Digital Transactions Authoritative, insightful and timely information for payments professionals
- The share of all payments using cash declined only modestly to 18% in 2022 from 20% in 2021, while the share of in-person and person-to-person payments has stayed constant at 81%, according to the Diary of Consumer Payment Choice from the Federal Reserve System’s FedCash Services.
- Sunmi Technology Co., a China-based point-of-sale terminal maker with offices in the United States, previewed its third-generation POS terminal, the V3 MIX, over the weekend at the National Restaurant Association show in Chicago.
- Payments provider ACI Worldwide Inc. said it will support Swift Go for real-time cross-border transfers. Swift Go is a product of SWIFT, the Belgium-based international provider of transaction services.
- Payments-technology provider XTM Inc. announced its intent to acquire QRails Inc., a platform for prepaid payments and earn-wage access. Terms were not announced.
- Identity-verification company Onfido announced it has acquired Airside Mobile Inc., a maker of technology for digital-identity sharing. Terms were not released.
- In an email to Digital Transactions News, J.P. Morgan Payments said it hired John Frerichs as head of SMB Payments. Frerichs, according to his LinkedIn profile, had been vice president of global SMB payments at PayPal Holdings Inc. from April 2022 to March 2023. Prior to then Frerichs worked at Chase and WePay Inc.
- Aaron Stetter has joined the Electronic Payments Coalition as executive director. Stetter comes to the advocacy group from the Independent Community Bankers of America, and served as EPC’s chairman from 2015 to 2016.
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