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- German payments provider Wirecard, which entered the U.S. market in 2016, filed for insolvency, it announced Thursday, following the disclosure last week of more than $2 billion in disputed cash. It is evaluating whether insolvency will be filed for its subsidiaries.
- In an update, Mastercard Inc. reported its switched transaction volume recorded a 1% increase in the week ending June 21 compared to the same week a year ago, the first increase in several months and a significant improvement from the 12% decline notched the week ending May 7. The update, which is also included an 8-K filing, does not state the absolute figures.
- Square Inc. announced On-Demand Delivery for Square Online Store, which allows sellers to send couriers with orders placed on their Web sites. The first delivery partner is Postmates, with more to follow, Square said. Processing for the service is free through July 8, with a cap of $50,000 in sales. Square is waiving dispatch fees until July 1.
- Health Smart Financial Services Inc., which does business as PayBright, said it has launched its installment-payment plans at the point of sale in Canada through an integration with iQmetrix. a provider of POS and retail-management software.
- Research from PayPal Holdings Inc. indicates 29% of U.S. consumers with access to credit card rewards are tapping rewards balances to help pay for necessities. Groceries are the most popular category, with 40% of those using rewards indicating they have used them for these purchases. Gift cards, at 37%, come in second. The results are based on a survey in late April of 1,543 credit card users enrolled in at least one rewards program.
- Fifty-seven percent of consumers said curbside pickup, grocery delivery, and contactless payments led them to purchase goods or services from a local business for the first time, found a survey from Podium, a customer message platform. One thousand U.S. consumers responded to the survey in May.
- Nearly half of U.S. consumers don’t recognize the contactless symbol on their credit cards, though more than one-third are using contactless payments, including mobile payments, more often now because of the pandemic, according to an online survey of 1,041 consumers by CompareCards June 2-3.
- Vending machine payments provider USA Technologies Inc. unveiled Remote Price Change for its Seed software suite, the new service enables operators to change prices for items in a vending machine at any time without a technician going to the machine.
- The New York State Department of Financial Services proposed what it calls a “conditional licensing framework” to make it easier for virtual currency start-ups to enter the New York market.
- FIS Inc. said it is working with FICO, a credit score service, on an anti-money laundering service for financial institutions called FIS AML Compliance Manager.
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