Thursday , November 26, 2020

Discover Volume up 11% and other Digital Transactions News briefs from 10/22/20

  • Discover Financial Services reported its payment-services volume totaled $69.7 billion in the third quarter, up 11% year-over-year. Volume on the Pulse debit network increased 16% to $55 billion owing to larger average spending due to the pandemic and to the lift from stimulus funds.
  • Payments provider PaymentCloud Inc. said it acquired contactless technology startup Paysley for an undisclosed amount. Paysley’s service enables merchants to send secure payment requests to customers using text messaging, picture messaging, and email.
  • Commerce platform GoTab Inc. said it is expanding its contactless payment services beyond its base in restaurants to reach grocery stores, gas stations, stadiums, golf courses, and retail outlets.
  • Contactless payments startup Up n’ go, which launched in 2018, said its service is now used in more than 1,000 restaurants in 49 states. Transaction volume surpassed 1 million this month, it said.
  • The U.S. Payments Forum will hold its member meeting starting Nov. 9-12 and Nov. 17-19. Among the subjects are EMV, Covid’s impact on payments, QR codes, mobile pay-at-the-pump, and eight-digit BINs in the United States.
  • Payments provider Alacriti launched its Cosmos for RTP technology, which allows banks and credit unions to link to The Clearing House Payments Co.’s Real Time Payments network.
  • Bill-payment technology provider doxo Inc. reported survey results showing 42% of consumers have missed at least one bill payment in the past seven months owing to the financial impact of Covid-19.
  • Deloitte’s “2020 Holiday Survey: Reimagining Traditions” study found that 65% of the more than 4,000 consumers surveyed will shop online this holiday season to avoid crowds. Thirty-five percent preferred using buy-online-pickup-in-store transactions and 27% will opt for curbside pickup, two options that are expected to more than double in usage from last year, Deloitte said.
  • Paysafe Group’s latest “Lost in Transaction” research found that 80% of North American small and mid-size businesses with physical locations that added online commerce or added to their card-present payment options during the Covid-19 pandemic have seen a positive impact. The survey of 350 businesses in mid-September also found that 88% made at least one change to their checkouts during the pandemic.
  • First American Payment Systems LP said CaryFy, a software developer for the senior-care industry, named it a preferred payment technology partner.
  • Payroll platform Deel Inc. introduced Deel Advance, which allows workers to draw their earnings as much as 30 days in advance of payday without interest or credit scoring.

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