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- ABI Research forecasted the number of physical, instantly issued payment cards globally will grow to 471.1 million shipments in 2027 from 243.2 million in 2022.
- Citicorp’s Citi Retail Services unit introduced its Citi Pay line of services, with the first product consisting of Citi Pay Credit, a digital credit card. An installment-loan product will follow, the bank said.
- Point-of-sale system and services provider PAR Technology Corp. counted 68,100 restaurants using its services at the end of the first quarter. Revenue for the quarter was $100.4 million, a 25% increase from $80.3 million in the 2022 first quarter. It had a net loss of $15.9 million compared with a net loss of $15.7 million a year ago. Within the hotly contested restaurant segment PAR generated $68.6 million in revenue, a 16.7% increase from $58.8 million in the year-ago quarter.
- CardFree, a payments and loyalty platform, unveiled CardFree Checkout, aimed at restaurants and supporting acceptance of credit and debit cards, digital wallets, and gift cards.
- Rokt, an e-commerce technologist, launched Rokt Payments Marketplace, a service that presents relevant credit card and payment-related offers in a customizable and native placement on payment pages.
- Payments fintech Swivel Transactions LLC said it has launched payment reminder and acceptance technology through an integration with Eltropy, a communications platform for community banks.
- Zenfolio, a portfolio and Web site services provider for photographers, added PayPal as a payment option.
- Following a data breach, 43% of victims stopped associating with the brand, found a survey from Telesign, a digital identity verification service, of 1,000 U.S. adults.
- A new report from the Mastercard Economics Institute found that leisure and business travel are growing at the same pace, with leisure flight bookings up 31% in March compared to March 2019. Corporate flight bookings is on par.
- “Ease of money movement” ranks as a factor in driving overall customer satisfaction with online banks, according to a survey by J.D. Power.
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