News

June, 2021

• 11 June

  BofA’s Pay to Card Brings the Bank Into the Fast-Developing Market for Speedy Payouts

  

  Bank of America Corp.’s decision to introduce fast payouts to consumer accounts globally brings a major financial institution into a market that is attracting increasing interest from an array of payments providers. Pressure for such services has grown more intense with the growth of the gig economy and recent needs …
• 11 June

  Fresha Secures $100 Million in Funding and other Digital Transactions News briefs from 6/11/21

  

  Fresha, a platform that enables consumers to book and pay for beauty and wellness appointments, received a $100-millon Series C investment led by General Atlantic.BitPay Inc. is processing transactions allowing users to spend cryptocurrency with Shells, a provider of cloud-based virtual desktop operating systems.The city of South Haven, Mich., has launched …
• 10 June

  Stripe Debuts an App to Ease the Burden of Sales Tax Collection for Merchants

  

  Heeding years-long requests from merchants for a solution to simplify sales-tax compliance, Stripe Inc. on Thursday introduced Stripe Tax, an application that allows merchants to automatically calculate and collect sales tax, value-added tax (VAT), and goods-and-services tax (GST) in the United States and more than 30 other countries. Spurring the need …
• 10 June

  Shopify And Affirm Open Buy Now, Pay Later to U.S. Sellers Via Shopify Installments

  

  With e-commerce sales booming, payments players are looking for combinations that can keep online customers engaged and add even more buyers to their ranks.  An example emerged Thursday morning as Shopify Inc. and Affirm Inc. announced Affirm’s buy now, pay later service is now available to “hundreds of thousands” of U.S. …
• 10 June

  Uplift’s BNPL Bet on Vegas.com and other Digital Transactions News briefs from 6/10/21

  

  Buy now, pay later provider Uplift Inc. said its service has been integrated with Vegas.com, a travel site.In related news, buy now, pay later provider Splitit said its service is now available on the ChargeAfter platform, which offers merchants a variety of consumer financing methods.Mastercard Inc. said it has closed on its $850-million acquisition of Ekata …
• 9 June

  A Surcharging Bill Advances to the Colorado Governor’s Desk

  

  Soon, there might be just two states that prohibit credit card surcharging with the passage Tuesday of a bill in Colorado that would permit the pricing strategy. The bill, SB21-091, passed both the Colorado House and Senate and now moves to Governor Jared Polis’s desk. He has 30 days to …
• 9 June

  U.S. Consumer Spending Capped a Year-Long Recovery With a Strong May Reading, Visa Says

  

  Consumer spending has now been recovering for a full year from the impact of Covid-19, according to a report released on Wednesday by Visa Inc. The card network’s U.S. Spending Momentum Index, which it began releasing publicly last month, registered a reading of 123.3 for May. That number indicates 59% …
• 9 June

  86% Abandon Shopping Carts and other Digital Transactions News briefs from 6/9/21

  

  A survey from Fast, an online checkout provider, found that 86% of U.S. shoppers have abandoned an online shopping cart. Of the 1,004 consumers surveyed earlier this month, 55% said they would be more likely to make an online purchase if there was a quicker, easier way to buy directly from …
• 8 June

  Omnichannel Processing Takes Another Step as Wix.com Enters the Fray

  

  The trend toward providing merchants technology that unites their digital and physical payments acceptance and allows them to manage their operations from a single platform got another boost Tuesday with Israel-based Wix.com Inc.’s introduction of Wix POS. The solution allows merchants to accept in-store and online payments, including contactless and chip …
• 8 June

  Eye on Mobile: Keys And IDs Come to Apple Wallet, And Google Pay Pulls Into ParkMobile

  

  One way to boost mobile-wallet usage for functions like payments is to more tightly integrate the apps into users’ daily lives. Apple Inc. followed that script with its preview on Monday of an update for watchOS8, the brains behind its Apple Watch.  This fall, the refresh will allow users to …