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Checkout abandonment, particularly on smart phones, remains high, suppressing transaction volumes and prompting new payment options to enable a faster, smoother process when consumers are ready to buy. BlueSnap Inc., a Waltham, Mass.-based gateway, announced Tuesday an update to its Powered Buy Platform that aims to improve mobile and e-commerce …
Read More »Semi-Integrated POS Products Could Reduce EMV Certification Costs and Save Time
Independent software vendors, value-added resellers, and point-of-sale software developers facing the daunting task of certifying their unique products for EMV payment acceptance may face costs starting at $30,000. That figure, which comes from Andrey Tikhonov, senior director of payment technology at Elk Grove Village, Ill.-based Infinite Peripherals Inc., reflects the …
Read More »It’ll Be 14 Years Before Mobile Payments Are Secure To Leave Cash And Cards at Home
The prospect of leaving the house with just a smart phone in lieu of a wallet full of cash and payment cards is 14 years away, according to a survey released Thursday by the Institute of Electrical and Electronics Engineers (IEEE), a technology association based in New York City. By …
Read More »Eye on mPOS: Click a Waiter Debuts White Label POS; Aspex Lands Frontier Airlines
Two mobile point-of-sale system providers are doing their part in the proliferation of such systems with the release of Click a Waiter Inc.’s white-label POS system and Aspex LLC’s deal with Frontier Airlines to provide an onboard POS system. Leominster, Mass.-based Click a Waiter Tuesday released a white-label version of …
Read More »In Its First Earnings Report, Square Says Product Breadth Will Aid its Financial Fortunes
Processor Square Inc. expects its strategy of providing what it calls a “cohesive” set of services to merchants will aid its efforts to reach profitability, the company reported Wednesday in its first-ever earnings result since becoming a publicly-traded company. It reported earnings for the fourth quarter and all of 2015. …
Read More »CardFlight’s Stripe Integration Deal Aimed at Developers of In-App, Card-Present Payments
With an eye to easing the integration of EMV payment acceptance in mobile apps used for card-present transactions, mobile point-of-sale provider CardFlight now offers integration with Stripe, a payments provider specializing in online transactions. Developers can use the CardFlight software development kit and gateway to add EMV acceptance to apps …
Read More »ExxonMobil’s Speedpass+ App Enables Apple Pay Transactions at the Pump
Apple Pay has pulled up to the fuel pump at ExxonMobil Corp. gas stations with the release Tuesday of Speedpass+, an iOS app that enables consumers to use Apple Inc.’s mobile-payment service to pay for gas within the app. The app also is available for Android devices. It also works …
Read More »EMV Chargebacks Proving To Be a Card-Present Merchant Problem
Hiccups in the U.S. payment card industry’s monumental shift to EMV chip card technology are beginning to surface, and one problematic area is chargebacks among card-present merchants. That’s the observation from one large merchant-services provider, and it’s corroborated by a recent report from First Annapolis Consulting Inc. containing similar …
Read More »By 2020, 45% of Wearables Owners Will Use Them for Payments, Mostly Open-Loop
Payment with a wearable device, such as a smart watch, wristband, or fitness monitor, has the potential to be used by 45% of wearables-owning consumers by 2020, finds the IHS “Wearable Payment Devices Report—2016” issued Wednesday. In four years, the global market for wearables will reach 340 million devices shipped, …
Read More »Cash Remains Favored Person-to-Person Payment Option Even Among Millennials
Cash, it seems, remains king, especially among younger consumers who want to use person-to-person payments. Of the 1,000 18-to-34-year-old U.S. consumers surveyed, 58% prefer cash for their P2P payments, says GoBankingRates.com, a financial-services site that conducted the online survey in January. The popularity of cash, even among Millennials, for P2P …
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