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BNPL Displacing Store Cards and other Digital Transactions News briefs from 6/3/24
Buy now, pay later installment plans are displacing store cards among consumers, with 64% of debit card holders reporting they have been offered an installment plan online, up from 45% four years ago, according to The Payments Report from Auriemma Research. Meanwhile, 39% report they own a store card, down from 53% …
Read More »In the Cascade of Retailer Mobile Apps, Store Cards, Brand Strength Will Matter
By John Stewart @DTPaymentNews Not all private-label charge and prepaid card programs are equally successful, and so neither will be the proprietary mobile wallets recently launched by merchants. Factors that are likely to lead to a successful app include the strength of the retailer’s brand, its commitment to either convenience …
Read More »A Plug-in From Synchrony Brings Store Cards to Retailers’ Shopping Apps
By John Stewart @DTPaymentNews With consumers spending more and more time on retailers’ shopping apps, it was only a matter of time before merchants with proprietary charge card programs began offering a digitized version of those cards within their apps. On Monday, that time arrived as store card processor Synchrony …
Read More »Is GTCR a Worldpay Buyer? $1 Trillion in Digital Gift Cards; Apple Renews App Store Payments Appeal
Open Banking’s Threat to Cards; Eye on BNPL; Apple Objects to App Store Payment Changes
C-Store Acceptance Costs Rise; Gen Z’s Affection for E-Gift Cards; Checkbook Enlists Visa Direct
Nearly 60% of U.S. Storefronts Are Now Accepting Chip Cards, a Visa Update Shows
Some 2.7 million merchant locations, or 59% of U.S. storefronts, were accepting EMV chip cards as of December, according to the latest update from Visa Inc., issued Friday. That’s up from 392,000 locations in September 2015, just before the major card networks began enforcing a mandate for chip card acceptance. …
Read More »Holiday Shopping: Online Shift Accelerates As Chip Cards Dominate In Stores
The consumer shift to online shopping on Thanksgiving and the following Friday, known as Black Friday, continues to increase, now accounting for 29% of shopping on these two days compared with 25% a year ago, finds research from First Data Corp. Based on data from transactions at 1.1 million brick-and-mortar …
Read More »As July 4 Looms, Fireworks Stores Get Set for Hordes of Customers Armed With EMV Cards
As Independence Day nears with all its festivities, fireworks stores are preparing for their largest selling season of the year with EMV chip card acceptance. It evoked a sigh of relief from Bill Weimer, vice president and general counsel of Phantom Fireworks, when the company’s point-of-sale system achieved EMV compliance. …
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