Point-of-sale

July, 2020

• 17 July

  COMMENTARY: Covid-19 Changed Demand for Cashless Payments. Are Small Businesses Ready?

  

  The month of June gave Google Pay an extended moment. Early in the month, the tech press started circulating rumors that Google planned to add merchant buttons inside the app. This feature would allow both digital and brick-and-mortar businesses to accept customer payments within Google Pay.  But users in India …
• 14 July

  Big Banks See Credit Card Purchases Plunge by More Than 20% in the Second Quarter

  

  Three of the nation’s largest banks reported Tuesday that their credit card purchase volumes fell by more than 20% in the second quarter as the Covid-19 pandemic slammed the brakes on the economy, though things were better on the debit card side. New York City-based JPMorgan Chase & Co., the …
• 14 July

  COMMENTARY: How 3-D Secure 2.0 Will Change the Payments Industry

  

  With the massive increase in e-commerce this year, and new merchants moving to an online model out of necessity, combating card-not-present fraud is incredibly important. EMV 3-D Secure 1.0 (or 3DS1) has been continually upgraded as technology and consumer habits changed; however, from its first iteration it has always had …
• 14 July

  Visa’s Installment-Payment Test and other Digital Transactions News briefs from 7/14/20

  

  Visa Inc. announced it is working on U.S. pilots for a new installment-payment service. TSYS, part of Global Payments Inc., will be the first issuer technology partner, with Commerce Bank as the first U.S. bank partner. 42nd Street Photos, Tire Agent, and The Room Place are among the first merchants to offer …
• 13 July

  As Contactless Gains, Will QR Codes Win Over NFC Adherents?

  

  With consumer and merchant preferences shifting towards contactless payment methods in the wake of the Covid-19 pandemic, payments activated by Quick Response codes are gaining more attention. That’s because they are a low-cost way for merchants without NFC (near-field communication)-based applications, such as Apple Pay and Google Pay, to add …
• 13 July

  Eye on the Point of Sale: Behind the Coin Shortage; The Decline in ATM Cash Withdrawals Slows

  

  Consumers have been spending considerably less in most stores over the past four months, but that hasn’t prevented a shortage of coins from developing. But in one sign of a nascent revival of cash usage, the number ATM cash withdrawals by credit union members has finally broken a 15-week streak …
• 10 July

  Contactless Transactions at Small Businesses Have More Than Doubled Since March

  

  New data from a point-of-sale services provider show just how much of a boost the Covid-19 pandemic has given to contactless payments. New York City-based CardFlight Inc., a technology company serving more than 60,000 small businesses through its SwipeSimple service, says in its latest weekly report on payment trends since …
• 9 July

  Wirecard’s U.S. Unit Draws Interest and other Digital Transactions News briefs from 7/9/20

  

  The U.S. subsidiary of failed German payment processor Wirecard AG is drawing strong interest from potential buyers, according to media reports. The Wall Street Journal also reported that the U.S. Justice Department is investigating whether Wirecard AG played a critical role in an alleged $100 million bank-fraud conspiracy connected to an online marijuana marketplace.Splitit Payments Ltd., which enables …
• 7 July

  Merchants Are Rebooting, So ISOs Look to Apps And Loyalty to Bring Customers Back

  

  As businesses start to reopen, independent sales organizations and other payment providers are rolling out programs suited to the new reality faced by both proprietors and their customers. The latest example comes from VizyPay, which on Tuesday announced a service it says will help merchants attract old customers and pull …
• 7 July

  A Processor’s Employees Get Catch-Up Pay and other Digital Transactions News briefs from 7/7/20

  

  Employees of independent sales organization Gravity Payments Inc. who collectively volunteered to take pay cuts during the coronavirus pandemic to avoid layoffs are now being repaid what they sacrificed; the average employee is getting $4,300 in back pay, Yahoo Money reported.Payment processor Computer Services Inc. reported record quarterly revenue of $70.6 million for its …