Digital Transactions Authoritative, insightful and timely information for payments professionals

August, 2020

• 7 August

  With a Compliance Deadline Looming, Technology Emerges to Ease Gas Pump EMV

  

  Sound Payments Inc., a multichannel technology provider that offers point-of-sale solutions for the petroleum industry, expects its partnership with National Retail Solutions, a subsidiary of IDT Corp., to accelerate adoption of EMV at in-pump card readers among independent gas stations and convenience stores. Sounds Payments argues its EMV in-pump card …
• 6 August

  FedNow Looks to Pilots Starting Next Year And Sticks to Its 2023 Or 2024 Launch Plan

  

  While the Covid-19 pandemic has raised the issue of speeding stimulus payments and other relief to consumers and businesses, The Federal Reserve system is staying with its planned 2023 or 2024 launch date for its FedNow real-time payment service, officials said Thursday in an update that comes almost exactly one …
• 6 August

  As It Recovers From Covid-19 Shock, Shift4 Looks to Grow Its End-to-End Processing Business

  

  The Covid-19 pandemic has taken a fearful toll on payments processing, and on Thursday, in its first earnings call as a publicly held company, Shift4 Payments Inc. proved it’s no exception. Stay-at-home orders and business shutdowns, with tentative reopenings, clipped the company’s full-service, lucrative end-to-end payment volume in the June quarter …
• 6 August

  Lightspeed’s Revenue Jumps 51% and other Digital Transactions News briefs from 8/6/20

  

  Payments provider Lightspeed POS Inc. reported revenue jumped 51% year-over-year in the June quarter to $36.2 million. Its net loss widened to $20.1 million from $9.1 million. Total gross payment volume increased 17% to more than $5.4 billion.Lightspeed also announced the U.S. availability of Lightspeed Capital, a financing service for merchants.Payments provider ACI Worldwide …
• 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 …