News

November, 2020

• 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 …
• 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 …
• 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

• 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. …
• 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 …
• 30 October

  Western Union P2P Transactions up 6% and other Digital Transactions News briefs from 10/30/20

  

  The Western Union Co. reported third-quarter revenue of $1.259 billion, down 4% year-over-year. Peer-to-peer transactions in the quarter totaled 77.3 million, up 6%.MoneyGram International Inc. reported third-quarter revenue of $323.2 million, down 1% year-over-year on a constant-currency basis. Digital transactions accounted for a 27% share of all money transfers in the quarter.Amazon.com …
• 29 October

  Clover Combines Ordering And Payment With Its QR Code Technology

  

  Fiserv Inc.’s Clover point-of-sale technology business on Wednesday unveiled Scan to Order, which allows consumers to access a menu and pay for their meal by scanning a QR code at the table or the order window. The application reflects an emerging trend among restaurants to shift interactions between customers and …
• 29 October

  Global Payments Revenue Down 4% and other Digital Transactions News briefs from 10/29/20

  

  Processor Global Payments Inc. reported adjusted net revenue of $1.746 billion for the third quarter, down 4% year-over-year on a combined basis. Global acquired processor TSYS Inc. last year.FIS Inc. reported total third-quarter revenue for its merchant-processing unit of $1.02 billion, up 44% year-over-year. The lift comes chiefly from the acquisition of the …
• 28 October

  Visa Looks for Brighter Skies in 2021 As It Emerges From a Year Darkened by Covid’s Impact

  

  Visa Inc. may be bidding good riddance to a Covid-haunted fiscal 2020, but the giant payments network made it plain Wednesday afternoon it is looking forward to a very different fiscal 2021. “The pandemic is still with us,” noted Vasant Prabhu, the company’s chief financial officer, but “fiscal year 2021 …
• 28 October

  Mastercard’s Top Brass Points to Signs of a Recovery But Warns of Recent Restrictions

  

  As were all payments networks, Mastercard Inc. was hammered by the novel coronavirus pandemic, but its leaders Wednesday morning pointed to a tentative recovery. “Overall, we see signs of improvement, but we’re not out of the woods yet,” noted Ajay Banga, Mastercard’s outgoing chief executive, during a conference call with …