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- E-commerce sales accounted for 30% of the total spend in the second quarter, according to First Data Corp.’s “2018 Payments and Commerce Mid-Year Review.” Overall spending in the quarter increased 4.8% from the same quarter a year ago. By channel, in-store sales increased 4% and e-commerce increased 6.7%. The report also includes analysis of restaurant spending, growth categories, and regional sales data.
- Processor Stripe launched the Stripe Partner Program that provides companies like DocuSign, Shopify, WooCommerce, and Xero with access to documentation and best practices collected across the Stripe network. The effort is to help integrate Stripe into their systems.
- Financial-institution processor Fiserv Inc. said adjusted second-quarter revenues in its payments segment grew 8% year over year to $771 million. The company also said its transaction volume for the Zelle person-to-person payments service grew more than 40% over first-quarter volume, according to investment firm William Blair & Co.
- Fifteen percent of adults surveyed in the United Kingdom, United States, and Australia have made a payment authenticated by a biometric identifier in the past year, according to a study sponsored by Transaction Network Services (TNS). In the age 18-to-24 cohort, that percentage rises to 25%. But 61% fear that providing companies with their fingerprint and iris information puts their personal identity at risk.
- Some 86% of U.S. freelancers and independent contractors prefer digital payment, and 41% require it, according to a survey of 1,400 workers sponsored by Bill.com. Thirty percent say paying processing fees for credit card or PayPal payments is a “problem.”
- Cloud-based e-commerce software provider ChannelAdvisor Corp. said it will support the Shopping Actions program from Alphabet Inc.’s Google unit. Announced in March, Shopping Actions offers a universal shopping cart and instant checkout across various platforms such as Google.com and Google Assistant.
- Fundstrat Global Advisors said it is the first investment-research firm to accept Bitcoin. The firm is using Bitpay for processing.
- Blockchain deployments will save banks globally more than $27 billion in cross-border transaction settlement costs by 2030, Juniper Research projected. That will amount to a per-transaction savings of 11% compared to legacy systems, the firm said. It cautioned, however, that the need to run legacy systems in parallel with blockchain technology will slow the accumulation of savings such that annual cost reductions will not total $1 billion until 2024.
- Koomi, a cloud-based point-of-sale system developer, said its service is now available in the Square Inc. app marketplace.
- Bridg, a technology company specializing in customer-relationship management, announced its Bridg Customer Data Platform, which uses point-of-sale transaction data, combined with loyalty and ordering information, to create customer profiles to help brick-and-mortar merchants market to customers.
- Parking app developer ParkMobile LLC hired Matt Ball as its new chief technology officer. Ball worked for 15 years at Fifth Third Bank and most recently was vice president of global business solutions technology at First Data Corp.
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