Digital Transactions Authoritative, insightful and timely information for payments professionals

October, 2020

• 12 October

  Amazon Prime Day Will Generate Nearly $10 Billion in Sales in an E-Commerce Extravaganza

  

  After a more than two-month delay, Amazon Prime Day is poised to officially kick off early Tuesday. The two-day event, which was created to boost Prime memberships, will generate $9.91 billion in sales worldwide for Amazon, up 43% from last year’s event, according to the latest forecast from research firm …
• 12 October

  Shift4 Adds an Ordering Capability to Its QR Code Technology for Restaurants

  

  Shift4 Payments Inc. on Monday announced it is expanding its Quick Response code capabilities for restaurant clients to include an ordering function. Customers will now be able to scan a QR code displayed by the eatery to bring up a menu and to place an order, the Allentown, Pa.-based processor …
• 12 October

  BMO Adopts TCH’s RTP and other Digital Transactions News briefs from 10/12/20

  

  BMO Financial Group, a unit of Bank of Montreal, announced it has linked to The Clearing House Payments Co. LLC’s Real-Time Payments network, enabling U.S. business clients to receive funds instantly from any sending bank connected to the network.ACI Worldwide Inc. said its Speedpay unit will allow customers of Entergy Services LLC, a …
• 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 …