Point-of-sale

May, 2020

• 21 May

  Eye on Fraud: Fiserv Targets Debit Card False Declines; More Mobile Payments Mean More Fingerprint Sensors

  

  Debit card issuers have a new tool to spot potential false transaction declines with a new service from processor Fiserv Inc., and the authentication needs of mobile payments are driving, in part, the growth in fingerprint sensors. Brookfield, Wis.-based Fiserv says its new Authorization Lift service will help reduce the number …
• 21 May

  Shopify Launches Shop Pay Installments and other Digital Transactions News briefs from 5/21/20

  

  Working with an unnamed partner, commerce platform Shopify Inc. said it will launch Shop Pay Installments later this year. The option will let consumers at checkout split purchases into four equal installments at no interest.In related news, point-of-sale installment lender PayBright said Canadian fashion retailer Groupe Dynamite is offering PayBright’s service on the merchant’s …
• 19 May

  Mastercard Also Extends EMV Liability Shift for Fuel Pumps

  

  All four card brands have now delayed for the second time their EMV liability shifts for automated fuel dispensers with Mastercard Inc.’s Monday announcement it would postpone its shift until April 16. The original shift was to have taken place in October 2017, but was deferred until October 2020. Along …
• 19 May

  In a Twist on Contactless, PayPal Rolls Out a QR Code App for Small And Occasional Sellers

  

  In an effort to reach occasional and very small sellers struggling with restrictions imposed to deal with the novel coronavirus pandemic, PayPal Holdings Inc. on Tuesday launched a Quick Response code capability for its mobile app. The feature allows a buyer to scan a QR code displayed by a seller …
• 19 May

  WooCommerce Payments Debuts and other Digital Transactions News briefs from 5/19/20

  

  E-commerce facilitator WooCommerce launched WooCommerce Payments to provide checkout and payments-management capability for merchants on its platform. Transaction fees start at 2.9% plus 30 cents for U.S.-issued cards.ACI Worldwide Inc. announced Wundr Group Ltd., a retail payments platform specializing in cross-border transactions, will use ACI’s UP eCommerce Payments technology, which links to card-transaction …
• 18 May

  With a Planned IPO, Could Shift4 Be Looking at a Big Rebound Following the Ravages of Covid-19?

  

  The middle of a pandemic is an intriguing time to tap the public markets, to say the least, but observers say there could be some upside ultimately for Shift4 Payments LLC, which on Friday filed its expected registration statement for an initial public offering. The Allentown, Pa.-based payments-technology provider, which …
• 18 May

  Recovery in Card Usage Gathers Steam Among Credit-Union Members

  

  Even though credit card spending is still depressed as a result of the Covid-19 economic downturn, payment card volume trends have now been improving for a month or more, according to new data from credit-union service organization PSCU. St. Petersburg, Fla.-based PSCU reported Monday that overall credit card spending by …
• 15 May

  Retail Sales Slump 16% in April and other Digital Transactions News briefs from 5/15/20

  

  The U.S. Commerce Department’s Census Bureau issued advance estimates for April’s seasonally adjusted retail and food-services sales totaling $403.9 billion, down 16.4% from March and off 21.6% from April 2019.In one indication of the toll the slumping economy is taking on consumers, store card issuer and processor Alliance Data said its overall delinquency rate …
• 14 May

  Mastercard Says New Data Show Spending Headed Toward ‘Normalization Phase’

  

  New network data from Mastercard Inc. show U.S. switched volume is off 6% year-over-year for the week ending May 7 compared with a 26% decline in the week ending April 30. Mastercard on Thursday released two more weeks of network data, for the weeks ending May 7 and April 28, …
• 14 May

  In the Time of Covid-19, Risk And Underwriting Practices Must Adapt, Experts Say

  

  Payments providers and acquirers are having to quickly adjust to evolving risk practices as chargeback volume and return rates change during the nationwide Covid-19 containment. That’s important because the Federal Trade Commission, in particular, is using these two metrics as potential indicators of misdeeds, advised panelists Wednesday in the “Regulatory …