Point-of-sale

September, 2023

• 11 September

  A Top Fed Official Points to Real Time Payments Progress While Eyeing Stablecoins Skeptically

  

  The Federal Reserve seeks to work closely with private-sector instant-payment services and plans to carve out a regulatory role to govern developments in stablecoins, a top official at the Fed said Friday. The remarks come in the wake of the Fed’s launch in July of its FedNow real-time payments network. …
• 11 September

  Zip Eyes Expansion And Other Digital Transactions News briefs from 9/11/23

  

  Buy now, pay later specialist Zip Co Ltd. said it is working with Primer, a payments and commerce provider, to expand and optimized its payments stack. The troubled cryptocurrency exchange FTX is seeking to reclaim millions in payments it made to celebrities and sports personalities prior to its November bankruptcy filing. Merchant services provider PayBright named …
• 8 September

  The CFPB Eyes Tech Firms’ Role in Governing Tap-to-Pay

  

  The Consumer Financial Protection Bureau late Thursday released a report raising questions about the part restrictions imposed by big technology firms like Apple Inc. and Alphabet Inc’s Google subsidiary may play in hampering innovation, consumer choice, and the growth of open and decentralized banking and payments in the U.S. The …
• 8 September

  Square Outage Disrupts Transactions And Other Digital Transactions News briefs from 9/8/23

  

  Block Inc.’s Square and Cash App units began experiencing system outages late Thursday, according to news reports. Cash App’s outage reportedly affected peer-to-peer payments, cash-ins, and cash card transactions. At Square, engineers reported early Friday they were deploying a solution. Point-of-sale system maker iPOS Systems has enabled Tap to Pay on iPhone for U.S. …
• 7 September

  Eye on Fraud: Global Ransomware Attacks Soar to a Monthly High; Cyber Attacks Hit Hospitality Merchants

  Monthly global ransomware attacks hit an all-time high in March, totaling 460. That’s a 62% increase from the same period a year earlier, and a 91% increase from the prior month, according to the fall edition of Visa Inc.’s 2023 Biannual Threats Report. Leading causes for ransomware attacks are criminals …
• 7 September

  Eye on Cannabis: POSaBIT POS 2.0 Debuts; Organic Payment Gateways’ New Program

  

  Though not as credit and debit card friendly as some industries, the legalized cannabis industry continues to create opportunities for payments companies. Among the latest developments are the release of POSaBIT Systems Corp.’s latest point-of-sale system and a new program from Organic Payment Gateways. Bellevue, Wash.-based POSaBIT says its POSaBIT …
• 7 September

  Cantaloupe Volume up 14%And Other Digital Transactions News briefs from 9/7/23

  

  Cantaloupe Inc., a payments provider for the vending and self-service industries, reported it processed $703.5 million in volume in the June quarter, up 14% year-over-year, on 278.6 million transactions, up slightly from 274.6 million. It collected $64.2 million in revenue, an 11% rise. In a letter to shareholders, Innovative Payment Solutions …
• 6 September

  Browns Stadium Opts for Clover Sport Point-of-Sale System

  

  When the Cleveland Browns open their 2023 NFL home stand Sunday, fans at the stadium using credit and debit cards will be tapping and dipping via new Clover Sport devices. Announced Wednesday, the nearly 500-device installation in concession and premium-seating locations in the Cleveland Browns Stadium will make the arena …
• 6 September

  Moving Cards from Plastic to Paper And Other Digital Transactions News briefs from 9/6/23

  

  Prepaid card platform Blackhawk Network said it is working with Visa Inc. to convert its Visa-branded cards from plastic to paper-based materials. Payments provider Central Payments released PayCP, its payout platform that initially includes a virtual Discover prepaid card, a physical Discover prepaid card, push to debit cards via Mastercard Send, and ACH bank …
• 5 September

  Infinicept Offers Launchpay, a Path for Software Companies to Become a Payfac

  

  Infinicept, a provider of embedded payments, Tuesday introduced Launchpay, a payment facilitator (Payfac)-as-a-service model for software companies not yet ready to become full-scale payment facilitators. Payment facilitators allow customers to accept electronic payments using their platform through a master merchant account. Examples of Payfacs include Block Inc.’s Square merchant-processing unit …