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Apple Inc.’s long awaited tap-to-pay on iPhone technology is now live with Adyen NV merchants Vince, Burton, G-Star, and Scotch & Soda. The technology enables merchants to accept face-to-face payments using iPhones without special point-of-sale acceptance hardware. Consumers can use almost any near-field communication-enabled device, such as another iPhone, Apple …
Read More »Contactless Payment Cements Itself in Transit Payments
Transit riders have made one aspect of their mobility routines abundantly clear. They want to use contactless payments to pay as they commute to work or ride to the beach. A full 91% of transit users in the second Future of Urban Mobility Survey from Visa Inc. either strongly or …
Read More »As Amazon’s Prime Day Shopping Spree Nears, Overall Consumer Spending Grows
In-store sales growth continued to outpace that of online shopping in June, though e-commerce sales may get a big boost next week. According to the Mastercard Inc. SpendingPulse report, in-store sales increased 11.7% last month over June 2021, and were up 10.7% from June 2019. And, while e-commerce sales experienced …
Read More »Amid a Bitcoin Pricing Collapse, Coinbase Trims Its Staff
The steep drop in the value of Bitcoin made itself felt Tuesday at Coinbase when the crypto exchange’s boss announced an 18% cut in its workforce. The 10-year-old company had more than 4,900 employees, according to its Web site. That’s about 880 employees affected by the layoff, though some reports …
Read More »Mastercard Will Tackle Biometric Payments at the Point of Sale, Sans Card or Phone
Mastercard Inc. says the future of payments at the point of sale includes the ability to make a point-of-sale payment using a facial image without having to present a credit or debit card or a mobile device. Under its new Biometric Checkout Program, Mastercard has begun testing the service, the …
Read More »Stabilization May Be Acquiring’s Keyword in 2022
As the U.S. economy moves farther from the worst of the Covid pandemic, credit and debit card spending may be stabilizing, according to new data from The Strawhecker Group, a payments advisory and research firm. Released as part of the AIM Headline Report series, the Growth & Inflation Analysis 2022 …
Read More »Nettlesome Chargebacks Prove Vulnerable to Mitigation Efforts, a Report Finds
There’s a bit of apparent good news when it comes to chargebacks. The chargeback-to-transaction ratio decreased from 1.94% in 2020 to 1.52% in 2021, and is also down from the remarkable 3.76% seen in 2017. That’s according to the fourth annual “The Year in Chargebacks Report” from Midigator LLC, a …
Read More »Half of Consumers Consolidate Their Financial Accounts into a Single View
Only 50% of consumers in a new MX Technologies Inc. report say they have used a single digital tool to view multiple financial accounts in one view. That means the other half has yet to do so, MX says. Lehi, Utah-based MX specializes in technology that provides access to divergent …
Read More »The Absence of Interest Charges Is What Tweaks Consumer Interest in BNPL Services
The buy now, pay later trend continues to solidify into a permanent part of the payments arena, thanks to consumers who readily adopt the installment-payment service. Now, new research finds that many—82%—are drawn to it because they do not have to pay interest for the installment-payment benefit. New research from …
Read More »Adyen Poised To Offer Tap to Pay on iPhone To U.S. Merchants
Processor Adyen NV is poised to be among the first to offer Apple Inc.’s Tap to Pay on iPhone service to U.S. merchants. Sometime later this year the service will launch, enabling compatible iPhones to accept contactless payments without the use of additional hardware or payment terminals. Announced in February …
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