Point-of-sale

March, 2024

• 27 March

  Every $1 Dollar in Fraud Costs Retailers $3, LexisNexis Risk Solutions Finds

  

  Fraud is nothing if not a persistent part of the payments landscape. It became more so in the past 12 months, as 60% of e-commerce merchants and 53% of retailers sustained increases in overall fraud levels, finds LexisNexis Risk Solutions in the 14th edition of its “LexisNexis True Cost of …
• 26 March

  Visa And Mastercard Agree to Merchant Rate Cuts and Acceptance Changes in a Major Settlement

  

  Merchant lawsuits challenging credit card interchange and payment card network rules that began nearly two decades ago may finally be heading for resolution under a landmark settlement announced Tuesday by Visa Inc., Mastercard Inc., and lawyers for the merchants. Merchant lawyers in the massive case estimate the settlement could save …
• 26 March

  Grocer Coop Expands Instacart Deal With AI-Powered Shopping Carts

  

  Grocery-ordering and -delivery provider Instacart says Associated Wholesale Grocers Inc., a food wholesaler, expanded its partnership to include e-commerce and same-day delivery services to grocers that belong to the cooperative. The broader deal also includes access to Caper Carts, Instacart’s artificial intelligence-enhanced smart shopping carts. More than 800 AWG grocers …
• 25 March

  Eye on Crypto: Bitcoin Depot Eyes Big Growth in 2024; BTCS Swings to a Profit

  

  Less than a year after going public, Bitcoin ATM network deployer Bitcoin Depot Inc. on Monday said it is eyeing substantial growth in 2024. Meanwhile, blockchain technology provider BTCS Inc. swung to a profit in 2023 after a loss in 2022. Recent developments from Atlanta-based Bitcoin Depot include the purchase …
• 25 March

  COMMENTARY: Cap One’s Bid for Discover Will Lift Many Boats

  

  Capital One’s proposed $35.3-billion acquisition of Discover will be a thunderclap for the debit-card, retail-banking, and payment-network markets. The Discover network has long been the number-five U.S. retail-payment network, after Visa, Mastercard, American Express, and PayPal. Since its acquisition of Diners Club from Citi in 2008, Discover has struggled as …
• 25 March

  X Gets More State OKs and other Digital Transactions News briefs from 3/25/24

  

  X Payments LLC, the payments platform for the social-media network X (formerly Twitter), received money-transmitter licenses last week from New Mexico, Oregon, and Illinois, bringing to 22 the number of states that have approved the platform for money movement. Fleetcor Technologies Inc., a business-payments provider, said it has now renamed …
• 22 March

  Digital Wallets: Users Are Happier, But Adoption Still Lags Among Consumers And Merchants Alike

  

  Customer satisfaction with digital wallets is on the rise, which is helping propel consumer adoption and usage, according to J.D. Power’s newly released 2024 Digital Wallet Satisfaction Study. Despite the increase in customer satisfaction, though, the study found wallets providers still have work to do to raise adoption among both …
• 22 March

  ParkHub and JustPark Combo and other Digital Transactions News briefs from 3/22/24

  

  Parking management and payment providers ParkHub said it will merge with JustPark, a United Kingdom-based parking reservations and payments platform. Dallas-based ParkHub said the new organization serves more than 20 million drivers and more than 500 business-to-business clients representing more than $1 billion in booking volume. Terms were not disclosed. Payments provider North …
• 21 March

  Volume for the Top 50 ACH Banks And Credit Unions Increases 5.7% in 2023

  

  The top 50 originating financial institutions on the automated clearing house network hit nearly 27.7 billion in payments in 2023, a 5.7% increase over 2022, Nacha says. Volume for the top 50 receiving FIs was almost 20 billion payments in 2023, a 6.4% increase from 2022. Herndon, Va.-based Nacha says …
• 21 March

  As Apple Opens up to Outside Payments, Big Tech Protests the Cost

  

  Apple Inc. early Thursday said it has “fully complied” with a federal court ruling requiring the technology giant to permit app developers to process payments outside of Apple’s own system. The response came after five major technology companies on Wednesday filed a petition with the court protesting that Apple’s compliance …