Digital Transactions Authoritative, insightful and timely information for payments professionals
The nation’s largest issuer of store cards sounded a note of optimism Tuesday as the Covid-19 crisis continued to ravage consumer spending. “Believe it or not, there are deals in the pipeline [with merchants],” said Margaret Keane, chief executive of Synchrony Financial. “We’re not sitting back. We’re highly engaged.” Keane …
April, 2020
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21 April
Coinqvest Debuts Crypto Processing Service and other Digital Transactions News briefs from 4/21/20
Coinqvest launched its enterprise cryptocurrency processing platform. With it, merchants can be paid online in cryptocurrencies and convert them into traditional currencies.The New York City Department of Transportation announced two apps can be used to pay for parking at more than 80,000 metered spots. In addition to the ParkNYC app, which …
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17 April
FreedomPay Adds Google Pay Support and other Digital Transactions News briefs from 4/17/20
Payments provider FreedomPay has added support for Google Pay, enabling Google Pay users to make e-commerce payments in Android apps and in Web browsers. This can be done on a merchant’s Web site regardless of browser or operating system or within an Android app, with FreedomPay securely integrating to the Google Payments …
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16 April
Moderation in Sales Trends Emerges in E-Commerce and Among Small Businesses
Two reports analyzing sales at e-commerce merchants and small businesses during the Covid-19 pandemic indicate moderation in some categories may be happening. Many categories among e-commerce merchants moved a few percentage points for the week of April 7-13, according to the Covid-19 Weekly Pulse Report for E-commerce from San Jose, …
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16 April
Stripe Raises $600 Million and other Digital Transactions News briefs from 4/16/20
Saying the Covid-19 pandemic “is pushing the economy online,” e-commerce payment processor Stripe Inc. announced it has raised another $600 million through an extension of its Series G funding round. Stripe said it will use the funding “to step up product development, global expansion, and strategic initiatives.”Payments provider Clearent launched Clearent EDU, a free …
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14 April
Chase’s Merchant Volume Rose 5% Despite a ‘Tale of Two Cities’ First Quarter
JPMorgan Chase & Co., parent company of the nation’s biggest bank-owned merchant acquirer, managed to pull off a 5% increase in processing volume in the first quarter despite the restrictions on economic activity that took force in many states in the second half of March to control the Covid-19 pandemic. …
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14 April
eBay Names Walmart Exec as New CEO and other Digital Transactions News briefs from 4/14/20
EBay Inc. named former Walmart Inc. executive Jamie Iannone chief executive officer, effective April 27. Iannone, who will succeed interim CEO Scott Schenkel, most recently served as chief operating officer of Walmart eCommerce and was at one time chief executive of SamsClub.com. EBay indicated earlier this year it has plans to …
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13 April
Groceries Are Up, Fuel Is Down, According to a PSCU Study of Credit And Debit Card Spending
More consumers appear to be keeping their credit cards in their wallets when they shop. Credit union service organization PSCU says its data show that overall credit card spend among consumers who use credit and debit cards issued by credit unions working with PSCU is down 29.3% for the week …
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10 April
Some Small Businesses Are Seeing Higher Sales During Pandemic, ETA-Strawhecker Survey Finds
The screeching slowdown in consumer spending caused by efforts to stem the spread of the Covid-19 pandemic has hit U.S. small businesses particularly hard, but there are some bright spots, according to the Electronic Transactions Association and merchant-acquiring research and consulting firm The Strawhecker Group. The survey of more than …
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9 April
An Analysis of Planned Changes to Network Rates Yields a Deep Impact for U.S. Merchants
Visa Inc. and Mastercard Inc. have postponed their planned U.S. interchange revisions until July, but when these changes do take effect the net impact on merchants will be deep, according to an analysis released by CMSPi, an Atlanta-based global merchant payments consultancy. Indeed, the new pricing planned by the two …
