Point-of-sale

March, 2021

• 19 March

  Justice Department Investigating Visa Debit Acceptance and other Digital Transactions News briefs from 3/19/21

  

  The U.S. Justice Department is investigating Visa Inc.’s practices regarding online and in-store debit card acceptance, according to reporting by The Wall Street Journal. The probe is centered on whether Visa has restricted merchants’ ability to flow transactions over less-costly networks, according to sources who spoke to the newspaper.Fintech Enova International said it acquired Pangea …
• 18 March

  Post-Covid, Look for a Take-off in In-Store Volume, Led by Innovative Payment Technology

  

  With global economies expected to re-open as more consumers receive Covid-19 vaccinations, in-store retail spending will hit $22.8 trillion worldwide in 2022. That’s after in-store sales fell 7% in 2020 as many consumers shifted purchases online. The projection comes from London-based Kaleido Intelligence Ltd.  While the Covid-19 pandemic impacted in-store …
• 18 March

  Soaring Levels of Tap-and-Pay Transactions Will Stick in Post-Covid Times, CardFlight Predicts

  

  Contactless payments at small businesses served by point-of-sale technology provider CardFlight Inc. soared 296% in the past year, according to the payments provider’s latest Small Business Report. The report, initiated a year ago at the start of the Covid-19 pandemic, also found that overall sales at small businesses increased 56% …
• 18 March

  Splitit Signs More Merchants and other Digital Transactions News briefs from 3/18/21

  

  Buy now, pay later provider Splitit Payments Ltd. announced new merchants Giant Bicycles, Super73, Mate Bike, Michael’s Jewelry and others now offer the installment payment service. Spliltit also reiterated that its service can be used with credit cards.Boutique marketplace Jane has integrated Klarna for buy now, pay later transactions.Fintech Rapyd said it is waiving up to …
• 17 March

  Eye On BNPL: Afterpay, Flexiti, And Why Consumers Are Embracing Multiple Apps

  

  Buy now, pay later continues to be a hot option as retailers look for ways to entice shoppers to buy more and increase online conversions and in-store traffic.  Afterpay Ltd. announced Wednesday that its fifth bi-annual Afterpay Day promotion will include brick-and-mortar retailers for the first time. The event is scheduled …
• 17 March

  Priority 4Q Revenue up 8.1% and other Digital Transactions News briefs from 3/17/21

  

  Payments provider Priority Technology Holdings Inc. reported fourth-quarter revenue of $106.1 million, up 8.1% year-over-year. Excluding Priority’s RentPayment business, which the company sold in September, revenue grew 12.3% from $94.5 million.Payments provider Flywire Corp. launched Flywire eStore, a platform that supports e-commerce for Flywire clients and their customers. The move follows Flywire’s decision last …
• 16 March

  The Economy Got Suddenly Closer to Cashless Commerce in the Past Year, a Square Study Shows

  

  Three years’ worth of movement away from cash in the United States has taken place in just 12 months as a result of the Covid-19 pandemic, according to estimates in a report released Tuesday by Square Inc. “It’s not to say we’re ditching cash entirely any time soon, but the …
• 16 March

  Card Brands Delay Interchange Updates and other Digital Transactions News briefs from 3/16/21

  

  Responding to pressure from Sen. Dick Durbin, D-Ill., and other critics, Visa Inc. and Mastercard Inc. are delaying planned adjustments to their credit card interchange rates until April next year, Bloomberg News reported. The rate adjustments had been set for next month and involved an estimated net $889 million in increased fee income for …
• 15 March

  Debit Use And Contactless Payments Are up After a Year of Covid, PSCU Notes

  

  Debit is the most preferred payment option among consumers and contactless payments have doubled in the year since the declaration of the Covid-19 pandemic. That’s the assessment from the “Tracking Transaction Trends” report for the week ending March 7 from PSCU, a credit union service organization. Debit card spend for …
• 15 March

  ParkMobile Expands in Memphis and other Digital Transactions News briefs from 3/15/21

  

  Parking-app provider ParkMobile LLC announced an agreement with the city government in Memphis, Tenn., and with parking-lot manager Premium Parking to offer mobile payments for parking on several city blocks in commercial districts, expanding ParkMobile’s presence in the city. Earlier this month, European parking-technology firm EasyPark Group announced its plan to acquire …