Point-of-sale

August, 2022

• 8 August

  BNPL User Counts Are Poised To Explode, So Lenders Must Differentiate Their Offerings

  

  The upward trajectory of buy now, pay later loans shows no signs of leveling off. By 2027, the number of BNPL users globally is projected to more than double, surpassing 900 million, up from 360 million in 2020, according to Juniper Research. The growth will be driven in part by …
• 8 August

  A Boom in Contactless Cards Helps Drive a Record Quarter for CPI Card Group

  

  Increasing issuance of contactless cards, along with stronger demand from instant-issuance platforms, are generating tailwinds for at least one of the companies that produce payment cards. CPI Card Group Inc. early Monday cited these factors in reporting record sales for the June quarter, leading top executives at the Littleton, Colo.-based …
• 8 August

  Forage Raises $22 Million And Other Digital Transactions News briefs from 8/8/22

  

  Forage Technology Corp., a payment processor specializing in SNAP EBT acceptance for grocers, said it raised $22 million in Series A funding led by venture capital firm Nyca with participation from PayPal Ventures, EO Ventures, and the founder of Instacart, a grocery delivery provider.Infinicept, an embedded payments specialist, launched Infiniport, its …
• 5 August

  MoneyGram Online Revenue Increased 13% and other Digital Transactions News briefs from 8/5/22

  

  MoneyGram International Inc. said its MoneyGram Online digital service had second quarter revenue of $53.3 million, up 13% from $47 million in the same quarter in 2021. Its overall revenue of $329.6 million in the quarter, was up slightly from $329.3 million revenue in the 2021 second quarter. MoneyGram posted a …
• 5 August

  Paya’s Boss Says the Acquisitive Processor Could Go Big on Future Deals

  

  Paya Holdings Inc. has been among the payments industry’s more acquisitive processors, and on Friday morning its chief executive made plain the company isn’t ruling out bigger deals. “You can see our balance sheet, our leverage, and the powder is certainly there to do larger transactions,” chief executive Jeff Hack …
• 4 August

  E-Commerce Merchants Drive Big Growth in FIS’s Second Quarter

  

  Processing and banking services giant FIS Inc. said revenue from its digital-only merchants increased 28% in the first half of the year, while its merchant solutions overall experienced a 12% growth in revenue in the second quarter. Jacksonville, Fla.-based FIS said continued e-commerce growth aided to that expansion. And it …
• 4 August

  Shift4 Spells Out Big Ambitions for Bigger Merchants And International Expansion

  

  Shift4 Payments Inc. has long made no secret of its plans to expand the average size of the merchants it serves, but early on Thursday its chief executive made the company’s overarching strategy crystal clear following recent signings of such international clients as Time Inc. and SpaceX’s Starlink satellite business, …
• 4 August

  July Sales up 11.2% And Other Digital Transactions News briefs from 8/4/22

  

  Mastercard Inc. said July retail sales increased 11.2% from July 2021. E-commerce sales were up 11.7% and in-store sales increased 11.1% for the same period.Payments provider ACI Worldwide Inc. reported $340 million in revenue for its June quarter, up 13% year-over-year.In related news, ACI’s Speedpay will integrate with the Vindicia platform from technology firm Amdocs …
• 3 August

  North American Banking Adds Real-Time Payments And Other Digital Transactions News briefs from 8/3/22

  

  North American Banking Co. said it can offer customers instant payments to and from any financial institution linked to The Clearing House Payments Co.’s Real Time Payment network. The new service relies on NABC’s ExcheQ application and technology from Open Payment Network.Payments provider Waitr Holdings Inc. announced it will provide stadium ordering to …
• 2 August

  ‘We Are…Regaining Our Momentum,’ Says PayPal’s Boss As Payments Volumes Grow

  

  After a few stumbles in recent months, PayPal Holdings Inc. returned to growth mode in its June quarter as the big payments provider refocused its energies on its basic businesses, including checkout, peer-to-peer payments, and the Braintree processing operation. “We are well under way toward regaining our momentum,” chief executive …