Point-of-sale

June, 2020

• 23 June

  With an $825-Million Deal for Finicity, Mastercard Picks up Open-Banking Tech for POS Credit

  

  Mastercard Inc.’s $825-million deal for Finicity Corp., announced Tuesday, may be aimed at ensuring a strong position in burgeoning markets like point-of-sale credit, but it could also prove handy as consumers struggle with the financial fallout of the coronavirus pandemic, observers say. The acquisition, which Mastercard says should close by …
• 22 June

  Maverick Payments Debuts Gateway and other Digital Transactions News briefs from 6/22/20

  

  Maverick Payments launched its payment gateway, which supports 3-D Secure, account updaters, and interchange optimization.Digital-payments technology provider Checkout.com announced a $150 million Series B funding round, valuing the company at $5.5 billion. The round, led by technology fund Coatue, tripled the company’s value.ATM and point-of-sale hardware and software provider Diebold Nixdorf Inc. said it generated …
• 19 June

  Diebold Nixdorf Eyes $50 Million in Savings and other Digital Transactions News briefs from 6/19/20

  

  ATM manufacturer Diebold Nixdorf Inc. extended its agreement with consulting firm Accenture plc to streamline its operations by making business processes digital and moving them to the cloud. Diebold Nixdorf says the pact could yield $50 million in savings through 2023.The Federal Reserve released its FraudClassifier model, an effort to bring consistency to the …
• 18 June

  Private-Label Debit Provider ZipLine Sold to PDI

  

  ZipLine, the provider of private-label debit payment services for convenience stores like Cumberland Farms, has been acquired by Professional Datasolutions Inc., a c-store software developer and services company. Announced Thursday, the deal will enable Alpharetta, Ga.-based PDI to bundle ZipLine’s private-label debit and mobile-payment app with its Marketing Cloud Platform. …
• 18 June

  May E-Commerce Spending up 93% and other Digital Transactions News briefs from 6/18/20

  

  E-commerce spending in the United States surged 93% in May, compared to May 2019, according to Mastercard Inc.’s SpendingPulse data service.Installment-payment technology provider Splitit Payments Ltd. said it signed a multiyear deal with Mastercard Inc. to provide access to Splitit’s installment options through Mastercard’s merchant network. Split and Mastercard also plan to jointly …
• 17 June

  With a Loss Before Britain’s High Court, Visa And Mastercard Face an Interchange Reckoning

  

  Merchants in the United Kingdom won an important battle against interchange fees on Wednesday but it remains uncertain just how much that will mean to them in terms of remuneration from Visa Inc. and Mastercard Inc. The case also could have ramifications for similar action in the U.S. market, some …
• 17 June

  Synchrony Unveils Small-Business Aid Effort That Includes Digital Payment Tools

  

  Store card provider Synchrony Financial on Wednesday launched a program that offers small businesses grants through community organizations and includes access to digital payment tools and consulting services. The initiative comes as many small businesses struggle with the economic disruption caused by the Covid-19 pandemic as well as closures and damage …
• 17 June

  Amazon To Use Mastercard Tokenization and other Digital Transactions News briefs from 6/17/20

  

  Mastercard Inc. announced Amazon.com Inc. will start using tokens to replace actual customer card data throughout 2020. Tokenization replaces actual card data with data strings that are meaningless to outside parties. The process also permits automatic credential updating when cards expire.Payments card standards body EMVCo made it official—consumer-facing online-payment checkout options based on …
• 16 June

  Eye on POS Systems: Lightspeed Adds E-Commerce Features and Revel Augments Online Ordering and Other Features

  

  In the wake of Covid-19, merchants continue to see more features added to cloud-based point-of-sale systems. In the latest updates, Lightspeed POS Inc. introduced on Tuesday new e-commerce services, including shipping, curbside pick-up, and appointment setting. And Revel Systems Inc. has refined its online ordering and order-pickup management. First up, …
• 16 June

  Square’s PPP Lending and other Digital Transactions News briefs from 6/16/20

  

  Merchant processor Square Inc. said that as of June 10 its Square Capital service had facilitated more than $820 million in Paycheck Protection Program loans to 76,000 small businesses since April 29. PPP loans are part of the federal government’s stimulus program to combat the economic downturn caused by the Covid-19 pandemic.In …