Digital Transactions Authoritative, insightful and timely information for payments professionals
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 …
April, 2020
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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 …
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9 April
Repay Adds Funding Integration and other Digital Transactions News briefs from 4/9/20
Payments-software provider Repay Holdings Corp. said it has integrated with lending-software vendor TurnKey Lender Inc., allowing financial institutions to fund loans at any time of day and accept loan payments by card or via the automated clearing house network through TurnKey’s platform or through mobile apps or other channels available to consumers.Upgrade …
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8 April
No Delay for Fuel EMV Shift Yet and other Digital Transactions News briefs from 4/8/20
Visa Inc. reportedly denied a request to delay the Oct. 1 EMV liability shift for petroleum businesses, according to a ConvenienceStoreNews.com article, which says several fuel-retailing groups petitioned Visa for the delay. Visa, the Web site said, attributing it to NACS, an association for convenience store operators, is said to be monitoring the …
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7 April
POS System Providers Swing Their Sights on Aiding Restaurants
Two point-of-sale system providers are taking action to help ailing restaurants as they contend with the repercussions of measures to stem the Covid-19 infection. First, TouchBistro Inc., a provider of payments technology for restaurants, launched its Restaurant Recovery Navigator, a collection of products and services aimed at helping dining establishments …
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7 April
Global Payments Notes Covid-19 Revenue Impact and other Digital Transactions News briefs from 4/7/20
Payments processor Global Payments Inc. reported it began to see a significant impact on its results in mid-March from the Covid-19 pandemic, and now expects first-quarter adjusted net revenue to be up “slightly” for the quarter year-over-year. Citing the unknown “duration and severity” of the pandemic on its business, Global Payments suspended …
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6 April
Card Networks Up Canadian Contactless Transaction Limits To Limit Physical Contact
Contactless payments already capture a big share of point-of-sale purchases in Canada, and that share is sure to grow with recent announcements by Visa Inc. and Mastercard Inc. that they are raising their contactless transaction limits to C$250 to limit the handling of cards that could spread the coronavirus, according …
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3 April
Eye on Acquiring: VizyPay’s Echo Daily Acquisition; Nuvei Debuts Small Business Support Program
Independent sales organization VizyPay LLC is buying one-time competitor Echo Daily Inc., and Nuvei Technologies Inc. is launching its Merchant Guru program to assist merchants affected by the Covid-19 outbreak. West Des Moines, Iowa-based VizyPay says its acquisition of Minden, Nev.-based Echo Daily will provide a boost in employee expertise …
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3 April
Grocer Publix Activating Contactless Payment Acceptance and other Digital Transactions News briefs from 4/3/20
Supermarket giant Publix said it is installing contactless-payment capability in all 1,242 of its stores in an effort expected to be completed by Saturday. The move will allow customers with mobile devices to pay via Apple Pay, Google Pay, or Samsung Pay. The chain also said it is beefing up efforts to …
