Sunday , July 5, 2020

Loyalty Programs at Cannabis Retailers and other Digital Transactions News briefs from 5/14/19

  • POSaBIT, a point-of-sale services provider for cannabis retailers, said an analysis of “hundreds of thousands” of transactions at more than 120 California, Washington, and Colorado stores found that consumers belonging to a cannabis retailer’s loyalty rewards program had a 28% higher average ticket value and visited the store more frequently than those not in a program.
  • Mastercard Inc. launched its Innovation Engine, a platform allowing issuers and merchants to more readily introduce digital services for customers, using application programming interfaces.
  • Payment Data Systems Inc. said its FiCentive subsidiary will provide its Akimbo prepaid Mastercard product to Snowfly Performance Incentives, an employee-incentive program provider.
  • Cross-border payments specialist PPRO and treasury-automation provider HighRadius announced an integrated service to allow merchants to more easily accept local payments globally.
  • The United Kingdom’s Competition and Markets Authority is taking comments until May 27 on whether the planned acquisition by Fiserv Inc. of payment processor First Data Corp. will result “in a substantial lessening of competition” in the U.K. payments market.
  • Processor Fidelity National Information Services Inc. (FIS), said it intends to offer senior notes denominated in the euro, British pound, and U.S. dollar along with commercial paper to fund the cash portion of its planned $43 billion cash and stock deal to acquire Worldpay Inc.
  • Cubic Transportation Systems received a $68.2 million contract extension for services related to the TAP regional fare-payment program for the Los Angeles County Metropolitan Transportation Authority. TAP is the Authority’s contactless payment system that links 26 regional transit providers on a common contactless card.
  • CardX LLC named Natalie MaLossi vice president of operations. MaLossi had worked at Braintree, an e-commerce payments firm owned by PayPal Holdings Inc. At surcharging specialist CardX, MaLossi will manage its client support team among other duties.
  • Visa Inc. said 11 of the top 25 U.S. payment card issuers are deploying contactless credit and debit cards.

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European Banks Plan Payment Network and other Digital Transactions News briefs from 7/2/20

A group of 16 European banks said they plan to launch a “truly European” unified payments system …

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