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- Payment card manufacturer CPI Card Group Inc. said first-quarter sales of credit and debit cards rose 22% from a year earlier to $59.8 million, driven in part by strong demand for dual-interface EMV cards that support contactless payments. The company reported first-quarter net income of $2.42 million versus a loss of $3.06 million in 2019’s first quarter on total sales of $74 million, up 11%.
- In an April 20 survey, 77% of U.S. consumers were either highly or moderately concerned about germ spread when inserting a card into a payment terminal, according to The Strawhecker Group. Only 23% said there was an adequate number of stores offering contactless payments. Forty-two percent said not enough stores offer contactless payments capabilities.
- North American Bancard LLC announced enhancements that include a bigger activation bonus when merchants sign up for NAB’s Electronic Payment Exchange and more billing options for merchants enrolled in its flat-rate pricing and cash-discount program, Edge, among others.
- CompareCards, part of LendingTree, said 25% of consumers surveyed had their credit limits reduced or their cards canceled in the past 30 days. More than 1,000 consumers were surveyed from April 22 to 24.
- Payments technology provider Datacap Systems Inc. announced an integration deal with Real Time Ordering that enables merchants to accept online orders using the same processing platform as they do for in-store payments.
- Boosted partly by the coronavirus-induced consumer shift to online shopping, e-commerce services and payments provider Shopify Inc. said its gross payments volume hit $7.3 billion in the first quarter, up 49% from $4.9 billion a year earlier.
- Wire-transfer market leader The Western Union Co. said first-quarter revenues from consumer-to-consumer transactions slipped 4% year-over-year to $1.05 billion on a 3% decline in transactions.
- In its latest quarterly report on household debt, the Federal Reserve Bank of New York says credit card receivables totaled $893 billion in the first quarter, up 5% from $848 billion a year earlier.
- Point-of-sale equipment maker Pax Technology Inc. said two of its Android-based POS devices are available to customers of AxiaMed, a health-care payments technology company.
- Card issuer and payments provider UATP is working with Citcon to enable UATP airline participants access to Alipay, WeChat Pay, and China UnionPay mobile-payment services.
- Conferma Pay said it is integrating Visa virtual cards in its mobile app, enabling virtual card payments from a phone’s digital wallet wherever contactless payments are accepted.
- The Financial Conduct Authority, a British regulatory agency, is giving the payments industry a further six months, until Sept. 14, 2021, to implement strong customer authentication (two-factor authentication) for e-commerce transactions due to “the exceptional circumstances of the Covid crisis.”
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