News

March, 2020

• 18 March

  Womply Data Show How the Coronavirus Has KO’d Many Merchants

  

  New findings from a software and business-services provider that examined what happened at thousands of small businesses last week show the damage the coronavirus, or Covid-19, is inflicting on merchants. San Francisco-based Oto Analytics Inc., which does business as Womply, looked at payment card data from its merchant-acquiring partners, data …
• 18 March

  Familiar Names Dominate New Rankings of U.S. Merchant Acquirers, With Chase Retaining the Lead

  

  JPMorgan Chase & Co. led U.S. merchant acquirers last year with $1.51 trillion in dollar volume processed, according to new industry rankings announced Wednesday by The Strawhecker Group. Long a powerhouse in acquiring, Chase led 2018’s rankings with $1.4 trillion in volume. Retaining second place last year was Worldpay, with …
• 18 March

  Shift4 To Suspend Some Fees, Joining Others in Crafting Ad Hoc SMB Relief Efforts

  

  Payments providers are rallying support for small businesses, especially restaurants and hospitality merchants, contending with the effects of the coronavirus and urgent calls for social distancing. Just Tuesday, Nevada Governor Steve Sisolak ordered all casinos and other nonessential businesses, such as personal health and beauty businesses, to close for 30 days.  …
• 18 March

  New 7-Eleven Delivery Option and other Digital Transactions News briefs from 3/18/20

  

  In the face of the Covid-19 pandemic, 7-Eleven Inc. said its home-delivery service has added a “contactless” option in which customers can indicate they want the delivery left at the door. The company’s 7NOW delivery app counts more than 30 million enrolled households.MoneyGram International Inc. reported its online transactions grew 60% year-over-year in …
• 17 March

  American Express Expects Revenue Hit From Expanding Coronavirus Impacts

  

  With the nation hunkering down to slow the spread of Covid-19, American Express Co. said Tuesday it expects its first-quarter revenues, adjusted for currency fluctuations, to grow only 2% to 4% year-over-year. In contrast, AmEx’s revenues net of interest expense rose 7% to $10.4 billion in 2019’s first quarter. In …
• 17 March

  Newly Formed Repay Reports a 44% Payment Volume Increase for 2019

  

  Repay Holdings Corp. said its 2019 card payment volume of $10.7 billion was a 44% increase over the combined 2018 figures for its constituent units, the Atlanta-based processor reported Monday. Formed in mid-2019 through the merger of Hawk Parent Holdings LLC and a subsidiary of Thunder Bridge Acquisition Ltd., Repay …
• 17 March

  ETA’s Transact Canceled and other Digital Transactions News briefs from 3/17/20

  

  Transact, the Electronic Transactions Association’s annual conference, has been canceled because of the Covid-19 public health emergency.Kount Inc. launched Kount Control, technology it says will allow companies to fight malicious logins and bots, credential stuffing, and brute-force attacks without interfering with legitimate transactions.Mobile-commerce provider Bango Plc said it is providing carrier-billing services for …
• 16 March

  The Coronavirus Is Likely To Hit Payment Firms’ Volumes And Profits, But Just How Hard Is Unknown

  

  So, how much will Covid-19 have affected payment card dollar and transaction volumes when the card networks and merchant processors report their first-quarter financials beginning in about a month? At this point, it’s way too early to tell. An early read might come Tuesday when American Express Co. is scheduled …
• 16 March

  No Safe Haven: Bitcoin And Other Cryptos Plunge Along With Equities in the Face of the Coronavirus

  

  As stock markets swoon in the face of the novel coronavirus outbreak and its effects, prices for cryptocurrencies like Bitcoin are sliding as well, disproving at least for now the idea that cryptos can serve as a so-called safe haven for investors. Bitcoin, the leading digital currency, was trading at …
• 16 March

  Nacha Cancels 2020 Payments Event and other Digital Transactions News briefs from 3/16/20

  

  Nacha’s Smarter Faster Payments 2020 Conference has been canceled because of concerns related to the novel coronavirus. Nacha said it is trying to develop a free virtual event with select educational content. Next year’s conference is scheduled for April 25-28 in San Francisco.Dueling bills have been introduced in the Delaware Legislature that would …