Point-of-sale

April, 2024

• 5 April

  Mobile Wallets and Contactless Payments Growing in Popularity, NFC Forum Says

  

  Consumers are not only favoring contactless payments more, they are relying more on their mobile wallets to initiate payments, according to the NFC Forum’s bi-annual Near Field Communication Usage and Adoption study. The study, conducted by ABI Research, reveals that 95% of respondents have left their physical wallets at home …
• 5 April

  Skipify Working with Visa’s Digital Commerce Program and other Digital Transactions News briefs from 4/5/24

  

  Checkout fintech Skipify said it is working with Visa Inc.’s Digital Commerce Program on initiatives, among them letting Skipify users link Visa Click to Pay cards to a Skipify’s Connected Wallet. This move speeds recognition of Skipify users on e-commerce sites to more quickly show the users’ available cards. PSCU/Co-op Solutions, a …
• 4 April

  Klarna Launches a Web Page to Rebut the Idea That BNPL Burdens Consumers With Debt

  

  Looking to dispel criticism that buy now, pay later loans are predatory-lending products, BNPL provider Klarna AB has launched Wikipink, a Web page that details information about its BNPL business, such as repayment rates, late fee rates, and consumer demographics. “By publishing our facts and figures with full transparency, including …
• 3 April

  Mastercard Plans a Network Fee Hike for Later This Month. Merchants Aren’t Happy

  

  Mastercard merchants will see a network fee increase later this month when Mastercard increases its Acquirer Brand Volume Fee from 0.13% to 0.14%, effective April 15. The increase comes on the heels of last week’s settlement between Visa and Mastercard, on one hand, and merchants, on the other, in their …
• 3 April

  Lightspeed Makes Layoffs and other Digital Transactions News briefs from 4/3/24

  

  Canada-based payments processor Lightspeed Commerce Inc. announced it will reduce its headcount by roughly 10%, or 280 jobs, and make other spending cuts in operations and facilities, in a cost-cutting initiative it expects to complete by the end of June. The company has not had a profitable year since going public in …
• 2 April

  Nuvei Strikes a Deal With Advent International to Go Private

  

  Nuvei Corp. announced early Tuesday it has entered into a definitive agreement with private-equity firm Advent International to be taken private in an all-cash deal valued at $6.3 billion. The deal comes less than a month after the Montreal-based processor announced it was fielding offers to take the company private. …
• 2 April

  Wallets Aren’t Prepaid Cards, Says a Federal Judge in Opposing Fee Disclosure Rules From the CFPB

  

  For the second time, PayPal Holdings Inc. has prevailed against the Consumer Financial Protection Bureau. This time, the case involved the Bureau’s effort to require PayPal to make disclosures regarding its fees associated with digital wallets. U.S. District Judge Richard Leon ruled Friday that wallets are not prepaid cards and …
• 2 April

  PayPal, Venmo Activate Visa+ and other Digital Transactions News briefs from 4/2/24

  

  Visa Inc. announced PayPal and Venmo have activated Visa+, its interoperable peer-to-peer payments service that enables users in one P2P service to make a payment to another person using another network. Fintech Current and The Western Union Co. are expected to enable Visa+ next, Visa said. The service’s B2C payout capability has …
• 1 April

  ACI Targets a Growing Digital Payments Market in the Middle East and Africa

  

  ACI Worldwide Inc. announced early Monday it has signed a 10-year partnership with digital-payments technology provider Arab Financial Services. The deal is expected to accelerate ACI’s push to help financial institutions and fintechs in the Middle East and Africa modernize their digital-payments technology infrastructure, according to ACI. Under the terms …
• 1 April

  With a Lower Cost and a No-Chargebacks Promise for Merchants, Pay by Bank Emerges as a Fiserv Priority

  

  Pay by bank is not a new electronic-payments concept—consumers have been paying utility bills with their bank accounts for years—but the promise of lower fees and reduced merchant headaches is energizing the service, and work is at hand developing new use cases. Witness Radial Inc., an e-commerce platform adopting Link …