Digital Transactions Authoritative, insightful and timely information for payments professionals

October, 2020

• 9 October

  Eager Consumers Buoy Transaction Volume for Eateries And Hotels, Shift4 Data Shows

  

  Seasonal expectations of a September slowdown in payment volume failed to fully materialize, suggests new data from Shift4 Payments Inc. Its data shows that payment volume was relatively consistent through August and September in most of the country. Though the hospitality segment continues to experience lower transaction volumes compared to the …
• 9 October

  Columbia Sportswear Processing with Adyen Now and other Digital Transactions News briefs from 10/9/20

  

  Adyen NV said it has become the primary payments provider for Columbia Sportswear Co., an apparel retailer.Fireblocks Inc. announced it will supply wallet and network-infrastructure products as its client Revolut Ltd. launches new cryptocurrency services for its 13 million global users.Fraud-prevention technology provider Feedzai Inc. reported a strong first half as fraud attempts rose …
• 9 October

  As a Deadline Nears, TNS Offers Deferred Payments for Installing EMV at the Pump

  

  With gas stations and convenience stores feeling the economic pinch from the slowdown in sales caused by the Covid-19 pandemic and uncertainty over the economy, Transaction Network Services Inc. announced a new pricing structure to help cut station owners’ telecom-network installation costs for EMV at the pump. Transaction Networks Services (TNS) …
• 8 October

  Infection Fears Could Give a Boost to a ‘Reverse ATM’ That Takes in Cash, Dispenses Cards

  

  With cash on the outs with many pandemic-wary consumers and merchants these days, payments firms are looking for alternatives. One such option is a so-called reverse ATM, a machine that takes in cash instead of dispensing it to allow users to convert paper money into an electronic payment instrument. An …
• 8 October

  As Consumers Turn to Digital Options, POS Lending Finds a Receptive Market, TransUnion Says

  

  Consumers are significantly increasing their use of digital channels when engaging with lenders, says research from TransUnion LLC released Thursday. That trend includes point-of-sale lending, which is rising fast during the Covid-19 pandemic, according to the study. Since the pandemic hit the United States in March, 40% of consumers have …
• 8 October

  Expect Strong 4Q Credit Card Use and other Digital Transactions News briefs from 10/8/20

  

  New research from Kount Inc. showed that 57% of consumers expect to use credit cards as their payment choice in the 2020 holiday season. That compares with merchants who expect credit cards to be used 84% of the time. Debit card use is closer, at 65% for consumers and 70% for merchants. …
• 7 October

  Fueled by Covid-19, Fiserv Says It Has Linked 200 Financial Institutions to Zelle in 2020

  

  Fiserv Inc. has onboarded 200 banks and credit unions to the Zelle peer-to-peer payments network since the start of the year, doubling the number of financial institutions it has brought into the network since 2017. Of the 200 financial institutions, more than 80% have gone live since March, when the …
• 7 October

  Fast-Growing Shopify Adds a Crypto-Fiat Hybrid Payment Gateway From Alchemy Pay

  

  Shopify Inc., an e-commerce payments and marketplace platform that accounts for more U.S. e-commerce sales than any other company besides Amazon.com Inc., is adding a gateway that will allow consumers to pay for products from Shopify online stores using a choice of digital or fiat currencies. The so-called hybrid service …
• 7 October

  Pizza King Switches to Revel POS System and other Digital Transactions News briefs from 10/7/20

  

  Cloud-based point-of-sale maker Revel Systems said restaurant chain Pizza King will use the Revel Enterprise POS system across its 49 locations, including payment processing via Revel Advantage. Pizza King also will use Revel’s technology for integrations with an employee scheduling application and a gift card provider.ParTech Inc. introduced PAR Payment Service. Designed for …
• 6 October

  A Survey Quantifies How Consumers Are Displacing Cash in Favor of Cards

  

  Consumers are replacing cash with payment cards during the Covid-19 pandemic, according to the “Purchasing in a Pandemic” report issued by Visa Inc. and consultancy The Strawhecker Group. Among the findings is that 26% of respondents expect to use less cash following the pandemic when compared to before. That, coupled …