Point-of-sale

September, 2024

• 11 September

  Costco’s New Pump Payment Tech and other Digital Transactions News Briefs from 9/11/24

  

  Retailing giant Costco Wholesale Corp. has contracted with technology company Vontier to install new payments devices and software at the chain’s 76 fueling stations in Canada, starting next month. Vontier two years ago acquired Invenco, a company that included long-time fueling-technology provider Gilbarco Veeder-Root. Payment processor Silverflow said it has reached a new agreement …
• 10 September

  U.S. Merchants Pay the Highest Card Acceptance Costs in the World, a CMSPI Report Contends

  

  Merchants in the United States paid $224 billion in card-acceptance costs in 2023, the highest toll for merchants in any country in the world, according to payment consultancy CMSPI’s State of the Industry Report. Interchange fees alone accounted for $143 billion of that total. Since 2009, U.S. merchants’ like-for-like payment …
• 9 September

  Adyen Rolls Out ‘Intelligent Routing’ in Response to Debit Network Choice

  

  Adyen NV early Monday began launching what its calls an intelligent-routing service for debit cards intended to reduce merchants’ debit-acceptance costs and increase authorizations for purchases. The service, which enables Adyen to choose which network to route transactions over, was developed primarily in response to the Federal Reserve’s 2023 statement …
• 6 September

  AmEx Looks to Smooth Checkouts With a Web-Based Card-on-File Move

  

  American Express Co. expects its pilot program enabling cardholders to add their payment information at participating online merchants will please cardholders and make for smoother checkouts. The pilot, announced Thursday, allows AmEx cardholders to add or update their card information and store it for use at a participating merchant through …
• 6 September

  Chase Email Readies Cardholders for Paze and other Digital Transactions News Briefs from 9/6/24

  

  Chase emailed its cardholders Friday that it will soon offer Paze, a new online checkout service from Early Warning Services LLC, and that eligible Chase credit and debit cards will be linked to Paze. The bank will notify cardholders when Paze is ready for use. Chase also provided the option to opt …
• 5 September

  PayPal Everywhere Debuts New Rewards for the PayPal Debit Card

  

  With cash back as a favored consumer reward, PayPal Holdings Inc. is broadening its use with the debut of PayPal Everywhere, a rewards program for consumers on the PayPal Debit Mastercard. Announced Thursday, the program includes stackable cash-back offers and personalized ways to manage spending. It enables PayPal Debit cardholders …
• 4 September

  With Paysemble, Opus Looks to Simplify Payment App Integration

  

  Payments-technology provider Opus Technologies Inc. has launched Paysemble, a suite of apps that are meant to streamline payment integration for financial institutions and merchants. A cloud-based solution, Paysemble allows businesses to consolidate payments from multiple channels through interoperable message hubs, configurable security, and batch processing. As a result, businesses can …
• 4 September

  U.S. Bank’s New Smartly Card and other Digital Transactions News briefs from 9/4/24

  

  U.S. Bank said it is launching two new products, the Smartly Visa Signature card and the Smartly Savings account. The former offers as much as 4% cash back on transactions. Some 48% of consumers in the U.S. market are using digital wallets for payments, up from 38% in 2021, according to …
• 3 September

  Jack Henry Partners With Moov to Streamline Payments for Small Businesses

  

  Jack Henry & Associates Inc. has partnered with payment processor Moov Financial Inc. to enable financial institutions to offer small and medium-size businesses enhanced digital-payment services. The partnership is expected to help financial institutions attract more smaller businesses as clients and strengthen existing relationships with such sellers by providing for …

August, 2024

• 30 August

  Blame High Swipe Fees for Stores’ Cash-Back Charges, a Merchant Group Says

  

  High card-acceptance fees are the root cause for why some merchants are charging consumers for cash back at the point-of-sale, a service merchants have historically provided consumers even though customers can make purchases with their debit cards at no charge, says the Merchants Payment Coalition. Driving the trend is that …