News

May, 2024

• 13 May

  Consumer Delinquencies Are Piling up As Covid Stimulus Wears Off

  

  As the effects of the economic stimulus pumped into the economy by the federal government during the pandemic wear off, consumers are having a harder time paying their recurring debts on time. A study released Monday by Achieve, a San Mateo, Calif.-based provider of debt-management programs for consumers, reveals that …
• 13 May

  Eye on Restaurants: Digital POS Hasn’t Changed Tipping Much, Survey Says; Shift4 Acquires Revel

  

  More Americans are being asked to tip, but it doesn’t seem to have much positive impact for some workers, especially those employed by restaurants. Only 29% of these workers say their tips have increased in the past year, according to the “Beyond Gratuity: Perspective of Restaurant Staff Tipping Practices” report …
• 13 May

  Just 38 Developers Take Apple’s Offer and other Digital Transactions News briefs from 5/13/24

  

  Just 38 app developers have so far applied to Apple Inc. to enable payment processors outside of Apple’s proprietary payment system, the iPhone maker said. That’s out of 65,000 developers that were eligible to apply, according to Bloomberg. The report follows legal action that required Apple to make the alternatives available for apps. Ohio-based …
• 10 May

  Embracing digital payment options and fueling payment innovation in Canada

  

  Jon Purther, Director, Research, Payments Canada   The Canadian payment landscape continues to transform rapidly, fueled by shifts in consumer and business needs and expectations and technology innovations. Looking ahead, it’s clear that continued innovation will further expand choice within the Canadian payment ecosystem. The payment preferences of Canadians Canadians …
• 10 May

  EarnUp Launches a Text to Pay Option for Mortgage Lenders

  

  Text-to-pay technology received a boost late Thursday as San Francisco-based fintech EarnUp Inc. launched a text-to-pay app for mortgage lenders. The white-label app allows lenders to send text reminders of upcoming mortgage payments with an embedded link to make payments using a debit card. Consumers can initiate payment using Apple …
• 10 May

  Growth in Payments Helps Boost Middle-Market Processors, Too

  

  Payments processors haven’t had it easy in recent years, what with a pandemic-led shift to e-commerce on the part of brick-and-mortar merchants, a deluge of new and more complicated point-of-sale technologies, and growth by industry giants like Fiserv Inc. and Global Payments Inc. But many of the midsize players grew, …
• 10 May

  Mastercard Begins Domestic China Processing and other Digital Transactions News briefs from 5/10/24

  

  Mastercard Inc. has started processing card payments domestically in China, working with its partner NetsUnion Clearing Corp. (NUCC), China’s nationwide processing platform. Gift card and loyalty provider Factor4 completed an integration with commerce services provider Shopify Inc. that enables Shopify customers to sell and accept physical and digital gift cards in store and …
• 9 May

  Beyond payment acceptance – Leveraging APIs and open banking to provide more value

  

  By Steven Velasquez, Senior Vice President and Head of Partner Business Development – U.S. Bank | Elavon The emergence of open banking, financial services APIs, and banking as a service has changed the landscape of the payments ecosystem. It is no longer enough to offer integrated payments with your software …
• 9 May

  Shift4 Addresses Sale Rumors, Lays Out Strategic Plan During Q1 Earnings Call

  

  After months of speculation that Shift Payments Inc. was an acquisition target, company founder and chief executive and founder Jared Isaacman confirmed Thursday the company had indeed received multiple offers. The acknowledgment came at the outset of Shift4’s first quarter earnings call early Thursday. Despite the offers being “materially higher” …
• 9 May

  Behind Open Banking’s Growing Appeal to Consumers, Merchants—And Card Networks

  

  Open banking has been attracting the attention of bankers, merchants, and card networks. It’s also drawing notice from regulators. The concept of making a payment through a direct transfer from a bank account can appeal to consumers because it’s fast and easy, and to merchants because the transaction is reportedly …