News

November, 2020

• 5 November

  Cash App Delivers for Square in a Tough Year for Merchant Processing

  

  In a year in which a fearsomely spreading virus has shut down many businesses and wrecked some, merchant-services provider Square Inc. has had to lean more heavily than ever on the other part of its business—the 7-year-old peer-to-peer payment service Cash App. And in the quarter ended Sept. 30, Cash …
• 5 November

  Lightspeed Arms Itself for Heavy-Duty Competition With Its Acquisition of ShopKeep

  

  Lightspeed POS Inc. on Thursday acquired ShopKeep Inc., a payments and commerce provider, for $440 million in cash and stock. Under the terms of the deal, Lightspeed will pay $145.2 million in cash and issue 9.5 million subordinate voting shares. The deal is expected to close by Dec. 31. RBC …
• 5 November

  Its Deal for 3dcart Catapults an Ambitious Shift4 Into E-Commerce Processing

  

  Shift4 Payments Inc. on Thursday jumped into e-commerce payments processing with both feet with its acquisition of 3dcart, a 23-year-old web-store platform with some 14,000 clients globally. Terms were not announced. The deal diversifies Allentown, Pa.-based Shift4’s product mix but also buttresses its long-term strategy aimed at moving merchants from …
• 5 November

  EVO Reverses 3Q Loss and other Digital Transactions News briefs from 11/5/20

  

  EVO Payments Inc. reported third-quarter revenue of $117 million, a 4.4% decrease from $122.4 million in the same period a year ago. Its profit, however, of $5.8 million reversed a $1.8 million loss last year. In the quarter, EVO launched EVO Direct Deposit, a real-time settlement service for merchants.The Covid-19 pandemic made …
• 4 November

  Organized Crime’s Latest Scheme: Return And Refund Fraud

  

  Criminals are prepping to reap ill-gotten gains this holiday season, and one way they’re doing that is by bringing their organizational skills to return and refund schemes. That’s the word from Signifyd Inc., a fraud-prevention services provider. Return and refund fraud is one of three trends gaining prominence now, says …
• 4 November

  Small Sellers See Higher Tickets And Fewer Transactions, But Is Covid’s Surge the Culprit?

  

  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 …
• 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 …
• 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 …
• 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, …
• 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 …