Point-of-sale

March, 2021

• 1 March

  Klarna Raises $1 Billion and other Digital Transactions News briefs from 3/1/21

  

  Buy now, pay later specialist Klarna AB raised $1 billion in an oversubscribed equity funding round that pegged the company’s valuation at $31 billion. Major U.S. clients include Macys, Etsy, Sephora, Ralph Lauren, and Urban Outfitters.In related news, BNPL provider Splitit Payments Ltd. announced its merchant sales volume increased almost 180% in 2020 to …

February, 2021

• 26 February

  CardX Wins Its Kansas Surcharging Suit. Surcharging Bans Remain in Only Three States

  

  CardX LLC, a surcharging-services provider, can now add another state to the list of places where it can do business. A federal judge ruled Thursday surcharging cannot be prohibited in Kansas. The decision leaves just Colorado, Massachusetts, and Connecticut with outright no-surcharge rules on the books. Filed May 29, 2020, …
• 26 February

  Mastercard Switched Transactions Volume Dips 1% and other Digital Transactions News briefs from 2/26/21

  

  Switched transactions dipped 1% for the week ended Feb. 21 for Mastercard Inc. compared to the same week last year, the card network reported. It is the first weekly year-over-year dip in switched transactions for Mastercard so far this year and reflects a swing from 4% growth in the week ended Feb. …
• 25 February

  Clearent in Merger Deal and other Digital Transactions News briefs from 2/25/21

  

  Payments provider Clearent LLC and Transaction Services Group, a New Zealand-based software and integrated payments provider, will merge and form Xplor Technologies, TSG announced. Terms were not disclosed. Both companies are part of investor Advent International’s portfolio. The combined company will serve more than 82,000 businesses that processed more than $27 billion …
• 24 February

  An Unenviable Ranking: Payments in Financial Services Draw the Highest Rate of Fraud Attacks

  

  Payment transactions within the financial-services sector had the dubious distinction of having the highest rate of fraud attacks in the second half of 2020, according to latest Cybercrime Report from LexisNexis Risk Solutions. Alpharetta, Ga.-based LexisNexis Risk Solutions says payment transactions in financial services had an attack rate of 3.6% …
• 24 February

  Why NMI Has Scooped up Long-Time Gateway Provider USAePay

  

  Payment platform provider NMI’s acquisition of gateway provider USAePay for an undisclosed sum is based on the rationale that it better positions NMI to meet merchants’ need for connected, multichannel payment technology, which has become especially valuable in the face of the pandemic. It also bolsters NMI’s economies of scale. …
• 24 February

  Mobile Wallets Find In-Store Favor and other Digital Transactions News briefs from 2/24/21

  

  In 2020, mobile-wallet usage exceeded that of cash for in-store payments for the first time, according to the annual Global Payments Report by Worldpay from FIS. The report, which canvassed 46,000 consumers worldwide, found cash usage fell 10 percentage points to account for 20% of all face-to-face transactions.Inspriration4, the civilian-crewed space mission …
• 23 February

  As Users Flock to Cash App, the Product Delivers Nearly Half of Square’s Profit

  

  Square Inc. started out in 2009 as a slick new way for micro merchants and small sellers to get sophisticated point-of-sale gear along with payment processing. On Tuesday, the company showed it’s still getting more than half its gross profit from its merchant business, but its Cash App trade is …
• 23 February

  With a Federal Lawsuit, Intuit Challenges the Card Networks’ Interchange Regime

  

  Lawsuits brought by merchants against Visa Inc. and Mastercard Inc. have become almost routine for the two network giants, but now they face an unusual action—a suit from Intuit Inc., which is not only a card-accepting merchant but also an independent sales organization and payment facilitator. Filed Feb. 19 in …
• 23 February

  NMI Acquires USAePay and other Digital Transactions News briefs from 2/23/21

  

  Gateway provider NMI said it acquired USAePay in a deal that will strengthen NMI’s coverage in verticals, including retail and restaurant, where USAePay has had success. The deal, terms of which were not disclosed, also will help create a stronger omnichannel capability for NMI. The combined company had more than $100 billion in annual …