global-payments revenue …