News

March, 2020

• 30 March

  EVO Payments Gets Liquidity Injection To Help It Cope with Covid-19’s Effects

  

  Merchant acquirer EVO Payments Inc. disclosed Sunday that it had received a $150 million investment from a private-equity firm to help carry it through the Covid-19, or coronavirus, pandemic, which has decimated consumer spending. The investment came from funds affiliated with Chicago-based Madison Dearborn Partners LLC, which has been a …
• 30 March

  Pandemic Scammers Emerge and other Digital Transactions News briefs from 3/20/20

  

  TriNet Group Inc., a human-resources software provider, said a wave of scammers are exploiting the Covid-19 pandemic to gull people into buying so-called cures for the disease (no cure yet exists), as well as fake testing kits and vaccines.The Western Union Co. reported its digital money-transfer business “has continued to experience …
• 27 March

  With Stimulus Cash Pending, a Fintech Works With Banks to Get Money to the Underbanked

  

  With the U.S. House of Representatives expected to sign off Friday on a $2 trillion stimulus bill in the face of the Covid-19 pandemic ravaging the United States, some payments executives are focusing on how to get a share of that cash into the hands of the country’s underbanked and …
• 27 March

  Card Networks To Postpone Interchange Adjustments

  

  The payment card networks plan to postpone until July changes in their interchange schedules that they had planned to take effect in April, Digital Transactions News has learned. The delays come as many merchants, especially restaurants, hotels, and local retailers have closed or greatly reduced their operations as part of governmental attempts …
• 27 March

  Diebold Nixdorf Withdraws Full-Year Financial Guidance and other Digital Transactions News briefs from 3/27/20

  

  ATM and retail-checkout equipment manufacturer Diebold Nixdorf Inc. withdrew its full-year financial guidance, saying that in some locations it “is seeing instances of product installation disruptions from coronavirus-related logistics challenges, which impacts the company’s ability to forecast product revenue.” The company also postponed its planned May 21 Investor Day event.PAR Technology Corp., …
• 26 March

  One-Click Checkout Startup Fast Gets $20 Million from Investors, Including Stripe

  

  A San Francisco-based startup that claims to have a better mousetrap for e-commerce checkouts has raised $20 million in a Series A funding round led by a prominent online merchant acquirer, Stripe Inc. Fast AF Inc. said it will use the funding to accelerate the global rollout of its upcoming …
• 26 March

  Shift4 Data Quantifies a Heavy Coronavirus Impact on Restaurants And Hotels

  

  Sobering data from Shift4 Payments LLC shows that U.S. hospitality-industry transaction volume plummeted in mid-March as consumers sheltered in place and travel, both business and personal, waned. Restaurant volume fell from 42 million transactions to 11 million, a 74% decrease for the period from the week of February 2 to …
• 26 March

  Lightspeed’s 3-Month Fee Pause and other Digital Transactions News briefs from 3/26/20

  

  Lightspeed POS Inc. said it is offering its Delivery, eCommerce, and Loyalty services free for the next three months because of the Covid-19 impact on merchants.Online fraud-prevention provider Signifyd released its Covid-19 Business Continuity Package that offers new clients free access to some Signifyd products.Payments provider Fattmerchant said it is now an official gateway partner …
• 25 March

  Prepaid Payments Veteran Dan Henry Takes Over at Green Dot As the Firm Looks to Rebound

  

  After what it calls a “comprehensive search process,” prepaid-payments and banking-services provider Green Dot Corp. has found a new chief executive to replace founder and long-time CEO Steven Streit. The Pasadena, Calif.-based company said Wednesday payments veteran Daniel Henry is taking over from interim CEO William Jacobs, who has served …
• 25 March

  SMBs Expect Further Demand Drop and other Digital Transactions News briefs from 3/25/20

  

  A national survey of 850 small businesses found 69% have seen a “large drop” in demand because of the coronavirus pandemic, while 60% say they believe demand will drop further. The survey was conducted by America’s Small Business Development Centers and Thryv Inc., a software vendor specializing in small businesses.The U.S. Faster Payments …