News

July, 2020

• 7 July

  A Report Shows Why Cardless ATMs Are Growing More Popular in the U.S.

  

  The number of ATMs providing the option of cardless withdrawals rose 26% in 2019, says a new report from research firm RBR. Leading the charge in the adoption of cardless ATMs is the United States, where the number of these machines has more than tripled, according to the research.  Bank …
• 7 July

  Merchants Are Rebooting, So ISOs Look to Apps And Loyalty to Bring Customers Back

  

  As businesses start to reopen, independent sales organizations and other payment providers are rolling out programs suited to the new reality faced by both proprietors and their customers. The latest example comes from VizyPay, which on Tuesday announced a service it says will help merchants attract old customers and pull …
• 7 July

  A Processor’s Employees Get Catch-Up Pay and other Digital Transactions News briefs from 7/7/20

  

  Employees of independent sales organization Gravity Payments Inc. who collectively volunteered to take pay cuts during the coronavirus pandemic to avoid layoffs are now being repaid what they sacrificed; the average employee is getting $4,300 in back pay, Yahoo Money reported.Payment processor Computer Services Inc. reported record quarterly revenue of $70.6 million for its …
• 6 July

  New Data Show a Rebound for Restaurants And Hotels As States Wrestle With Covid-19

  

  Though Covid-19 still casts a long shadow over a number of U.S. states where early reopenings have led to a resurgence in  coronavirus cases, data released Monday indicate merchant volume is climbing rapidly across industries. The positive trend includes the hard-hit hospitality sector, according to the latest numbers.  Merchants in …
• 6 July

  Fiserv Lands Big Grocery Chain and other Digital Transactions News briefs from 7/6/20

  

  Fiserv Inc. said it has begun processing all in-store payments at 2,250 ALDI Nord stores in Germany through First Data Gmbh. Fiserv acquired First Data in 2019. Discover Financial Services said it will donate $25,000 to each of 200 restaurants owned by black proprietors. Nominations are being taken between now and Oct. …
• 3 July

  Venmo Testing a Mobile-Payments Service for Small Merchants

  

  Taking a page from Square Inc.’s playbook, PayPal Holdings Inc.’s Venmo peer-to-peer payments service is testing what it calls Venmo Business Profiles, a potentially revenue-generating service that enables Venmo users who are sole proprietors of small businesses to sell goods through an affiliated page visible to other Venmo users. Announced …
• 2 July

  BNY Mellon Works With Early Warning to Enable Real-Time Account Validation for Real-Time Payments

  

  With real-time payments comes real-time risk, and now banks and their technology vendors are attacking the problem of how to make sure funds moving in the blink of an eye are flowing to the proper accounts. The latest move comes from banking power BNY Mellon, which on Thursday said it …
• 2 July

  Will Consumers’ Payment Habits Return to Their Pre-Covid-19 Patterns?

  

  Before being upended by the Covid-19 pandemic, the payment choices U.S. consumers made were fairly stable. The biggest changes from 2018 to 2019 were an upswing in online bill payments and continued slippage in cash usage, according to new findings from the Federal Reserve Bank of Atlanta. Based on a …
• 2 July

  European Banks Plan Payment Network and other Digital Transactions News briefs from 7/2/20

  

  A group of 16 European banks said they plan to launch a “truly European” unified payments system by 2022 that would be an alternative to Visa and Mastercard, Reuters reported.The slowdown in in-store shopping due to the Covid-19 pandemic has caused some stores to run out of coins; most recently big-box grocery chain …
• 1 July

  How the Pandemic Has Hastened Small Merchants’ Conversion to Contactless And Online Channels

  

  Evidence continues to accumulate that the Covid-19 pandemic is not only boosting contactless and online payments, but doing so in historically short order. Some 48% of small and medium-size merchants reported in mid-June that they had observed an increase in the number of consumers either using contactless payments or asking …