Digital Transactions Authoritative, insightful and timely information for payments professionals

August, 2020

• 5 August

  Digital Services And Clover Help Fiserv Return to Growth in the Wake of a ‘Tumultuous’ Covid Impact

  It’s been an eventful summer so far for Fiserv Inc., which was hammered by the recession caused by the Covid-19 pandemic but in July began to regain its footing, according to top executives who spoke Wednesday afternoon. Revenue for the Brookfield, Wis.-based payments processor dipped 1% in June but began …
• 5 August

  Restaurant POS System Provider TouchBistro Acquires Loyalty Tech Developer TableUp

  

  TouchBistro Inc., a software developer for iPad POS systems in restaurants, on Wednesday announced the acquisition of loyalty marketing application provider TableUp. Terms of the deal were not disclosed.  The acquisition was driven by restaurant requests for ways to market and offer customer incentives to return as restaurants begin reopening …
• 5 August

  Square Cash Card Users Double and other Digital Transactions News briefs from 8/5/20

  

  Square Inc. posted its second-quarter results and held an earnings call hours earlier than originally scheduled owing to what Square called “early external access to the company’s quarterly financials.” Net revenue climbed 64% year-over-year to $1.92 billion. Square posted a net loss of $11 million compared to a negative $7 million last …
• 4 August

  Green Dot Starts to Realize the Fruits of Its New CEO’s Insistence on Keeping Its Bank

  

  Green Dot Corp. may be starting to show the fruits of new chief executive Dan Henry’s insistence on holding on tightly to the company’s bank and making it a linchpin of his strategy. The Provo, Utah-based institution, which Green Dot acquired in 2010, is key to three major card and …
• 4 August

  Consumers Would Switch Merchants for a Contactless Payment Option, Says a Visa Survey

  

  Contactless payments apparently have sway with U.S. consumers. Fifty-four percent of them would switch to a new store that offers contactless payments, according to a global survey by Visa Inc. measuring changes in payments habits in the face of the Covid-19 pandemic. The effects of the pandemic, and the resulting …
• 4 August

  E-Commerce Helps Buoy FIS as Merchant Volumes Post Positive Growth Rates Again

  

  FIS Inc. had only begun to digest the massive processor Worldpay, which it acquired in July last year, when the global Covid-19 virus broke out, leaving the company on Tuesday to report a challenging second quarter marked by a significant hit to its newly integrated merchant-processing business. Still, given the …
• 4 August

  Money 20/20 Canceled, Returning in 2021 and Other Digital Transactions News Briefs from 8/4/20

  

  Money 20/20, set for Oct. 25-28 in Las Vegas, has been canceled. Dates for the 2021 event are Oct. 24-27 in Las Vegas, which will mark the 10th anniversary of the payments conference. Citing the impact pf the Covid-19 pandemic, organizers also canceled Money 20/20 Europe.Oto Analytics Inc.’s commerce platform …
• 3 August

  Processor Paya Will Go Public Via a So-Called SPAC Merger

  

  Payments provider Paya Inc. today announced a merger with special acquisition merger company (SPAC) FinTech Acquisition Corp III. The merger is being consummated as part of Atlanta-based Paya’s plans to take the company public. Currently, the company is owned by private-equity firm GTCR LLC.  Because Fintech Acquisition is already a …
• 3 August

  Global Payments To Use AWS for Issuer Services and other Digital Transactions News briefs from 8/3/20

  

  Global Payments Inc. announced a multiyear agreement with Amazon.com Inc.’s Amazon Web Services to offer cloud-based issuer processing to financial institutions globally. AWS services in the deal will include storage, compute, database, security, analytics, and machine learning. For the second quarter, Global reported $1.52 billion in adjusted net revenue, down 14% year-over-year compared …
• 1 August

  Apple’s Mobeewave Deal Could Turn iPhones Into No-Dongle POS Devices—Just Not Right Away

  

  Apple Inc. has reportedly acquired technology that enables smart phones equipped with near-field communication to act as point-of-sale devices with no other hardware. In the deal, news of which broke as the weekend began, the Cupertino, Calif.-based iPhone maker has bought Mobeewave Inc., a 9-year-old technology firm based in Montreal. …