News

May, 2021

• 10 May

  A Fed Report on Debit Costs Could Fuel a Movement to Reduce a Decade-Old Fee Cap

  

  Pressure may be building on the Federal Reserve to take action on a debit card interchange-fee regulation that it has left intact for 10 years despite sweeping changes in the payments business, including an onrush of e-commerce transactions over the past year. In part, observers are reacting to a report …
• 10 May

  Nuvei Volume Soars 132% and other Digital Transactions News briefs from 5/10/21

  

  Payments provider Nuvei Corp. reported first-quarter volume of $20.6 billion, up 132% year-over-year, with e-commerce accounting for 87% of that total. Revenue grew 80% to $149.9 million. Nuvei was known as Pivotal Payments until rebranding in 2018.Kount, an authentication and fraud prevention provider, announced Kount Dispute and Chargeback Management Solution, a service that integrates …
• 7 May

  Square Posts a Strong Quarter As Larger Sellers And Bitcoin Play a More Prominent Role

  

  An influx of larger merchants helped drive first-quarter payment volume for Square Inc., while on the consumer side the company’s Cash App benefited from a runup in value for Bitcoin as well as increasing adoption by business users. Sellers’ gross payment volume totaled $29.8 billion in the quarter, up 21% …
• 7 May

  Nuvei To Acquire SimplexCC for $250 Million and other Digital Transactions News briefs from 5/7/21

  

  Payments provider Nuvei Corp. announced an agreement to acquire SimplexCC Ltd., whose technology enables market participants to buy or sell cryptocurrencies. The $250-million deal is expected to close in the second half of the year and comes on the heels of Nuvei’s agreement to acquire sports-betting technology specialist Mazooma Technical Services Inc. for $56 …
• 7 May

  After a Robust Q1, Zelle Says It is ‘Just Scratching the Surface’ When It Comes to P2P Payments

  

  Despite posting significant gains in dollar and transaction volume in the first quarter, Zelle, the fast-growing peer-to-peer network operated by Early Warning Services LLC, says it has just begun to mine P2P payments’ growth potential.  Earlier this week, Zelle announced $106 billion was sent through its network on 392 million …
• 6 May

  Shift4 Notches Record Volume As It Looks to Stadiums And Casinos for Future Growth

  

  Shift4 Payments Inc. on Thursday reported record quarterly end-to-end payment volume and gross revenue as it notched what chief executive Jared Isaacman called a “strong first quarter.” Stronger performance in the company’s core hospitality market helped drive end-to-end volume to a record $8 billion, with most growth coming from new …
• 6 May

  Flywire Adds Discover Acceptance and other Digital Transactions News briefs from 5/6/21

  

  Flywire Corp. said users of its education payment service can now use Discover and Diners Club International cards to pay tuition and fees at educational institutions served by Flywire.The chief executives of 21 banks plus Fiserv Inc. and Jack Henry & Associates signed a letter committing their organizations to real-time bill …
• 5 May

  PayPal’s Boss Says He’s Out to Make the Company a ‘Leader, Not a Reactor’ in Digital Currencies

  

  Skeptics abound when it comes to digital currencies, but PayPal Holdings Inc. is out to prove them wrong. Chief executive Dan Schulman, an early enthusiast, made it plain Wednesday he sees the crypto trend not only as the company’s big opportunity, but also as a potential liability if PayPal fumbles …
• 5 May

  Square Online Courts Bars And Brewers With Delivery Via DoorDash

  

  Square Inc. continues to build out delivery services for its Square Online platform with the addition of liquor delivery. Merchants using Square Online that sell liquor can offer customers the option to purchase alcohol from the store’s Web site and have the order fulfilled through Square’s delivery partner DoorDash Inc. …
• 5 May

  Contactless Payments Transactions Are up 426% Among CardFlight Merchants

  

  More evidence emerged that consumers are still increasing their use of contactless payments, over a year since the outbreak of the Covid-19 pandemic. Contactless transaction counts among the more than 75,000 small businesses in the latest CardFlight Small Business Report grew 426.7% in the week ending May 2 compared to …