News

November, 2024

• 11 November

  Gen Zers Are Struggling With Credit Card Debt, CreditCards.com Finds

  

  Gen Zers struggle to pay their monthly credit card bills, with 56% having missed a payment or making a late payment, says a study from CreditCards.com. In addition, some 9% of Gen Zers rely on parental support to pay their credit card bills. Compounding these difficulties with credit card bills …
• 11 November

  Sezzle Notches Another Retailer for its BNPL Option

  

  Online outdoor retailer Backcountry now offers buy now, pay later payments from Sezzle Inc. The payment option is available at Backcountry.com and in-store, and at its Steep & Cheap, Competitive Cyclist, and MotoSport brands. Minneapolis-based Sezzle says Backcountry, which is owned by private-equity firm TSG Consumer Partners LLC, switched to …
• 11 November

  Western Union’s Data Sharing Plan and other Digital Transactions News briefs from 11/11/24

  

  The Western Union Co. announced a data-sharing service aimed at allowing businesses to use information from the payments platform to more sharply target marketing efforts at consumers globally. Visa Inc. has agreed to support palm-recognition technology for payments developed by Tencent, the China-based social-media company, starting in Singapore. The fintech PhotonPay announced it will …
• 8 November

  Block Focuses on Using Loans, Afterpay, and Cash App to Power Its Growth

  

  The big payments platform Block Inc. will remain focused on its Afterpay buy now, pay later offering, on its Cash App digital wallet, and on increasing access to Square Loans, said Block chief executive Jack Dorsey late Thursday during the company’s third-quarter earnings call. Dorsey stressed the key importance of …
• 8 November

  Eye on Crypto: Detroit To Accept Crypto in 2025; Alchemy Pay Doubles U.S. Licenses

  

  The Motor City will add cryptocurrency payments for taxes and some fees in 2025, while Alchemy Pay gains money-transmitter licensing approvals in four U.S. states. Detroit will begin accepting cryptocurrencies for city fees and taxes, becoming the largest U.S. city so far to do so, says a statement from Mayor …
• 8 November

  Toast Revenue up 24% and other Digital Transactions News briefs from 11/8/24

  

  Dining-payments specialist Toast Inc. reported gross payment volume grew 24% in its September quarter compared to the same period last year, reaching $41.7 billion, while locations using its technology were up 28% to almost 127,000. Revenue for the quarter reached $1.3 billion, up 26%; for the nine months through September, revenue totaled …
• 7 November

  Nearly Half of Consumers Say They’re More Satisfied With Their Card Issuer After Suffering Fraud, As Fraud Remains a Threat

  

  Despite the ever-present threat of fraud, almost half of consumers tend to have a more positive opinion of their credit card issuer after becoming fraud victims, according to J.D. Power’s “U.S. Financial Protection Satisfaction Study,” released Thursday. Some 49% of credit card holders say they have a more positive impression …
• 7 November

  Amid a Drop in Hardware Sales, Lightspeed’s Revenue Rises 20%; NCR Voyix Reverses a Quarterly Loss

  

  Point-of-sale system maker Lightspeed Commerce Inc.’s transaction-based revenue jumped 33.5%, according to the company’s fiscal second quarter results ended Sept. 30. Meanwhile rival NCR Voyix Corp. posted $1.1 billion in net income in its third-quarter revenue, reversing a year-ago loss. Montreal-based Lightspeed says its transaction-based revenue totaled $183.8 million in …
• 7 November

  More Grocers Pick Instacart  and other Digital Transactions News briefs from 11/7/24

  

  Instacart, a technology provider for the grocery industry, announced that four grocery companies — Sprouts, Harmons, The Save Mart Companies, and Rosauers — have adopted Instacart Storefront Pro, an e-commerce platform aimed at grocers. More than 600 retailers are using Instacart’s e-commerce technology, the company says. Payments provider Priority Technology Holdings Inc. reported September-quarter merchant bank-card …
• 6 November

  Blackhawk Network Launches Digital Cards With Its Visa And Mastercard Branded e-Gift Products

  

  The Blackhawk Network has entered the digital card space with the launch of Visa- and Mastercard-branded e-gift cards that can be used in-store and online. The launch builds on consumers’ growing preferences for QR-code and tap-to-pay technology, the prepaid card company says, as both technologies help streamline the payment process …