News

July, 2020

• 31 July

  Digital Services Help Buoy MoneyGram As the Remittance Provider Logs a Tough Quarter

  

  The Covid-19 pandemic has driven consumers and businesses to digital alternatives for payments, and money transfers are proving to be no exception. MoneyGram International Inc. reported Friday morning transactions online and through its app grew 106% year-over-year and accounted for 27% of all transactions in the June quarter, up from …
• 31 July

  Amazon Sales up 40% and other Digital Transactions News briefs from 7/31/20

  

  With consumers flocking to e-commerce during the Covid-19 pandemic, net product sales for Amazon.com Inc. totaled $50.2 billion the June quarter, up 40% year-over-year. Sales at its physical stores dropped 13% to $3.8 billion.China will surpass the United States as the world’s largest retail market this year, eMarketer Inc. predicted in its “Global …
• 31 July

  Shift4 Emerges From Its IPO With Less Debt and More Cash

  

  Shift4 Payments Inc. is scheduled to have its first quarterly earnings call as a publicly held company on Thursday. Ahead of that call, company founder and chief executive Jared Isaacman is expressing satisfaction with the merchant acquirer’s June 4 initial public offering.  The oversubscribed IPO was priced at $23 per share, …
• 30 July

  Debit And Services Help Mastercard Stay Afloat During the Pandemic

  

  Like its bigger rival Visa Inc., Mastercard Inc. managed to remain profitable during the pandemic-ravaged second quarter and in recent weeks has been seeing improving transaction trends. Mastercard on Thursday reported total U.S. purchase volume of $405 billion in the quarter ended June 30, down 5% from $427 billion a …
• 30 July

  Galileo Inks Plaid Integration and other Digital Transactions News briefs from 7/30/20

  

  Payments-technology provider Galileo Financial Technologies LLC announced an integration with data aggregator Plaid Inc. Through Plaid’s links to financial institutions, the tie-in will allow Galileo clients to more readily authorize users for automated clearing house transactions. Visa Inc. announced in January a deal to acquire Plaid for $5.3 billion. Social Finance Inc. (SoFi) agreed in April …
• 29 July

  PayPal Plots a POS Course With QR Codes As It Comes Off the ‘Strongest’ Quarter in Its History

  

  PayPal Holdings Inc. has made big plays for the physical point of sale before, but on Wednesday the San Jose, Calif.-based company unveiled what could be its biggest strategy yet to capture transactions at the cash register. Top executives said an arrangement under way with CVS Pharmacy to run PayPal …
• 29 July

  More Straight Talk for ISOs: Maintaining a Relationship during a Crisis

  

  Ross Paup is Senior Manager, Strategic Partnerships Angela Carranza is Manager, Strategic Partnerships Failure to communicate with customers during a crisis can come at a high cost: lost business, lack of trust, etc. How is First American ensuring customers know they are top of mind in today’s environment?    Ross: …
• 29 July

  Businesses Adopt Zelle As the Network’s Numbers Climb in the Face of the Pandemic

  

  Peer-to-peer payments networks like Zelle were introduced as a means for consumers to pay each other, but business acceptance now appears to be ramping up along with consumer usage in the face of the Covid-19 pandemic.  Seven major financial institutions are now enabling property owners, home-services companies, and other small …
• 29 July

  Five Banks Link to TCH RTP Network and other Digital Transactions News briefs from 7/29/20

  

  Five banks linked to The Clearing House Payments Co.’s Real Time Payments (RTP) network on a single day. The five—Dogwood State Bank, First Fidelity Bank, National Bank of Texas, Royal Bank, and Signature Bank—joined through Jack Henry & Associates Inc.’s JHA PayCenter. A Jack Henry executive said the company expects to “onboard …
• 28 July

  Visa Remains Profitable Despite Pandemic Hits; eBay Volume Jumps 26%

  

  Visa Inc. reported Tuesday that it managed to make nearly $2.4 billion in its June-ending quarter despite massive hits to its international volumes and credit card spending caused by the Covid-19 pandemic, and its chief executive also addressed the latest debit card controversy. Separately, online marketplace eBay Inc. reported its …