Credit Cards

The major restaurant point-of-sale technology provider Toast Inc. early Wednesday reported revenues of $819 million for the first quarter of 2023, a 53% increase over the same period a year earlier. Recurring revenue for the quarter totaled $987 million, a 55% increase from a year earlier. In addition, Toast grew …

Real-time payment fraud is on the rise, even before the expected July launch of the Federal Reserve’s FedNow service. Some 71% of financial institutions reported an increase in consumer account takeover fraud using real-time payment networks from 2021 to 2022, according to a February and March survey of financial-institution executives internationally …

PayPal has been known for some time as a major alternative for checkout online, but now the company is making it plain it’s putting considerable resources behind checkouts where its services function entirely in the background. So-called unbranded checkout, led by the company’s Braintree processing platform along with a relatively …

Payrange Inc., a payments provider for the vending and unattended-retail market, announced it has acquired Vagabond, a cloud-based provider of business intelligence for the convenience-retail industry. Terms were not announced. Sales of contactless cards helped payment card manufacturer CPI Card Group Inc. increase overall first-quarter sales 8% year-over-year to $120.9 million, with sales …

Cantaloupe Inc. is rolling out Cantaloupe Go, a line of self-service apps and kiosks that rely on artificial intelligence to enable consumers to purchase products in self-service retail locations, such as micro-markets. Cantaloupe Go comprises Cantaloupe’s line of self-checkout kiosks. which vary in cost, features, and payment-acceptance capabilities; Smart Store …

Merchants’ price for accepting credit cards has remained steady for years, according to data released Monday by the Electronic Payments Coalition, an advocacy group representing the payment card industry. The EPC’s release comes as widespread and longstanding merchant complaints about the cost of card acceptance have sparked efforts by federal …

Shift4 Payments Inc. is still waiting on approval from European regulators to complete its $525-million Finaro acquisition, but in the mean time the Allentown, Pa.-based processor has been busy expanding in its home market. That expansion includes yet other acquisitions aimed at consolidating Shift4’s grip on the restaurant point-of-sale market, …

Payments provider Deluxe Corp. reported its first-quarter revenue dipped nearly 2% year-over-year to $545.4 million. Net income swooned from $9.7 million to $2.8 million owing to higher interest expense and a higher income-tax rate, according to the company. Revenue in its payments division, its second-largest unit after checks, rose 3.5% to $172 …

Fiserv Inc. has partnered with conversational-commerce platform provider Authvia to enable independent software vendors to offer a text-to-pay solution through Fiserv’s CardPointe gateway. The offering, which was developed in response to the growing use by businesses of tools to communicate with consumers via text and chat, allows businesses to bill, …

Businesses were quick to adopt online chat platforms as a handy meeting tool during the pandemic, and now payments providers are starting to target the services as a new venue for transactions. One of the first is GoDaddy Inc., which on Monday announced it is working with Microsoft Corp. to …