Digital Transactions Authoritative, insightful and timely information for payments professionals
It’s been an eventful summer so far for Fiserv Inc., which was hammered by the recession caused by the Covid-19 pandemic but in July began to regain its footing, according to top executives who spoke Wednesday afternoon. Revenue for the Brookfield, Wis.-based payments processor dipped 1% in June but began …
August, 2020
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5 August
Restaurant POS System Provider TouchBistro Acquires Loyalty Tech Developer TableUp
TouchBistro Inc., a software developer for iPad POS systems in restaurants, on Wednesday announced the acquisition of loyalty marketing application provider TableUp. Terms of the deal were not disclosed. The acquisition was driven by restaurant requests for ways to market and offer customer incentives to return as restaurants begin reopening …
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5 August
Square Cash Card Users Double and other Digital Transactions News briefs from 8/5/20
Square Inc. posted its second-quarter results and held an earnings call hours earlier than originally scheduled owing to what Square called “early external access to the company’s quarterly financials.” Net revenue climbed 64% year-over-year to $1.92 billion. Square posted a net loss of $11 million compared to a negative $7 million last …
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4 August
Green Dot Starts to Realize the Fruits of Its New CEO’s Insistence on Keeping Its Bank
Green Dot Corp. may be starting to show the fruits of new chief executive Dan Henry’s insistence on holding on tightly to the company’s bank and making it a linchpin of his strategy. The Provo, Utah-based institution, which Green Dot acquired in 2010, is key to three major card and …
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4 August
Consumers Would Switch Merchants for a Contactless Payment Option, Says a Visa Survey
Contactless payments apparently have sway with U.S. consumers. Fifty-four percent of them would switch to a new store that offers contactless payments, according to a global survey by Visa Inc. measuring changes in payments habits in the face of the Covid-19 pandemic. The effects of the pandemic, and the resulting …
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4 August
E-Commerce Helps Buoy FIS as Merchant Volumes Post Positive Growth Rates Again
FIS Inc. had only begun to digest the massive processor Worldpay, which it acquired in July last year, when the global Covid-19 virus broke out, leaving the company on Tuesday to report a challenging second quarter marked by a significant hit to its newly integrated merchant-processing business. Still, given the …
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3 August
Processor Paya Will Go Public Via a So-Called SPAC Merger
Payments provider Paya Inc. today announced a merger with special acquisition merger company (SPAC) FinTech Acquisition Corp III. The merger is being consummated as part of Atlanta-based Paya’s plans to take the company public. Currently, the company is owned by private-equity firm GTCR LLC. Because Fintech Acquisition is already a …
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1 August
Apple’s Mobeewave Deal Could Turn iPhones Into No-Dongle POS Devices—Just Not Right Away
Apple Inc. has reportedly acquired technology that enables smart phones equipped with near-field communication to act as point-of-sale devices with no other hardware. In the deal, news of which broke as the weekend began, the Cupertino, Calif.-based iPhone maker has bought Mobeewave Inc., a 9-year-old technology firm based in Montreal. …
July, 2020
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31 July
Amazon Sales up 40% and other Digital Transactions News briefs from 7/31/20
With consumers flocking to e-commerce during the Covid-19 pandemic, net product sales for Amazon.com Inc. totaled $50.2 billion the June quarter, up 40% year-over-year. Sales at its physical stores dropped 13% to $3.8 billion.China will surpass the United States as the world’s largest retail market this year, eMarketer Inc. predicted in its “Global …
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31 July
Shift4 Emerges From Its IPO With Less Debt and More Cash
Shift4 Payments Inc. is scheduled to have its first quarterly earnings call as a publicly held company on Thursday. Ahead of that call, company founder and chief executive Jared Isaacman is expressing satisfaction with the merchant acquirer’s June 4 initial public offering. The oversubscribed IPO was priced at $23 per share, …
