Point-of-sale

February, 2023

• 9 February

  Affirm Cuts 19% of Its Workforce As Heightened Interest Rates Buffet Its Results

  

  The buy now, pay later trend has lifted a wide range of companies specializing in these online and point-of-sale installment-payment products, not least Affirm Holdings Inc. But late on Wednesday the 11-year-old company reported subpar results for its December quarter and announced it is dismissing 19% of its workforce. The …
• 9 February

  BofA’s 608 Patents in 2022 And Other Digital Transactions News briefs from 2/9/23

  

  Bank of America Corp. said the 608 patents it received in 2022 was a record number and was 19% more than in 2021, with grants covering areas such as mobile banking and payments, machine learning, artificial intelligence, and other technologies. Kasheesh, a digital payments platform than enables consumers to split payments …
• 8 February

  Visa Rolls Out Incentives for Small Businesses To Use Its Business Card And Accept Digital Payments

  

  Seeking to entice small businesses to pay for purchases using their Visa business card, Visa Inc. on Wednesday launched Visa SavingsEdge, a program that rewards small businesses that have Visa business cards with savings and discounts on business-related services from about 60 merchants. The rewards and incentives include everyday savings …
• 8 February

  The Potential to Choose Foreign Networks Worries Backers of Credit Card Choice

  

  A bill designed to allow merchants to have a choice of networks for routing credit card transactions failed to pass last year, but now international tensions could affect the proposed law’s prospects in the new Congress. The bill, called the Credit Card Competition Act, would mandate that merchants have a …
• 8 February

  What Drives Cart Abandonment And Other Digital Transactions News briefs from 2/8/23

  

  Cost surprises at checkout are the leading cause of cart abandonment, with 57% of consumers saying they walked away from checkout at least once in the past year because of unexpected delivery costs, according to a wide-ranging shopping report released by point-of-sale technology provider Verifone Inc., which surveyed 995 respondents globally. Price …
• 7 February

  Fiserv “Is Better Than the Sum of Its Parts,” Its CEO Says As It Finishes ‘22 With Double-Digit Growth

  

  Merchant acceptance, payments, and network and financial technology were the key pillars propelling Fiserv Inc.’s better -than-expected organic growth during the fourth quarter and for fiscal year 2022. Organic revenue growth—growth apart from recent acquisitions—for the three core segments of Fiserv’s business increased 17%, 9%, and 5%, respectively, compared to …
• 7 February

  Real-Time Payments Tee up in Separate Sionic And Oracle Offerings

  

  Real-time payments are getting more attention in financial services, and vendors are quickly enabling the faster-payment capability. Among the latest to do so is Sionic Corp., with its suite of services that includes its Verified Rapid Payments, and Oracle Corp., with a new set of cloud-based banking services. Atlanta-based Sionic …
• 6 February

  The U.S. Payments Forum Releases a Paper to Help Boost Sellers’ Adoption of PINless Debit

  

  Seeking to improve merchant adoption of PINless debit transactions, the U.S. Payments Forum Monday released a white paper detailing the potential obstacles to PINless debit implementation in the United States and how they can be overcome. One advantage of PINless debit transactions is that they can be processed faster than PIN-based debit transactions, …
• 3 February

  Sightline Brands Its Proprietary Gaming Card With Visa

  

  With sports betting and casino gambling steadily gaining prominence as a payments market, payment processors are increasingly jumping on the opportunities the market presents. In the latest development, gaming-payments specialist Sightline Payments said it will offer its Play+ card, which has attracted 1.5 million users so far, as a Visa-branded …
• 3 February

  Amazon’s 2022 Performance And Other Digital Transactions News briefs from 2/3/23

  

  Amazon.com Inc. reported net sales of $514 billion for 2022, up 9% over 2021, excluding an impact from changes in foreign-exchange rates. Sales in the North American market grew 13% over 2021, to $315.9 billion. The company recorded an operating loss of $2.8 billion in North America, swinging from a positive …