Digital Transactions Authoritative, insightful and timely information for payments professionals
The world’s response to Covid-19 already has accelerated trends underway in the payments business, and pandemic-spurred innovations will continue after the contagion eases, according to three senior industry executives. “The impacts of Covid-19 represent a true global reset of the entire market, not just our payments market,” said Philip McHugh, …
May, 2020
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13 May
40% of Consumers Pledge To Shop Online More and other Digital Transactions News briefs from 5/13/20
Amid stay-at-home and social-distancing orders, 40% of consumers say they will shop online more in the future than in-store, while 45% are using a mobile wallet and 16% are using paper currency less, according to a survey of 1,030 consumers by Fidelity National Information Services Inc. (FIS). Some 31% will use …
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12 May
Eye on Acquirers: ‘Signs of Hope’ for Restaurants; ISO Parent Newtek Funds $700 Million in PPP Loans
Merchant processor Shift4 Payments LLC reported Monday it has seen a big jump in restaurant payments in the past week, and the parent company of independent sales organization Newtek Merchant Solutions says it has approved and funded $700 million in loans to small businesses under the federal government’s Covid-19 relief …
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12 May
Retail E-Commerce Sales Leap 209% and other Digital Transactions News briefs from 5/12/20
The general-retail sector of e-commerce saw a 209% increase in sales volume in April, topping all other retail sectors, according to numbers from ACI Worldwide Inc. Not surprisingly, ticketing (down 99%) and travel (negative 91%) topped the list of online sectors with declines.Cardlytics Inc., which plans marketing programs based on intelligence gathered …
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11 May
Green Dot’s New CEO Sees Its Bank as Key to Overcoming the Challenge from Challenger Banks
Green Dot Corp. chief executive Dan Henry has only been on the job for about six weeks, but on Monday he was emphatic about one thing: The prepaid card and payments specialist is going to hold on to one particular and—in the view of Henry—very valuable asset. “We are not …
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11 May
Eye on Merchants: Debit Spending Increases And Clover Adds Online Ordering
The Covid-19 impact continues to make itself known in the payments arena. Consumers are increasingly favoring debit cards, especially now that many have received $1,200 stimulus payments. And merchants using the Clover point-of-sale system now have access to online ordering on the platform. Consumers increased their debit card spending 6.6% …
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11 May
USA Technologies Picks New CEO and other Digital Transactions News briefs from 5/11/20
USA Technologies Inc. named Sean Feeney chief executive officer, effective May 8. Feeney most recently was CEO of DefenseStorm Inc., a provider of cloud-based cybersecurity management for financial institutions. USAT processes payments for vending-machine operators. Hudson Executive Capital, USAT’s largest shareholder, recently installed eight new directors on the company’s board after winning …
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8 May
EVO Payments Says Inactive Merchants Coming Back to Life During Nascent Economic Revival
After suffering through a 40% year-over-year decline in payment volume because of the Covid-19 pandemic, merchant processor EVO Payments Inc. says many merchants that went dormant are generating transactions again. Atlanta-based EVO’s active merchant count declined by about 35% during the worst part of the pandemic-induced business slowdown in mid-April, …
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8 May
TRANSACT Connect – Virtual Environment, Real-World Benefits.
The meaning of meetings has changed. In-person contact is so vital to the payments ecosystem – not only in the way some of its products are used, but also in the way that those products are sold to merchants, and industry partnerships are formed. The Electronic Transactions Association, producers of …
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8 May
Square’s POS Reputation May Aid Its New Online Checkout Button
Square Inc.’s new online checkout button—a product called Square Online Checkout—likely will get a boost in adoption from the company’s nearly 10-year history of providing payments technology for point-of-sale merchants. The new service enables Square merchants to place a buy button on Web sites and anywhere a link can be shared, …