March 20, 2020
Competitive Strategies, Credit Cards, Debit Cards, Fraud & Security, Marketing, Point-of-sale, Transaction Processing
Chargeback Gurus released guidance on the potential for chargebacks as consumers and merchants contend with the effects of the coronavirus infection.Email-security firm Armorblox Inc. said it will provide its services free to companies with between 100 and 2,000 employees until April 30 to help guard against social-engineering attacks exploiting the Covid-19 pandemic.A cryptocurrency …
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March 19, 2020
Acquiring, Competitive Strategies, Credit Cards, Fraud & Security, Issuing/Originating, Point-of-sale, Pricing, Transaction Processing
Electronic Payments Inc. said it will temporarily suspend the monthly support fees for its TableTurn and Exatouch Point of Sale products for three months.JPMorgan Chase & Co. is temporarily closing 1,000 of its bank branches, or 20% of its network, because of Covid-19, according to press reports. The remaining open branches will …
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March 18, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Mobile Commerce, Mobile Wallets, Point-of-sale, Pricing, Transaction Processing
Payments providers are rallying support for small businesses, especially restaurants and hospitality merchants, contending with the effects of the coronavirus and urgent calls for social distancing. Just Tuesday, Nevada Governor Steve Sisolak ordered all casinos and other nonessential businesses, such as personal health and beauty businesses, to close for 30 days. …
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March 17, 2020
Acquiring, Competitive Strategies, Credit Cards, E-Commerce, Issuing/Originating, Marketing, Mobile Commerce, Point-of-sale, Transaction Processing
With the nation hunkering down to slow the spread of Covid-19, American Express Co. said Tuesday it expects its first-quarter revenues, adjusted for currency fluctuations, to grow only 2% to 4% year-over-year. In contrast, AmEx’s revenues net of interest expense rose 7% to $10.4 billion in 2019’s first quarter. In …
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March 16, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Issuing/Originating, Mobile Commerce, Point-of-sale, Transaction Processing
So, how much will Covid-19 have affected payment card dollar and transaction volumes when the card networks and merchant processors report their first-quarter financials beginning in about a month? At this point, it’s way too early to tell. An early read might come Tuesday when American Express Co. is scheduled …
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March 16, 2020
Acquiring, Automated Clearing House, Competitive Strategies, Credit Cards, Debit Cards, Fraud & Security, Law and Regulation, Point-of-sale, Prepaid Cards, Pricing, Transaction Processing
Nacha’s Smarter Faster Payments 2020 Conference has been canceled because of concerns related to the novel coronavirus. Nacha said it is trying to develop a free virtual event with select educational content. Next year’s conference is scheduled for April 25-28 in San Francisco.Dueling bills have been introduced in the Delaware Legislature that would …
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March 13, 2020
Acquiring, Competitive Strategies, Credit Cards, Issuing/Originating, Marketing, Person-to-Person Payments, Point-of-sale, Transaction Processing
Airport restaurant and retail operator OTG Experience LLC says it will be one of the first retailers to use Amazon.com Inc.’s “Just Walk Out” cashierless technology, the system that powers Amazon’s Amazon Go stores, when it opens a CIBO Express Gourmet Market next week in Terminal C of Newark Liberty International Airport.A technology …
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March 12, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Issuing/Originating, Marketing, Mobile Commerce, Point-of-sale, Transaction Processing
Payments provider North American Bancard LLC launched two new compensation programs for sales agents, including a restructured bonus program and a portfolio buyout program that includes an opportunity for qualified sales agents to have a portion of their residuals purchased.Processor Wirecard AG is partnering with point-of-sale credit specialist Klarna AB to integrate all of …
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March 11, 2020
Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Mobile Commerce, Point-of-sale, Transaction Processing
As consumers and businesses contend with the uncertainty spawned by the coronavirus outbreak, payments companies will feel the effects, perhaps more than they’ve already announced. Though neither of the two larger U.S. card networks—Mastercard Inc. and Visa Inc.—have updated their recent revisions to their financial guidance, some analysts suggest the impact …
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March 9, 2020
Competitive Strategies, Credit Cards, Debit Cards, Issuing/Originating, Marketing, Near-Field Communication (NFC), Point-of-sale, Prepaid Cards, Smart Cards
As the payments industry reeled Monday morning during yet another wild session on Wall Street, card manufacturer CPI Card Group Inc. provided a glimmer of hopeful news when it reported improving financials thanks in part to growing sales of dual-interface cards. Littleton, Colo. based CPI said fourth-quarter sales in its …
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