News

May, 2022

• 27 May

  Cannabis Specialist POSaBIT Posts Strong Volume, Despite Industrywide Headwinds

  

  Having weathered an industrywide downturn in sales that began during the third quarter of 2021, cannabis-payments processor POSaBIT Systems Corp. late Thursday reported strong first-quarter sales and revenue. Transactions totaled $103 million, a 61% increase from the same period last year, and revenues totaled $6.4 million, up 79%. Same-store sales …
• 27 May

  An Acquiring Deal With BNP Paribas Helps Propel Cross-Border Traffic for PingPong Payments

  

  The explosive growth in e-commerce has not been contained within national borders, which creates a market for processors capable of handling cross-border payments. PingPong Payments, a specialist in this market, early Friday announced an acquiring agreement with Europe’s largest bank, BNP Paribas, that the U.S.-based processor expects will reinforce its …
• 27 May

  Luxury-Tour Operator Scott Dunn Picks Nuvei and other Digital Transactions News briefs from 5/27/22

  

  Payments provider Nuvei Corp. said it has agreed to process payments for luxury-tour operator Scott Dunn.Payments-technology provider Verifone Inc. opened registration for CommerceNow 2022, a virtual digital-commerce conference scheduled for June 22-23.EPayResources, a payments advisory service, named Jeff Foote incoming president effective June 1. He succeeds current president Laura Steele, who is expected to …
• 26 May

  Beyond Routine: Research Indicates Digital Payments Are Now ‘Second Nature’ for Consumers

  

  Payments players have suspected for the past two years that digital payments were becoming increasingly routine, but now research is indicating they may have become “second nature.” That’s the term Marqeta Inc., the card-issuing platform, used Thursday in announcing the results included in its latest research paper, entitled “2022 State …
• 26 May

  BNPL’s Move Into Bigger Tickets Leads Players to Seek Slicker Outreach And Tighter Vetting

  

  As the buy now, pay later trend moves upstream to higher-ticket markets, the assumption of bigger debt loads brings with it a need to communicate more closely with consumers. Point-of-sale credit, which took off in e-commerce during the pandemic, is reaching markets like health care, and on Wednesday a customer-communication …
• 26 May

  CFPB Targets Card Issuers and other Digital Transactions News briefs from 5/26/22

  

  The Consumer Financial Protection Bureau has sent a letter to the chief executives of JP Morgan Chase, Citibank, Bank of America, Capital One, Discover, and American Express asking them to explain the practice of omitting data about consumers’ monthly credit card payments when sending information to credit-reporting companies. The CFPB contends the …
• 25 May

  Eye On BNPL: Adyen Partners With Radial; WooCommerce Woos Affirm; Splitit Recruits BlueSnap

  

  In a move to streamline its payment options for enterprise clients in the United States and Canada, Belgium-based omni-commerce logistics provider Radial Inc. is rolling out Adyen for Platforms, Adyen NV’s end-to-end payment solution for peer-to-peer marketplaces, on-demand services, and crowdfunding platforms.  Adyen for Platforms is aimed at enabling platform …
• 25 May

  Five-Year-Old Paysend Looks to a Big Year After Its Expansion to 7 Million Users

  

  Digital alternatives to the long-time money-transfer services from The Western Union Co. and MoneyGram International Inc. are developing fast, a fact underscored by an announcement Tuesday by Paysend Group that its user count in the U.S. market now stands at more than half a million, up by two-thirds over the …
• 25 May

  Paddle Acquires Profitwell for $200 Million and other Digital Transactions News briefs from 5/25/22

  

  Payments-technology provider Paddle announced it has acquired ProfitWell, a vendor of software for subscription metrics and retention automation. The deal is valued at more than $200 million in cash and equity.Apple Inc.’s tap-to-pay on iPhone is rolling out to its retail stores today, according to a Twitter post from Bloomberg reporter Mark Gurman. The …
• 24 May

  E-commerce Sales Through Marketplaces Are on a Roller Coaster Ride

  

  The wave that lifted sales through e-commerce marketplaces during the initial stages of the Covid-19 pandemic is losing energy, according to data from Extensiv, a provider of omnichannel fulfillment solutions. Growth in average orders per merchant through Shopify Inc. has decreased 12% year to date, while other marketplaces—including eBay, Etsy, …