News

November, 2024

• 8 November

  Block Focuses on Using Loans, Afterpay, and Cash App to Power Its Growth

  

  The big payments platform Block Inc. will remain focused on its Afterpay buy now, pay later offering, on its Cash App digital wallet, and on increasing access to Square Loans, said Block chief executive Jack Dorsey late Thursday during the company’s third-quarter earnings call. Dorsey stressed the key importance of …
• 8 November

  Eye on Crypto: Detroit To Accept Crypto in 2025; Alchemy Pay Doubles U.S. Licenses

  

  The Motor City will add cryptocurrency payments for taxes and some fees in 2025, while Alchemy Pay gains money-transmitter licensing approvals in four U.S. states. Detroit will begin accepting cryptocurrencies for city fees and taxes, becoming the largest U.S. city so far to do so, says a statement from Mayor …
• 8 November

  Toast Revenue up 24% and other Digital Transactions News briefs from 11/8/24

  

  Dining-payments specialist Toast Inc. reported gross payment volume grew 24% in its September quarter compared to the same period last year, reaching $41.7 billion, while locations using its technology were up 28% to almost 127,000. Revenue for the quarter reached $1.3 billion, up 26%; for the nine months through September, revenue totaled …
• 7 November

  Nearly Half of Consumers Say They’re More Satisfied With Their Card Issuer After Suffering Fraud, As Fraud Remains a Threat

  

  Despite the ever-present threat of fraud, almost half of consumers tend to have a more positive opinion of their credit card issuer after becoming fraud victims, according to J.D. Power’s “U.S. Financial Protection Satisfaction Study,” released Thursday. Some 49% of credit card holders say they have a more positive impression …
• 7 November

  Amid a Drop in Hardware Sales, Lightspeed’s Revenue Rises 20%; NCR Voyix Reverses a Quarterly Loss

  

  Point-of-sale system maker Lightspeed Commerce Inc.’s transaction-based revenue jumped 33.5%, according to the company’s fiscal second quarter results ended Sept. 30. Meanwhile rival NCR Voyix Corp. posted $1.1 billion in net income in its third-quarter revenue, reversing a year-ago loss. Montreal-based Lightspeed says its transaction-based revenue totaled $183.8 million in …
• 7 November

  More Grocers Pick Instacart  and other Digital Transactions News briefs from 11/7/24

  

  Instacart, a technology provider for the grocery industry, announced that four grocery companies — Sprouts, Harmons, The Save Mart Companies, and Rosauers — have adopted Instacart Storefront Pro, an e-commerce platform aimed at grocers. More than 600 retailers are using Instacart’s e-commerce technology, the company says. Payments provider Priority Technology Holdings Inc. reported September-quarter merchant bank-card …
• 6 November

  Blackhawk Network Launches Digital Cards With Its Visa And Mastercard Branded e-Gift Products

  

  The Blackhawk Network has entered the digital card space with the launch of Visa- and Mastercard-branded e-gift cards that can be used in-store and online. The launch builds on consumers’ growing preferences for QR-code and tap-to-pay technology, the prepaid card company says, as both technologies help streamline the payment process …
• 6 November

  COMMENTARY: It’s Time to Stiffen Defenses Against Payment Fraud

  

  Recent headlines prove that payment fraud continues to pose an ever-growing threat to businesses of all sizes. As payment methods evolve, so do the sophisticated tactics employed by fraudsters, creating a payment-protection predicament for businesses. According to the Association for Financial Professionals, 80% of organizations were victimized by payment fraud in 2023, …
• 6 November

  Shift4’s ConnexPay Tie-in and other Digital Transactions News briefs from 11/6/24

  

  Processor Shift4 Payments Inc. said it will integrate payment-issuance technology from payments provider ConnexPay for online travel agencies operating in the United Kingdom and Europe. The Dow Jones Industrial Average gained 1,100 points in early trading Wednesday as at least five payments companies—including Visa Inc. and American Express Co.—reached all-time highs. The skyrocketing market …
• 5 November

  Strong Growth in Card Sales and Services Boost CPI’s Top Line

  

  Net sales for payment card producer CPI Card Group Inc. jumped 18% in the third quarter as card issuers boosted orders for credit, debit and prepaid cards and CPI’s services offerings. It was the second straight quarter of sales increases for Littleton, Colo.-based CPI following 7% decreases in the first …