Digital Transactions Authoritative, insightful and timely information for payments professionals
October ended on a whimper for small-business payment volumes, but whether that’s because of a new surge in Covid-19 or due to seasonality is hard to tell, experts say. CardFlight Inc., which supplies point-of-sale technology for small businesses and has been tracking their sales since the Covid-19 pandemic set in …
November, 2020
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4 November
Gravity Payments’ RV Payments Integration and other Digital Transactions News briefs from 11/4/20
Payments provider Gravity Payments said it is processing mobile transactions for IDS Service360, a new software product that integrates with a management system from Integrated Dealer Systems for RV, marine, and trailer dealers.Coro Global Inc., whose app allows users to make payments backed by physical gold, announced its Coro Corp. unit has …
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3 November
MagTek’s New DynaFlex Targets Payment Acceptance Flexibility
MagTek Inc. released its DynaFlex platform. Announced Tuesday, the platform can serve as a countertop or mobile device, be mounted to a tablet, or affixed to a standalone kiosk. Designed to work with multiple configurations, DynaFlex is compatible with Windows and Android devices. It can accept payment via magstripe, EMV …
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3 November
CPI Card Sales up 22% and other Digital Transactions News briefs from 11/3/20
Payment card manufacturer CPI Card Group Inc. said net sales of debit and credit cards grew 22% year-over-year to $62.7 million in the third quarter. Net sales of prepaid debit cards dipped 1% to $20.6 million. For the nine months through September, credit and debit card sales rose 19% to $180.9 million, …
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2 November
PayPal Enjoys a Robust Quarter As It Outlines a ‘Fundamental Overhaul’ of Its Apps
PayPal Holdings Inc.’s top executives late Monday laid out what chief executive Dan Schulman called “a fundamental overhaul” of the company’s PayPal and Venmo apps that will include a new cryptocurrency feature as well as bill payment and QR code capability on top of near-field communication technology and PayPal’s Pay …
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2 November
Zelle Logs Double-Digit Increases As Consumers And Businesses Contend With Covid-19
Spurred by consumers’ need to send money to family and friends during the Covid-19 pandemic and an increasing number of financial institutions being onboarded, the Zelle peer-to-peer payment network announced Monday it processed $84 billion in transactions during the third quarter of 2020, up 18% from the second quarter. Consumers …
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2 November
With Real-Time Networks on the Way, Processors Prepare to Give Businesses a Piece of the Action
As consumers adopt real-time payments in the coming years, payments providers are expecting businesses large and small to follow suit. News released Monday indicates preparations are already under way. Canadian processor Everlink Payments Services Inc. and Fintainium Inc., a Jacksonville, Fla.-based developer of cloud-based technologies for financial institutions, have agreed …
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2 November
Tapped Debit Purchases at $20.53 Average and other Digital Transactions News briefs from 11/2/20
The four-week average purchase amount for contactless transactions made with a debit card is $20.53, lower by 49% from the $40.43 overall average for purchases made with debit cards, said PSCU, a credit union service organization, in its weekly Tracking Transactions Trends report.Nacha announced that Nivelo Inc., a specialist in payments security for …
October, 2020
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30 October
Eye on BNPL: Splitit Will Test Visa’s Installment API And Sezzle Doubles Its Staff
The buy now, pay later payment option continues to barrel ahead as Covid-weary consumers seek new sources of credit at the point of sale. In the latest news, Splitit Payments Ltd., said it is testing the integration of a Visa Inc. application programming interface for installment payments and Sezzle Inc. …
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30 October
COMMENTARY: In the Age of Covid, It’s Time For Retailers to Shift to Digital Offers
Covid-19 has been highly disruptive to the U.S. retail sector, with research estimating sales will fall by 10.5% this year. The same forecast suggests small, mainly brick-and-mortar retailers will see a 14% drop in sales. Even now, months after the pandemic’s first appearance in the U.S market, forty-five percent of …