Digital Transactions Authoritative, insightful and timely information for payments professionals
Paying with a card is very popular with consumers. They love the convenience and security of not carrying cash. For merchants, however, these payments come with a price: Processing fees. Getting paid with plastic often means merchants have to pass that expense on to their consumers. Even with low-rate accounts, …
December, 2024
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3 December
Strong Monday Sales Cap a Strong Start to the Holiday Shopping Season
Online sales continued to surge on Cyber Monday, totaling $13.3 billion and up 7.3% from Cyber Monday last year, according to Adobe Digital Insights. During the peak shopping hours of 8 p.m. to 10 p.m., consumers spent $15.8 million per minute. Cyber Monday capped a strong five-day sales period from …
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3 December
46% of SMBs Using Credit Cards Are Better Off Now Than a Year Ago
The latest J.D. Power U.S. Small Business Credit Card Satisfaction Study finds that 46% of small businesses that use credit cards say their financial state is better than it was a year ago, with most—49%—describing it as about the same. The study delved into how small businesses use credit cards, …
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3 December
Evolv Acquires EnzoPay and other Digital Transactions News briefs from 12/3/24
Payments acceptance provider Evolv Inc. said it will acquire payments provider EnzoPay and rename it Evolv Mid-Atlantic. Terms were not disclosed. The Fiserv Small Business Index dropped two points to 144 in November from October. Year-over-year small business sales increased 4.8% and total transactions were up 9.1%. Month-over-month sales were down 1.6% and transactions …
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2 December
Year in Review: North’s 2024 Evolution
At the end of a packed year, it’s always worthwhile to take a beat and reflect. 2024 was full of events both difficult and inspiring. For example, the late Fall devastation wrought by Hurricanes Helene and Milton in the southern United States gave way to uplifting stories of communities banding …
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2 December
How Holiday Sales Are off to a Strong Start
Online shoppers spent a record $10.8 billion on Black Friday, a 10.2% increase from a year ago, according to preliminary data from Adobe Digital Insights. Online shoppers were especially active between 10 a.m. and 2 p.m. on Friday, spending $11.3 million per minute during that period. Products seeing the strongest …
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2 December
Why Small Businesses Are Drawn to AI for Payments
Artificial intelligence emerged last year as a trending technology in payments, and now differences are starting to emerge in how businesses are viewing and deploying the technology, with small businesses showing the most enthusiasm, a new report from the big Atlanta-based processor Global Payments Inc. shows. In fact, some 94% …
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2 December
Lightspeed Reorg Cuts 200 Employees and other Digital Transactions News briefs from 12/2/24
Point-of-sale systems maker Lightspeed Commerce Inc. announced a reorganization that will “impact approximately 200” employees. The savings from the move will be “redeployed” to other, unspecified areas of the company, Lightspeed said. Processor Priority Technology Holdings Inc. has filed a shelf registration statement with the Securities and Exchange Commission. The move will allow the …
November, 2024
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27 November
The U.S. Is Number One…in Breached Card Details
A new report from Surfshark, a provider of virtual private network services, finds that the United States far outpaces the top nine other major economies when it comes to the rate of breached payment card details. Based on 5.7 million payment card data points that have been compromised since 2004, …
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27 November
Illinois’s Interchange Law Will Distort Card Payment Economics, a Report Says
If the Illinois Interchange Fee Prohibition Act survives the legal challenges it faces, the law would “create significant market distortions,” says a recent report from the International Center for Law & Economics, a Portland, Ore.-based nonprofit research and policy center. Some of the most significant impacts on the market, according …
