Digital Transactions Authoritative, insightful and timely information for payments professionals
Mastercard Inc. announced Amazon.com Inc. will start using tokens to replace actual customer card data throughout 2020. Tokenization replaces actual card data with data strings that are meaningless to outside parties. The process also permits automatic credential updating when cards expire.Payments card standards body EMVCo made it official—consumer-facing online-payment checkout options based on …
June, 2020
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16 June
Eye on POS Systems: Lightspeed Adds E-Commerce Features and Revel Augments Online Ordering and Other Features
In the wake of Covid-19, merchants continue to see more features added to cloud-based point-of-sale systems. In the latest updates, Lightspeed POS Inc. introduced on Tuesday new e-commerce services, including shipping, curbside pick-up, and appointment setting. And Revel Systems Inc. has refined its online ordering and order-pickup management. First up, …
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16 June
Square’s PPP Lending and other Digital Transactions News briefs from 6/16/20
Merchant processor Square Inc. said that as of June 10 its Square Capital service had facilitated more than $820 million in Paycheck Protection Program loans to 76,000 small businesses since April 29. PPP loans are part of the federal government’s stimulus program to combat the economic downturn caused by the Covid-19 pandemic.In …
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15 June
It’s Goodbye Cards, Hello Electric Cars for Publicly Traded Processor Net Element
Merchant processor Net Element Inc. has a letter of intent to merge with Mullen Technologies Inc., a privately held startup that plans to sell Chinese-made electric sports cars in the U.S. The pending deal, announced Monday, requires Net Element to divest its payment-processing business. The so-called “reverse triangular merger” is …
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15 June
Cardtronics Sees a Recovery in U.S. ATM Cash Withdrawals as States Reopen
Volume in some of its foreign markets is still way down as a result of the Covid-19 pandemic, but leading non-bank ATM network operator Cardtronics plc reported Monday that same-store U.S. cash-withdrawal transaction volumes were off only 3% in the first half of June from a year earlier. PSCU, a …
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15 June
AmEx Scores a First as China Approves Its Processing License
American Express Co. has become the first foreign payments company to be approved to clear domestic transactions in mainland China. The move comes with approval of a network clearing license over the weekend from the People’s Bank of China for Express Technology Services Co. Ltd., an AmEx joint venture with …
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15 June
Paysafe’s Skrill Adds Loyalty Program and other Digital Transactions News briefs from 6/15/20
Paysafe Group said it has expanded its Knect loyalty program for its Skrill digital wallet to the U.S. market. The program offers points that can be redeemed for cash when users perform transactions using the digital wallet or a linked Skrill Visa prepaid card. Last week, Paysafe launched its Skrill Money Transfer service …
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12 June
Panasonic Will Add PopID’s Facial Recognition And Payment Capability to Its Kiosk App
Restaurants using Panasonic Corp. of North America’s kiosk systems will have a new option for their consumers to order and pay, while limiting their contact, with the integration of facial recognition and payment technology from PopID Inc. Announced Thursday, the integration with the Panasonic ClearConnect Kiosk app means Panasonic and …
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12 June
JotForm Adds PayPal Commerce Platform Integration and other Digital Transactions News briefs from 6/12/20
JotForm, a developer of online forms for businesses, announced an integration with the PayPal Commerce Platform allowing clients to accept credit card payments, transfers between PayPal accounts, and PayPal Credit financing options.Corporate-payments software provider Coupa Software Inc. said it has acquired Bellin Group, a vendor of treasury-management technology. Terms were not announced.With the popularity …
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12 June
COMMENTARY: How a Global Pandemic Changed Payments
COVID-19 has shaken the global economy. Social distancing has drastically shifted consumer behavior and introduced a new set of challenges to stores and shoppers alike. For merchants, it has been difficult to manage a dip in discretionary spending, a rapidly increasing number of online shoppers, and an explosion of competition …