Point-of-sale

January, 2025

• 8 January

  Seven Years in, the Big Banks’ Real Time Network Nears a Million Transactions a Day

  

  Consumers and businesses are embracing instant payments at a fast clip, even as volume growth makes double-digit increases harder to maintain. And while businesses account for a large portion of dollar volume, most of those blink-of-an-eye transactions involve consumers, says The Clearing House Payments Co., which early Wednesday released the …
• 8 January

  CFPB Sues Experian and other Digital Transactions News briefs from 1/8/25

  

  The Consumer Financial Protection Bureau sued credit reporting agency Experian over claims it unlawfully failed to properly investigate consumer disputes. In a statement, Experian says the lawsuit is without merit. “It is contrary to longstanding regulatory and judicial precedent and is another example of irresponsible overreach by the CFPB. Our legal position …
• 7 January

  Eye on Point of Sale: Elo’s New Display; FreedomPay’s Verifone Partnership; Blaze’s Sage Integration

  

  Point-of-sale systems makers are already putting 2025 to work, with multiple announcements from vendors. First, Elo Touch Solutions Inc. launched a 10-inch point-of-sale system for retailers and restaurateurs. The Elo Pay 10” is built on the Android operating system. In addition to contact and contactless payment acceptance, the device has …
• 6 January

  Services and Retail Consumer Spending Boost Fiserv’s Small Business Index

  

  Small-business sales were up 4.9% year-over-year in December as consumers maintained strong retail spending while diverting more to service-based businesses, found the latest Fiserv Small Business Index. Launched a year ago, the index analyzes transaction data from approximately 2 million U.S. small businesses on the Fiserv Inc. and Clover point-of-sale …
• 6 January

  PayPal Faces Discrimination Lawsuit and other Digital Transactions News briefs from 1/6/25

  

  An Asian-American businesswoman named Nisha Desai has sued PayPal Holdings Inc. on grounds of racial discrimination, alleging the company restricted some of a $535-million investment commitment to Black and Hispanic candidates. The suit, filed in U.S. District Court for the Southern District of New York, asks for unspecified damages and an order …
• 3 January

  The Payments Industry Works to Solve for X

  

  The payments industry is heading into the new year with a significant question mark hanging over its head: What does it mean that the massive social network X is apparently planning to launch a payments network? Little is known so far about the initiative. A New Year’s Eve post on …

December, 2024

• 31 December

  WhatsAppPay Rolls Out in India and other Digital Transactions News briefs from 12/31/24

  

  Meta Platform’s WhatsApp payments service has been permitted by the National Payments Corp. of India, a regulatory body, to roll out WhatsApp Pay to its entire user base of 500 million in that country. Meta formerly was known as Facebook. GasBuddy, which offers a payments card featuring discounts on gasoline, forecasts the …
• 26 December

  FinCEN BOI Back on and other Digital Transactions News briefs from 12/26/24

  

  The FinCEN Beneficial Ownership Information mandate is back in force with a recent court decision. That rule, part of the Corporate Transparency Act passed in 2024,had required businesses to file a Beneficial Ownership Information report by Jan. 1, which was delayed earlier in December but now makes these reports due Jan. 13. Businesses formed …
• 24 December

  Snapchat’s Blackhawk Gift Card Plan and other Digital Transactions News briefs from 12/24/24

  

  Blackhawk Network will offer physical gift cards to users of Snapchat’s subscription service, Snapchat+. Snapchat is a messaging platform. The digital-payments platform Wirex has added two stablecoins, VNX Euro and VNX Swiss Franc, allowing users to spend the currency directly through their WIrex cards. Payments via QR codes will “shift from one niche …
• 24 December

  Merchants Hit Back at a Banking Group’s Request That the Fed Hold off on Reducing a Debit Interchange Cap

  

  The Merchants Payments Coalition fired back late Monday at a request last week from the American Bankers Association that the Federal Reserve not act on a proposal to lower a longstanding limit on the interchange banks can earn on debit card transactions.  In a letter to the Fed, the MPC …