News

June, 2024

• 5 June

  Is eBay’s Decision to Drop AmEx a Ploy To Negotiate Lower Acceptance Costs?

  

  EBay Inc.’s decision to stop accepting American Express cards effective Aug. 17 is generating big headlines, but some payments-industry experts question whether the decision is really a tactic to negotiate a lower interchange rate from the travel-and-entertainment card giant, given that eBay says it won’t stop accepting AmEx for about …
• 5 June

  Adyen’s Payment Tech Finds a Home at Prada

  

  Italian fashion house Prada is adopting omnichannel payments technology from Adyen NV in a bid to build a single financial technology platform across all its retail channels. Tap to Pay on iPhone in Prada’s U.S. locations and its Milan store is a centerpiece of the partnership, Adyen says, and potentially …
• 5 June

  CFPB Lays Out Open Banking Standard Steps and other Digital Transactions News briefs from 6/5/24

  

  The Consumer Financial Protection Bureau said it has settled on a process by which companies can comply with an upcoming personal financial data rights rule related to open banking. Cloud-based phone-service provider Ooma Inc. announced an integration with Square, the point-of-sale unit of Block Inc., to incorporate Square transaction data into business communications …
• 4 June

  Enable Payments Across Any Platform with Payarc: Your Gateway to Superior Payments Services

  

  In the ever-evolving realm of payment processing, independent sales agents require more than just a partner – they need a strategic ally who understands their challenges and provides tailored solutions to propel them forward. Enter Payarc, a game-changer in the industry, offering unmatched support and opportunities that set agents apart …
• 4 June

  Eye on POS: With Cheq, Cantaloupe Furthers Its Push Into Sports Venues; InterPayments Launches Surcharging Tech

  

  Cantaloupe Inc. announced early Tuesday it will install its Cheq point-of-sale platform at professional soccer club Detroit City FC’s home stadium for all games and live events. Cantaloupe will begin providing POS services at the stadium in June as part of a multi-year deal. The deal builds on Cantaloupe’s acquisition …
• 4 June

  Visa Marks 10 Billion Tokens Since Launching the Technology a Decade Ago

  

  Visa Inc. says the 10 billion tokens it’s issued since 2014 are just the tipping point, as it expects Visa’s tokenized transactions to grow exponentially over the next several years. Visa announced the 10-billion milestone Tuesday. As of April, 29% of all transactions processed by Visa used tokens. Tokenization uses …
• 4 June

  FreedomPay Lands Big 5 and other Digital Transactions News briefs from 6/4/24

  

  FreedomPay Inc. said Big 5 Sporting Goods has signed with the company to process payments at its 424 stores throughout the U.S. market. Canada-based identity platform Trulioo said it will work with Mastercard to offer identity-verification services in onboarding both merchants and consumers to help prevent fraud. The Consumer Financial Protection Bureau finalized a rule …
• 3 June

  Payments Play a Critical Role in the Customer Experience, Discover Says

  

  Payments play a key role in consumers’ willingness to make repeat purchases from a merchant, according to Discover Financial Services Inc. Some 85% of consumers say a negative payment experience makes them less likely to interact with a business in the future, says Discover’s 2024 Payment State of the Union report. …
• 3 June

  Shift4 Makes a Big Card-Present Play in Europe With a Deal for Germany’s Vectron Systems

  

  Shift4 Payments Inc. confirmed early Monday it has reached an agreement to acquire the German point-of-sale technology company Vectron Systems AG at a price of 10.5 euros, or $11.42, per share. The offer represents a 50% premium to Vectron’s current share price, according to early reports. Information was not immediately …
• 3 June

  BNPL Displacing Store Cards and other Digital Transactions News briefs from 6/3/24

  

  Buy now, pay later installment plans are displacing store cards among consumers, with 64% of debit card holders reporting they have been offered an installment plan online, up from 45% four years ago, according to The Payments Report from Auriemma Research. Meanwhile, 39% report they own a store card, down from 53% …