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- Commerce platform Shopify Inc. reported $2.4 billion in global Black Friday sales, a 75% increase from 2019. Black Friday is the Friday following Thanksgiving. Mobile sales accounted for 68% of U.S. transactions and desktop, 32%. Top U.S. cities were New York, Los Angeles, and Vernon, Calif. The average ticket of $93.80 was up 7.2% from $87.50 in 2019. The top five product categories were apparel and accessories, health and beauty, home and garden, electronics, and media.
- Many consumers—62%—plan on using one credit card while shopping this holiday season, found the Generali Global Assistance Holiday Shopping ID Theft survey released in conjunction with Mastercard Inc. A majority of consumers, 86%, plan to do their holiday shopping online, up from 21% last year. The survey canvassed 1,003 U.S. adults Oct. 30-Nov. 1. Generali Global Assistance provides identity and cyber protection services.
- Payments-technology provider ParTech Inc. said it has added payments-gateway processing from FreedomPay for restaurant clients using ParTech’s Brink POS software.
- Payments provider Lightspeed POS Inc. announced it has closed on its previously announced acquisition of point-of-sale technology provider ShopKeep Inc. Final terms included $145.2 million in cash plus subordinate voting shares in the capital of Lightspeed.
- Square Inc. has agreed to pay $50 million in cash to acquire Credit Karma’s tax-filing technology. The service will be rolled into Square’s Cash App payments application.
- Computer Services Inc. said it and Featurespace are launching WatchDog AML, an anti-money laundering service.
- The Anti-Phishing Working Group released its 3rd Quarter 2020 report that found software-as-a-service and webmail sites were most frequently targeted, at 31.4% of all attacks. Next highest were financial institutions at 19.2% and payment sites at 13.4%.
- Mastercard Inc. said it has introduced a mobile virtual corporate card. The new product comes from a collaboration with Extend Enterprises Inc., a provider of payments technology for financial institutions, and TSYS, a payments processor owned by Global Payments Inc.
- LeoVegas, a mobile-payments app for gaming, said it will be the first in the gaming industry to allow users to directly access their bank accounts through the open banking provisions of the Second European Payment Services Directive (PSD2).
- American Express Co. launched a program that works with Strive for College, a nonprofit that matches high-school students with mentors who help with college decisions. AmEx will cover the $40 background-check fee for U.S. consumer cardholders if they sign up to be a mentor by Dec. 31.
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