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- A Wichita, Kan.-based restaurant chain will settle for more than $60,000 a case alleging it illegally added 4% surcharges on credit card transactions, The Wichita Eagle reported. Kansas is one of the four states that prohibit credit card surcharging.
- Big U.S. banks are providing the best payments-acceptance experience for merchants, but non-banks such as PayPal Holdings Inc. and Square Inc. are close behind, according to the “2020 U.S. Merchant Service Satisfaction Study” from J.D. Power.
- Merchant acquirer EVO Payments Inc. reported 2019 revenue of $485.8 million, down from $564.8 million in 2018, owing to the adoption of ASC 606, an accounting rule for revenue recognition. Adjusted revenue for 2019 was $598 million, the company said.
- Payments provider ACI Worldwide Inc. reported 2019 revenue of $1.26 billion, up 25% over 2018, though excluding the company’s Speedpay acquisition results in revenue growth of 2%. Net income dipped to $67 million from $69 million.
- 7-Eleven Inc. opened two more locations to test new retail services, including mobile checkout using the 7-Eleven app to skip the checkout counter.
- Chargebacks911 launched a new onboarding product that enables its partners to connect their merchants to the Chargebacks911 platform via an existing service provider.
- Bluefin Payment Systems LLC said it will provide its point-to-point encryption services to processor Payscout for use with Payscout merchants.
- Paysafe said it formed a partnership with Celero Commerce to support Celero’s independent sales organizations as they expand into regulated online commerce verticals. Celero’s portfolio already includes approximately 25,000 merchants.
- The global coronavirus outbreak will trim one percentage point off of a year-over-year first-quarter revenue growth projection released Jan. 29, PayPal Holdings Inc. said.
- Payments provider Beyond promoted Brent Rose to chief sales officer, where he will oversee more than 300 sales representatives and four product divisions. He joined Beyond in 2017.
- Digital wallets will account for half of the $5.9 trillion in global e-commerce volume predicted for 2023, according to forecasts in a report from Fidelity National Information Services Inc. and its Worldpay payment-processing unit.
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