Point-of-sale

January, 2020

• 29 January

  Visa Will Be the Network for the New Venmo Card As PayPal Gets Set for Growth in China

  

  News emerged Wednesday from PayPal Holdings Inc.’s earnings call that Visa Inc. will serve as the network for a Venmo credit card PayPal announced in October. This development follows by one week PayPal’s announcement that it has struck a deal with UnionPay, China’s payment card giant, to integrate UnionPay cards …
• 29 January

  Mastercard Reports Strong Volume Growth, but Is Keeping an Eye on the Coronavirus

  

  Mastercard Inc. on Wednesday reported double-digit growth in fourth-quarter purchase volume and transactions, but reduced economic activity from the Coronavirus that originated in China could put a crimp on growth early this year. “We’ll take this as it comes, one step at a time,” Mastercard chief executive Ajay Banga said …
• 29 January

  eBay To Expand Payments Program and other Digital Transactions News briefs from 1/29/20

  

  EBay Inc. plans to expand its managed-payments program dramatically starting in the second half of next year, officials said Tuesday. Introduced last year, the program depends on a gateway from Adyen NV and now operates in the United States and Germany. “We will go hard at not only the markets that we’re in …
• 28 January

  Merchants’ POS Systems Ambitions Include Omnichannel and Enhancements: Survey

  

  As merchants consider updates to their point-of-sale systems this year, many—59%—want to add omnichannel capabilities, finds the 2020 POS/Customer Engagement Survey from Retail Consulting Partners. Conducted in late 2019, the survey collected responses more than 50 North American retailers with annual revenue ranging from $100 million to more than $10 …
• 24 January

  Eye on Earnings: Wall Street Rewards AmEx But Punishes Discover After Seeing Fourth-Quarter Results

  

  Two bellwether payments stocks headed in opposite directions Friday morning as they reported financial results for the fourth quarter. Discover Financial Services saw its share price swoon 7.41% in pre-market trading. By mid-morning, it stood at $77.94, down 9% from its Thursday close. AmEx shares on the other hand had …
• 24 January

  New York City Bans Cashless-Only Payments at Restaurants and Retailers

  

  New York City became the third U.S. city to ban cashless-only payments in restaurants and stores with the passage Thursday of a measure to prohibit merchants from refusing to accept cash. San Francisco and Philadelphia have similar bans, as does the state of New Jersey.  Originally proposed by New York …
• 24 January

  WEX Makes Two Acquisitions and other Digital Transactions News brief from 1/24/20

  

  WEX Inc., a processor in the fleet-fueling and corporate transaction market, said it has agreed to acquire eNett, a business-to-business payments software company specializing in the travel market, and Optal, a specialist provider of B2B transactions, for approximately $1.275 billion in cash and approximately 2 million shares of WEX common …
• 23 January

  PayPal Strikes Acceptance Deal With UnionPay

  

  In another move solidifying its emboldened links with Chinese payments providers, PayPal Holdings Inc. announced Wednesday it will support UnionPay International in its digital wallet. Eventually, UnionPay International, whose financial-institution members have issued more than 7.5 billion cards globally, according to China Daily, will look for ways to support PayPal’s …
• 23 January

  BMO Harris Bank Adds Zelle for B2C Payments and other Digital Transactions News briefs from 1/23/20

  

  BMO Harris Bank has made Zelle person-to-person payments available to its commercial clients, which can use Zelle to pay individuals without requiring banking information needed for ACH transactions. BMO Harris Bank says it is one of only eight banks to offer Zelle as a business-to-consumer service.Commerce Bank said insurer Progressive will use CommercePayments PreferPay for …
• 22 January

  Two Standards Bodies Consolidate Separate PIN-Acceptance Security Specs Into One

  

  Payment firms that are used to choosing which PIN standard to audit against now have a much simpler choice. The Accredited Standards Committee X9 Inc. and the PCI Security Standards Council have created a unified PIN Security Standard, replacing separate ones each organization previously maintained. The consolidation, announced Tuesday, should …