Digital Transactions Authoritative, insightful and timely information for payments professionals
Investors appear eager to buy stocks of payment-processing companies as evidenced Thursday by Shift4 Payments Inc. pricing its initial public offering at $23 per share, nearly 10% above the high end of the $19 to $21 range it had expected just days earlier. Shift4’s shares opened late Friday morning on …
June, 2020
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5 June
Touch-Free Commerce Takes Root As Contactless Payments Surge 150% Among Cardknox Merchants
More evidence that consumers are finally adopting contactless payments emerged as Cardknox, a payment gateway, noted a 150% increase in contactless payment use from just from November to April. Announced Thursday, the increase, albeit lacking volume details, indicates consumers’ mindfulness about reducing physical contact with point-of-sale terminals. Cardknox said some of …
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4 June
Huntington Adds TCH’s Real Time Payments Service and other Digital Transactions News briefs from 6/4/20
Huntington Bancshares Inc. has made the Real Time Payments service from The Clearing House Payments Co. available to its consumer and business customers. Huntington has 839 branches and 1,434 ATMs in seven Midwestern states.Processor Fiserv Inc. introduced its FlexLine Advance service that enables holders of credit cards issued by Fiserv client banks and credit unions to …
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4 June
Eye on Parking: A Venue Manager Preps for a Contactless Reopening; ParkMobile Lands Three Cities
Expectations that consumers will seek out live entertainment with some mindfulness about actually touching point-of-sale terminals is part of the reason for venue manager Spectra to strike a multiyear deal with parking specialist ParkHub Inc. Announced Wednesday, the deal will see ParkHub provide mobile point-of-sale technology that enables contactless payments. It …
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2 June
Visa Reports Improving Volume Trends in May
U.S. payment volume growth was still in negative territory in May thanks to the Covid-19 pandemic, but the picture was brighter than it was in April, Visa Inc. reported late Monday. “In May, total U.S. payments volume declined 5% year-over-year, a 13 percentage point (ppt) improvement over April,” Visa said …
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2 June
Konnect’s M-Payments Restaurant Service Debuts and other Digital Transactions News briefs from 6/2/20
Konnect Solutions Inc. introduced a mobile-payments service for restaurants that allows customers to pay inside or in drive-throughs by choosing the restaurant’s local WiFi wireless access point to view a menu, place an order, and access the restaurant’s point-of-sale system. They can pay on their phone or use options offered by …
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1 June
Shift4 Looks to Raise Up to $315 Million Through Its IPO
Shift4 Payments Inc.’s pending initial public offering took a step forward Monday when the merchant processor filed an amended prospectus stating it plans to sell 15 million shares of common stock at a range of $19 to $21 per share. At the maximum price, the sale would yield $315 million …
May, 2020
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29 May
Vesta Notes $125 Million Investment and other Digital Transactions News briefs from 5/29/20
Vesta, a vendor of fraud-fighting technology, said it has received a $125 million growth-capital investment from Goldfinch Partners.Fiserv Inc. said True Sky Credit Union will move to its platform for core account processing, including access to the Zelle peer-to-peer payments network.Mastercard Inc. launched Recovery Insights, a set of data and tools aimed at …
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28 May
The U.S. EMV Chip Card Count Surpasses 1 Billion
Four years after the EMV chip card standard became the law of the U.S. payments land, the number of credit and debit cards with an EMV chip now exceeds 1 billion, and 63% of U.S. card-present transactions in 2019 involved an EMV card being read by an EMV-capable terminal, up …
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28 May
A New Study Shows How Acquirers Can Help Merchants Recover From Covid-19’s Heavy Toll
Fully 25% of U.S. merchants that accept payment cards experienced a drop of 56% or more in card volume in April compared with February, finds a new study from The Strawhecker Group. After analyzing billions of transactions from more than 1 million card-accepting merchants across the United States, the Omaha, …
