Mobile Commerce

More consumers appear to be keeping their credit cards in their wallets when they shop. Credit union service organization PSCU says its data show that overall credit card spend among consumers who use credit and debit cards issued by credit unions working with PSCU is down 29.3% for the week …

The screeching slowdown in consumer spending caused by efforts to stem the spread of the Covid-19 pandemic has hit U.S. small businesses particularly hard, but there are some bright spots, according to the Electronic Transactions Association and merchant-acquiring research and consulting firm The Strawhecker Group. The survey of more than …

Fraud prevention firm Kount Inc. released a weekly tracker of e-commerce purchase trends. In mid-March it showed that U.S. online sales of home office furniture and electronics increased 54%.Installment payments provider Klarna Bank AB said data from consumer use of its shopping app shows that e-commerce purchases are shifting to health and beauty and …

Visa Inc. and Mastercard Inc. have postponed their planned U.S. interchange revisions until July, but when these changes do take effect the net impact on merchants will be deep, according to an analysis released by CMSPi, an Atlanta-based global merchant payments consultancy. Indeed, the new pricing planned by the two …

Visa Inc. reportedly denied a request to delay the Oct. 1 EMV liability shift for petroleum businesses, according to a ConvenienceStoreNews.com article, which says several fuel-retailing groups petitioned Visa for the delay. Visa, the Web site said, attributing it to NACS, an association for convenience store operators, is said to be monitoring the …

Losses from identity fraud grew 13% in 2019 to $16.9 billion even though instances of ID fraud fell nearly 10%, according to the newly released 2020 Identity Fraud Report from Javelin Strategy & Research. The study also found that person-to-person payments fraud increased 733% from 2016 to 2019. Based on …

Payments processor Global Payments Inc. reported it began to see a significant impact on its results in mid-March from the Covid-19 pandemic, and now expects first-quarter adjusted net revenue to be up “slightly” for the quarter year-over-year. Citing the unknown “duration and severity” of the pandemic on its business, Global Payments suspended …

Contactless payments already capture a big share of point-of-sale purchases in Canada, and that share is sure to grow with recent announcements by Visa Inc. and Mastercard Inc. that they are raising their contactless transaction limits to C$250 to limit the handling of cards that could spread the coronavirus, according …

As many merchants, especially those in hospitality, are challenged by slumping consumer demand amid the Covid-19 outbreak, payments companies are developing new resources and designating millions in aid. Restaurants, in particular, are experiencing steep drops in demand as consumers abide by shelter-at-home directives. They’re closing their dine-in spaces and, if …

Scammers are calling consumers to gull them into giving up personal financial details as a way of allegedly receiving stimulus money sooner from the CARES Act, warned the Pennsylvania chapter of the American Association of Retired Persons.Prepaid card program manager Paysign Inc. reported its 2019 revenue increased 48% year-over-year to $34.7 million. Net …