Transaction Processing

Buy now, pay later spending in the United States through provider Afterpay Ltd. has risen 230% in the past 12 months, with a 34% increase year-over-year during the Black Friday through Cyber Monday period, the company said. Square Inc.’s acquisition of Afterpay, announced in August, is expected to close in the first quarter next …

With defaults on buy now, pay later loans on the rise, BNPL providers need to be cognizant that creating a flexible repayment plan can not only help improve recovery rates, but help retain delinquent customers by providing a better customer experience during the collection phase, says a study from digital …

Cyber Monday 2021 is in the books, and a number of lessons have emerged from the biggest online-shopping day of the year regarding how consumers are spending. They didn’t use their mobile phones as much as expected, buy now, pay later picked up some momentum, and inflation asserted itself in …

Strong early holiday spending slightly curtailed consumer spending over the Thanksgiving weekend, according to reports from Adobe Inc. Consumers spent $4.5 billion online on Saturday, down 4.3% from a year ago, and $4.7 billion online the following day, down 0.5% from the same period a year ago. But Adobe is predicting consumers will …

Debit cards have become the preferred payment method among Millennials and Gen Zers for online purchases and for use in digital wallets. A recent Carat Insights Report from Fiserv Inc. reveals that 59% of Millennials and Gen Zers use debit online because they prefer the financial control debit cards provide …

Jack Dorsey, chief executive of both Square Inc. and Twitter Inc., is stepping down effective immediately as chief executive of social-media platform Twitter, Dorsey posted on Twitter. He will be succeeded by Twitter chief technology officer Parag Agrawal.E-commerce holiday shopping on the Monday following Thanksgiving—known as Cyber Monday—will increase 21% over the same day …

Shoppers have flooded online shopping sites in response to the pandemic, and now stores are expecting a further bonanza of e-commerce sales as consumers flock to sites for Black Friday and Cyber Monday deals. But while these two annual shopping extravaganzas will boost sales, they also are likely to have …

As real-time payments cements itself as a payments fixture, bank processors are enthusiastically signing new clients to provide the speedy payment service. Financial-institution processor Jack Henry & Associates Inc., in particular, has been enrolling merchants at a rapid pace in The Clearing House Payment Co. LLC’s Real Time Payments network. …

An ambitious payments startup clinched a big funding round on Tuesday and said its sights are now set on the U.S. market as well as other countries. London-based Payhawk Ltd. secured $112 million in a Series B round led by San Francisco-based Greenoaks, valuing the 3-year-old company at $570 million. …

Consumer concerns about slow deliveries and worldwide inventory issues means some 45% of holiday-season spending this year will go to gift cards, according to survey results from consumers in 10 countries gathered by Blackhawk Network Holdings Inc. That represents a 27% increase in gift card spending from last year’s holidays, Blackhawk says. …