Digital Transactions Authoritative, insightful and timely information for payments professionals
The Covid-19 impact continues to make itself known in the payments arena. Consumers are increasingly favoring debit cards, especially now that many have received $1,200 stimulus payments. And merchants using the Clover point-of-sale system now have access to online ordering on the platform. Consumers increased their debit card spending 6.6% …
May, 2020
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11 May
USA Technologies Picks New CEO and other Digital Transactions News briefs from 5/11/20
USA Technologies Inc. named Sean Feeney chief executive officer, effective May 8. Feeney most recently was CEO of DefenseStorm Inc., a provider of cloud-based cybersecurity management for financial institutions. USAT processes payments for vending-machine operators. Hudson Executive Capital, USAT’s largest shareholder, recently installed eight new directors on the company’s board after winning …
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8 May
EVO Payments Says Inactive Merchants Coming Back to Life During Nascent Economic Revival
After suffering through a 40% year-over-year decline in payment volume because of the Covid-19 pandemic, merchant processor EVO Payments Inc. says many merchants that went dormant are generating transactions again. Atlanta-based EVO’s active merchant count declined by about 35% during the worst part of the pandemic-induced business slowdown in mid-April, …
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8 May
TRANSACT Connect – Virtual Environment, Real-World Benefits.
The meaning of meetings has changed. In-person contact is so vital to the payments ecosystem – not only in the way some of its products are used, but also in the way that those products are sold to merchants, and industry partnerships are formed. The Electronic Transactions Association, producers of …
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8 May
Square’s POS Reputation May Aid Its New Online Checkout Button
Square Inc.’s new online checkout button—a product called Square Online Checkout—likely will get a boost in adoption from the company’s nearly 10-year history of providing payments technology for point-of-sale merchants. The new service enables Square merchants to place a buy button on Web sites and anywhere a link can be shared, …
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8 May
Cardtronics Eyes Long-Term Covid-19 Business Impact and other Digital Transactions News briefs from 5/8/20
Cardtronics plc chief executive Edward West pointed to a long-term effect from the Covid-19 pandemic that he said could prove beneficial for the company, the world’s largest ATM operator. “We also believe that this crisis will likely accelerate the trend of bank branch transformation as several leading retail banks have already …
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7 May
Fiserv CEO Yabuki Sees Signs of Stronger Growth as He Yields to Former First Data Chief Bisignano
Jeff Yabuki will step down July 1 after 15 years as chief executive of Fiserv Inc. and will be succeeded by Frank Bisignano, who joined the company last year after it acquired First Data Corp., of which Bisignano was CEO, in a $22-billion all-stock deal. Yabuki, who is also Fiserv’s …
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7 May
FIS’s Merchant Revenue Balloons and other Digital Transactions News briefs from 5/7/20
Fidelity National Information Services Inc. (FIS) reported $935 million in revenue in its merchant solutions segment in the first quarter of 2020, a 1,770% increase from $50 million a year ago. That’s a reflection of the integration of acquirer Worldpay, which FIS purchased last year. Sales were up in non-discretionary verticals, online …
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6 May
Why PayPal Thinks Shifts to Digital Payments Will Outlast the Covid-19 Lockdowns
Observers have said before that the Covid-19 crisis is reshaping payments, but on Wednesday afternoon executives at PayPal Holdings Inc. made it clear they expect this shift to digital options to be permanent. “People don’t want to touch cash. They don’t want to touch screens. There’s going to be a …
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6 May
Despite a Big Quarterly Loss, Square Eyes Bright Spots in the New Covid-19 Environment
Square Inc.’s seller volume is down and its net loss more than doubled to $106 million in the first quarter. But Square’s Cash App service is thriving during the Covid-19 pandemic, and Square expects its merchant business will more than recover. “We see significant opportunity to bring new sellers and …
