Digital Transactions Authoritative, insightful and timely information for payments professionals
After suffering through a 40% year-over-year decline in payment volume because of the Covid-19 pandemic, merchant processor EVO Payments Inc. says many merchants that went dormant are generating transactions again. Atlanta-based EVO’s active merchant count declined by about 35% during the worst part of the pandemic-induced business slowdown in mid-April, …
May, 2020
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8 May
Cardtronics Eyes Long-Term Covid-19 Business Impact and other Digital Transactions News briefs from 5/8/20
Cardtronics plc chief executive Edward West pointed to a long-term effect from the Covid-19 pandemic that he said could prove beneficial for the company, the world’s largest ATM operator. “We also believe that this crisis will likely accelerate the trend of bank branch transformation as several leading retail banks have already …
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7 May
Fiserv CEO Yabuki Sees Signs of Stronger Growth as He Yields to Former First Data Chief Bisignano
Jeff Yabuki will step down July 1 after 15 years as chief executive of Fiserv Inc. and will be succeeded by Frank Bisignano, who joined the company last year after it acquired First Data Corp., of which Bisignano was CEO, in a $22-billion all-stock deal. Yabuki, who is also Fiserv’s …
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7 May
FIS’s Merchant Revenue Balloons and other Digital Transactions News briefs from 5/7/20
Fidelity National Information Services Inc. (FIS) reported $935 million in revenue in its merchant solutions segment in the first quarter of 2020, a 1,770% increase from $50 million a year ago. That’s a reflection of the integration of acquirer Worldpay, which FIS purchased last year. Sales were up in non-discretionary verticals, online …
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6 May
Why PayPal Thinks Shifts to Digital Payments Will Outlast the Covid-19 Lockdowns
Observers have said before that the Covid-19 crisis is reshaping payments, but on Wednesday afternoon executives at PayPal Holdings Inc. made it clear they expect this shift to digital options to be permanent. “People don’t want to touch cash. They don’t want to touch screens. There’s going to be a …
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6 May
Despite a Big Quarterly Loss, Square Eyes Bright Spots in the New Covid-19 Environment
Square Inc.’s seller volume is down and its net loss more than doubled to $106 million in the first quarter. But Square’s Cash App service is thriving during the Covid-19 pandemic, and Square expects its merchant business will more than recover. “We see significant opportunity to bring new sellers and …
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6 May
Global Payments Shows Glimmers of Optimism in the Face of Covid-19 Lockdowns
Lockdowns and social distancing have been a gut punch for many payments businesses, but early Wednesday top executives at Atlanta-based processor Global Payments Inc. indicated the pain may be wearing off. “We’ve already seen stabilization in April,” chief executive Jeff Sloan said during a morning call with equity analysts. “We …
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6 May
CPI’s EMV Card Boost and other Digital Transactions News briefs from 5/6/20
Payment card manufacturer CPI Card Group Inc. said first-quarter sales of credit and debit cards rose 22% from a year earlier to $59.8 million, driven in part by strong demand for dual-interface EMV cards that support contactless payments. The company reported first-quarter net income of $2.42 million versus a loss of $3.06 …
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5 May
Fiserv’s PIN-on-Glass Enables Online SNAP Payments
Processor Fiserv Inc. is testing online acceptance of SNAP electronic benefits transfer payment as part of a U.S. Department of Agriculture program. Consumers using Supplemental Nutrition Assistance Program EBT cards can pay online via a digital PIN pad in tests at 33 ShopRite grocery stores in New York, Brookfield, Wis.-based …
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5 May
AmEx Extends Fuel-Pump EMV Liability Shift Date and other Digital Transactions News briefs from 5/5/20
American Express Co. tells Digital Transactions News that it is postponing its EMV liability shift for automated fuel dispensers by six months, until April 16, 2021. The move comes four days after Visa Inc., citing the problems created by the Covid-19 pandemic, notified the fuel-retailing industry that it was postponing its October 2020 …
