- Fiserv Inc. said its First Data unit, together with Visa Inc. and Samsung Electronics, is demonstrating a new software-based point-of-sale technology that allows an everyday mobile device to accept contactless payments from contactless cards or phones or wearables equipped with near-field communication. A pilot of the technology is set for Poland by the end of the year.
- CannaTrac Technology Inc. said an agreement with Pacific Banking Corp. will enable state-licensed cannabis dispensaries and other retailers to apply concurrently for both the CannaTrac mobile-payments platform and banking services.
- Many Bay Area restaurateurs want to add credit card surcharges to offset rising costs, but most haven’t done so for fear of alienating customers, the San Francisco Chronicle reported. One restaurant that did, however, said it is saving $40,000 a year.
- Goeasy Ltd., a payments provider for non-prime consumers in Canada, said it formed a partnership with and made a minority investment in PayBright, an installment-payment provider.
- Visa Inc. said it has renewed its sponsorship of New York Fashion Week: The Shows as the official payment technology partner. New York Fashion Week runs Sept. 6-14.
- Benefit Mobile, a platform for donations via mobile devices, added a feature allowing acceptance of physical gift cards. The company was recently acquired by National Gift Card, a gift card technology company.
- Driven by higher net interest income, the 5,303 banks and savings institutions insured by the Federal Deposit Insurance Co. posted aggregate net income of $62.6 billion in the second quarter, up 4.1% from a year earlier, the FDIC reported in its latest Quarterly Banking Profile. The number of “problem banks” fell to 56, the fewest since the first quarter of 2007.
- China’s central bank is developing a digital currency that would bear some similarities to Facebook Inc.’s proposed Libra cryptocurrency and could be used across major payment platforms such as WeChat and Alipay, Reuters reported.
With the Covid-19 pandemic accelerating restaurants’ transition to digital payment technology, processors Shift4 Payments Inc. …