Transaction Processing

A trend toward a near-total collapse in travel-and-entertainment spending helped drive down overall first-quarter card volume and discount revenue for American Express Co., the company reported Friday. “March was a very difficult month,” Stephen Squeri, AmEx’s chairman and chief executive, told stock analysts during a morning conference call. As with …

Independent sales organization Electronic Merchant Systems said it is working with Womply, a software and data-services provider for small businesses, to help merchants find lenders offering quick access to loan applications through the government’s Paycheck Protection Program, a Covid-19 relief effort.For the first time, ransomware incidents overtook payment card data when comparing the …

Discover cardholders might not jet around the country like many American Express cardholders do, but it’s still telling that Discover’s travel spending volume has plunged 99% this month as governmental stay-at-home orders and business closures to control the Covid-19 pandemic chill the economy. The near grounding of travel spending was …

Payroc LLC said it acquired Gateway Payments LLC, an independent sales organization with merchants primarily along the Gulf of Mexico coast. Terms were not disclosed.Weave Communications Inc., a provider of payments and other services for small businesses, said its Weave Lite tool set will be offered free for 90 days. Weave …

With the novel coronavirus driving consumers to e-commerce, payments provider Adyen NV posted first-quarter revenue of 135.5 million euros ($146.9 million), up 34% year-over-year.  Volume rose 38% to 67 billion euros ($72.6 billion). Adyen processes payments for companies such as Uber, McDonalds, and Netflix, and also provides gateway services for …

American Express Co. launched “Stand for Small,” a platform of more than 40 companies who have agreed to lend expertise to small businesses impacted by the effects of the Covid-19 pandemic.The World Bank predicted in a new report that global remittances will fall by about 20% this year because of the economic crisis …

The nation’s largest issuer of store cards sounded a note of optimism Tuesday as the Covid-19 crisis continued to ravage consumer spending. “Believe it or not, there are deals in the pipeline [with merchants],” said Margaret Keane, chief executive of Synchrony Financial. “We’re not sitting back. We’re highly engaged.” Keane …

Nearly empty commercial airline flights mean a lot less tickets being purchased. This result of efforts to tamp down the Covid-19 infection packs a wallop for the travel industry. But, the time can be put to use taking care of formerly delayed payment projects and preparing for the resumption of …

In an update, eBay Inc. said it will expand its managed-payments platform later this year to Australia and Canada. The platform, which funnels payments to a variety of processors through a gateway provided by Adyen, has processed more than $2 billion so far for more than 25,000 sellers in the United States, …

Among payment devices, gift cards are unique in that they can promote a business as well as enable payments at the store or online. That’s an edge at a time of a pandemic, and now technology platforms that support digital gift cards are leveraging that advantage. Yiftee Inc. late on …