Point-of-sale

July, 2024

• 18 July

  Faster Payments Leap Ahead As Nacha Sees a 47% Jump in Same-Day ACH Volumes

  

  Since the 2016 launch of same-day automated clearing house payments, the payment type has done nothing but grow. The 2024 second quarter is no exception, with the latest figures showing 292.3 million transactions, a 46.6% increase from 199.4 million in 2023’s second quarter, according to Nacha, which administers the ACH …
• 18 July

  Cash App a Google Play Payment Now and other Digital Transactions News briefs from 7/18/24

  

  Block Inc.’s Cash App announced it will be a payments option on Google Play, an Android-based e-commerce store offering apps and other content and accessed by more than 2.5 billion users monthly. Payments provider Repay Holdings Corp. said borrowers will be able to pay mortgage servicers with debit cards through an integration by Repay …
• 17 July

  Data Compromises Have Dipped, But The Running Total Remains Scary

  

  Instances of data compromise in the United States were down in the second quarter, but the good news pretty much ends there, according to information released early Wednesday by the Identity Theft Resource Center. Cybercriminals pulled off 732 total compromises online in the second quarter, a total that was down …
• 17 July

  Jifiti Leverages Digital Wallets to Bring Embedded Finance to the Point of Sale

  

  Jifiti, a provider of embedded-financing solutions, is giving a new twist to the buy now, pay later trend with the introduction of Tap Now, Pay Later, a financing tool for large-ticket purchases. Examples include home-remodeling projects, in which funds are loaded into a consumer’s digital wallet via a virtual credit …
• 17 July

  U.S. Bancorp Merchant Revenue up and other Digital Transactions News briefs from 7/17/24

  

  U.S. Bancorp generated $454 million in merchant processing services revenue in the second quarter, up 4.1% from $436 million in the year-ago quarter. Private-label card specialist Synchrony Financial posted $3.7 billion in second-quarter revenue, up 12.1% from $3.3 billion in the 2023 second quarter. Net income of $643 million increased 13% from $569 …
• 16 July

  Eye On BNPL: Sezzle Speaks Spanish; Affirm Partners With Newegg

  

  Buy now, pay later provider Sezzle Inc. has added Spanish-language capability to its app. The addition is expected to broaden Sezzle’s appeal among Spanish-speaking consumers in the United States. There are more than 40 million Spanish-speaking consumers in the United States, according to Sezzle, while Spanish-speaking customers represent about 22% …
• 15 July

  J.D. Power Launches a Certification Program for Mobile App Platforms

  

  J.D. Power announced early Monday the launch of a mobile-banking app certification program. The program is intended to recognize app providers that deliver an exceptional user experience, the company says. The J.D. Power Mobile App Platform Certification-Banking program rates mobile apps using a set of 146 best-practices benchmarks, including app …
• 12 July

  A Card Issuer Trade Group Turns Up the Heat in Its Anti-CCCA Campaign

  

  The Electronic Payments Coalition’s attack this week against the Credit Card Competition Act calls out retailers Target Corp. and Walmart as greedy mega-corporate stores that stand to profit at the expense of consumers should the legislation pass. The aggressive tone of the EPC’s “high six-figure” campaign, unleashed this week, signals …
• 12 July

  Eye on POS: MagTek Secures ExpiTrans As a Reseller; Visa Readies for 2024 Olympics

  

  Point-of-sale technology company MagTek Inc. has lined up payments provider ExpiTrans as a reseller of its QwickPAY POS software. Meanwhile, Visa Inc. says its technology is ready for the start of the summer Olympics in Paris in two weeks. Seal Beach, Calif.-based MagTek says ExpiTrans will market its software to …
• 12 July

  Inswitch Lands Processing Contract and other Digital Transactions News briefs from 7/12/24

  

  U.S.-based embedded-finance platform Inswitch announced it will issue and process Visa debit cards locally and internationally for n1co Technologies, a fintech based in El Salvador. Online travel agency Expedia Group Inc. signed a multiyear agreement with Wells Fargo Co. and Mastercard Inc. to launch two new cobranded credit cards. Digital-payments platform Billtrust said Visa Inc. has …