Digital Transactions Authoritative, insightful and timely information for payments professionals

August, 2024

• 12 August

  M&A Is Unpredictable, But Deals Are Emerging As CEOs Plan for Economies of Scale

  

  Payments has always been an acquisitive business, as economies of scale loom large for CEOs and CFOs and buying that scale can often look cheaper and quicker than building it over time. But so far, activity in 2024 is mapping to what was seen last year—which is to say, slow. …
• 12 August

  EasyPark’s Vancouver Parking Plans and other Digital Transactions News briefs from 8/12/24

  

  Sweden-based EasyPark Group, a provider of mobile apps for parking payments, is working with parking-technology firms ZipBy and Fennix to enable parking and gate-entry at parking lots throughout Vancouver, British Columbia. EasyPark expanded into North America in 2021 with its acquisition of Park Now Group, which included ParkMobile LLC. EasyPark acquired Park …
• 9 August

  Most Consumers Use a Tech-Based Mobile Wallet as Retailer Ones Lag

  

  Mobile wallets vie for consumer attention, but tech-based ones are most favored as 54% of credit cardholders use one of the big three—Apple Pay, Google Wallet, or Samsung Pay—finds new research from Auriemma Group. Tracked by the New York City-based advisory firm since 2016 in its Mobile Pay Tracker, mobile …
• 9 August

  Processing Fees, Not Interchange, Are the Cost Merchants Should Combat, Some Say

  

  Merchants’ disdain for interchange is well documented, but one aspect of card-acceptance costs that gets drowned out by the outcry over interchange is that rising processing fees are hitting merchants harder than interchange hikes, according to some observers. Processors’ rate hikes have been running between 0.25% and 1.5% in recent …
• 9 August

  Lightspeed Lines up US Foods Referral Channel and other Digital Transactions News briefs from 8/9/24

  

  Lightspeed Commerce Inc. announced it is working with US Foods Holding Corp., a large foodservice distributor, to sell Lightspeed’s payments technology for restaurants in the U.S. market. Embedded payments provider i3 Verticals Inc. reported $56 million in fiscal third-quarter revenue, down 2.3% from $57.3 million year-over-year. Its net loss increased to $8.3 million …
• 8 August

  How Shift4’s CEO Looks to Build Shift4 Into ‘the SpaceX of Payments’

  

  Having finished what its chief executive called “a very busy quarter,” the major processor Shift4 Payments Inc. early Thursday reviewed recent moves in acquisitions, stadium deals, and point-of-sale technology, both for its longstanding position in the U.S. hospitality market and overseas. Even more ambitious initiatives are looming, promised chief executive …
• 8 August

  Debit Usage And Spending Remain on the Rise, a Pulse Study Finds

  

  Consumers are using their debit cards more frequently than ever and generating higher tickets in the process, according to a report based on data from the Pulse electronic funds transfer network. Active debit card holders now use their cards 34.6 times per month on average, up more than 4% year …
• 8 August

  Priority’s Volume up 4.5% and other Digital Transactions News briefs from 8/8/24

  

  Priority Technology Holdings Inc., a payments provider, reported $15.8 billion in June-quarter bankcard processing volume, up 4.5% year-over-year. For the first half of the year, volume came to $30.6 billion, up less than 1%. Revenue for the company totaled $219.9 million for the quarter, up 21%. For the first half, …
• 7 August

  Greenlight And Google Team Up on a Spending App for Kids

  

  Greenlight Financial Technology Inc. has partnered with Google Wallet to enable its debit card to be loaded into the Google Fitbit Ace LTE smart watch. The partnership is expected to help parents teach their children how to manage their spending and finances through Greenlight’s banking app, the company says. The …
• 7 August

  How Global Payments Looks to ISVs, Payfacs, And M&A to Spur Growth

  

  Global Payments Inc. remains invested in growing by acquisition, but it’s equally committed to growth via third-party agents such as independent software vendors and payment facilitators, its chief executive said early Wednesday as he reviewed his company’s June-quarter results and discussed its strategies in the two markets it straddles—issuing and …