Point-of-sale

December, 2020

• 2 December

  With an Assist From Visa, MagicCube Looks for Rapid Expansion in the U.S. And Abroad

  

  The Covid-19 pandemic is driving consumers and merchants to opt for contactless options, and now software that can enable an ordinary smart phone to accept cards via near-field communication is moving faster toward the point of sale. Visa Inc. on Wednesday granted a so-called security compliance allowance to MagicCube Inc.’s …
• 2 December

  Lightspeed Looks to Become a Major Player in Hospitality With Acquisition of Upserve

  

  Canadian processor Lightspeed POS Inc. expects its acquisition of Upserve Inc., a Providence, R.I.-based provider of cloud-based restaurant-management software, to make it more competitive in the restaurant point-of-sale business in the United States.  The acquisition of Upserve for a combination of cash and stock totaling $430 million comes hot on …
• 2 December

  Sysnet Acquires ControlScan Unit and other Digital Transactions News briefs from 12/2/20

  

  Sysnet Global Solutions said it acquired the Managed Complication Solutions division of ControlScan Inc. With the acquisition, Sysnet said almost 4 million small and mid-size businesses and payment processing companies use its services. Terms were not disclosed.Fido Merchant Services, a United Kingdom-based payment gateway and merchant services provider, is embarking on …
• 1 December

  Eye on Acquirers: Nuvei To Acquire Base Commerce Assets And Fattmerchant Gains Major Investor

  

  Nuvei Corp. is making a move to bolster its integrated payments offerings with the acquisition of substantially all the assets of Phoenix-based Base Commerce LLC. Announced Tuesday, the pending deal—it’s expected to close by Dec. 31—will expand Nuvei’s product capabilities with a proprietary automated clearing house platform and additional merchants, Montreal-based …
• 1 December

  Libra Changes its Name to Diem and other Digital Transactions News briefs from 12/1/20

  

  The Libra Association, the organization behind the Libra cryptocurrency project, said it is renaming itself Diem, Latin for “day.” Acknowledging pressure from governments and regulators worldwide, the association this spring changed course on several key strategies, setting out new plans for single-currency stablecoins and a stronger compliance regime.Commerce platform Shopify Inc. said its merchants had …

November, 2020

• 30 November

  Shopify’s Black Friday Volume up 75% and other Digital Transactions News briefs from 11/30/20

  

  Commerce platform Shopify Inc. reported $2.4 billion in global Black Friday sales, a 75% increase from 2019. Black Friday is the Friday following Thanksgiving. Mobile sales accounted for 68% of U.S. transactions and desktop, 32%. Top U.S. cities were New York, Los Angeles, and Vernon, Calif. The average ticket of $93.80 was …
• 25 November

  How Fiserv Is Working With Google Pay And ExxonMobil To Go ‘Beyond the Buy Button’

  

  With digital and physical commerce melding, Fiserv Inc. intends to position its Carat platform as the engine to enable providers such as Alphabet Inc.’s Google unit and merchants to process transactions across both channels. Fiserv took a big step in that direction last week when it announced it will enable …
• 25 November

  COMMENTARY: The DoJ Is Right in Suing To Stop Visa’s Deal For Plaid. Here’s Why (Part I)

  

  Finally! No doubt, merchants throughout the country are applauding the Justice Department’s suit against Visa to stop its planned acquisition of Plaid, a potential competitor. For far too long, we’ve witnessed the growth of Visa’s dominance of the debit card business, which has come at a huge cost to America’s …
• 25 November

  81% Have Used a One-Click Payment Method and other Digital Transactions News briefs from 11/25/20

  

  Some 81% of U.S. consumers have used a one-click payment method while shopping online, with 37% using the method “frequently,” according to a survey earlier this month of 961 consumers by The Strawhecker Group and the Electronic Transactions Association.Switched dollar volume and switched transaction volume for Mastercard Inc. in the week ending Nov. 21 were both …
• 24 November

  By 2030, Cards May Linger, But Digital And Contactless Payments Will Dominate: Report

  

  The future of digital payments is being created now with the adoption of contactless payments, new digital transactions such as buy online, pick up in store, and reduced friction within the payments ecosystem. That’s the assessment in the “Future-Proof Payments: From the EMV Chip to a Fully Digital Future” report …