E-Commerce

POSaBIT, a point-of-sale services provider for cannabis retailers, said an analysis of “hundreds of thousands” of transactions at more than 120 California, Washington, and Colorado stores found that consumers belonging to a cannabis retailer’s loyalty rewards program had a 28% higher average ticket value and visited the store more frequently …

Transaction and dollar volume for Priority Technology Holdings Inc. managed to grow in the first quarter despite the downsizing of the merchant processor’s formerly large online subscription-billing business. Alpharetta, Ga.-based Priority reported Monday that merchant bank card processing volume rose 8.8% to $9.9 billion versus $9.1 billion in 2018’s first …

SurchX, a surcharging specialist, launched SurchX for e-commerce platform Magento. SurchX automatically calculates surcharges and fee structures based on card type and jurisdiction. The fee can be passed on for the consumer to pay. Payments provider ACI Worldwide said its real-time payments technology is supporting BMO Financial Group’s efforts to …

Cardlytics Inc., a company that uses purchase data to help financial institutions manage their rewards programs with retail partners, reported its count of monthly active users reached 108.5 million in the first quarter, up 85% over the first quarter of 2018, as users from new clients JPMorgan Chase & Co. …

Bank of America Corp. is considering not renewing its merchant-acquiring joint venture with First Data Corp., known as Bank of America Merchant Services, when the contract ends in June 2020, The Wall Street Journal reported, citing unnamed sources. BAMS is the nation’s third-largest acquirer, having processed $840 billion in payment …

An automated clearing house network rule tightening security around Internet purchases, one of the ACH’s fastest-growing transaction categories, is set to take effect Jan. 1. The rule change, technically an amendment, affects so-called WEB debits, which cover a wide variety of ACH-funded Internet payments. It will require merchants as ACH …

Visa Inc. closed on its acquisition of Earthport, a provider of cross-border payments services. The card network says it expects the acquisition to allow it to access “the vast majority of the world’s banked population” to allow them to move money globally. Earthport earlier this year had been the object …

NACHA said automated clearing house volume in the first quarter totaled 6 billion payments that included 3.5 billion debit transactions and 2.5 billion credit transactions. Internet-initiated payments increased 10.3% to 1.6 billion. Same-day ACH transactions totaled 52.7 million, up 24% from a year prior. NACHA also launched the NACHA Corporate …

Payments providers Nxgen International and Payscape have come under one roof in a deal valued at $124 million and aided by investor Parthenon Capital Partners, the companies announced late last week. That will provide the impetus for both companies, whose brands will continue, to focus on expansion through organic growth …

The integrated-payments phenomenon is paying off for EVO Payments Inc. in the United States and internationally. While Atlanta-based EVO reported a decrease in first-quarter earnings, its strategy of courting integrated software vendors and companies that support their point-of-sale software continues to reap rewards, which EVO management says will benefit the …