Point-of-sale

August, 2021

• 17 August

  Vending-Payments Specialist Cantaloupe Targets Micro-Markets With Its Deal for Yoke

  

  Building on a strategy of growing share of payments in the unattended retail market, Cantaloupe Inc. announced Tuesday its acquisition of Delicious Nutritious LLC, a Los Angeles-based micro-market payments company that operates under the trade name of Yoke Payments. The purchase price was not disclosed. The deal gives Cantaloupe, which earlier this …
• 17 August

  A 4X Increase in Phishing Attack Costs and other Digital Transactions News briefs from 8/17/21

  

  The overall costs of phishing attacks on businesses have nearly quadrupled since 2015, rising from average losses of $3.8 million per company in 2015 to $14.8 million in 2021, according to research from cybersecurity and compliance company Proofpoint Inc. and Ponemon Institute.Uplift Inc., a buy now, pay later provider specializing in travel, …
• 16 August

  How Paysafe Sees Its SafetyPay Deal As a Major Move Into Open Banking

  

  Open banking has been a big trend in payments for some time, and now traditional payment processors are getting in on the action. Paysafe Group Holdings Ltd. early on Monday announced it has agreed to pay $441 million to acquire Miami-based SafetyPay, a 15-year-old provider of digital payments for cash-paying …
• 16 August

  Mastercard’s Magstripe Farewell and other Digital Transactions News briefs from 8/16/21

  

  Mastercard Inc. said it will slowly phase out the requirement that its branded cards have a magnetic stripe in favor of the EMV chip. Beginning in 2024, in most markets, newly issued Mastercard credit and debit cards will not be required to bear the magstripe. By 2033, Mastercard said none of …
• 13 August

  Grocer Giant Eagle Furthers PayPal’s Push to Capture In-store Volume At Checkout

  

  With consumer use of mobile wallets growing, supermarket chain Giant Eagle, Inc. is adding PayPal and Venmo acceptance at checkout in its 474 Giant Eagle supermarkets and GetGo convenience stores. The move, announced Thursday, furthers PayPay Holdings Inc.’s efforts to capture in-store transactions through its mobile wallet. PayPal began its …
• 13 August

  WUBS Renames as Convera and other Digital Transactions News briefs from 8/13/21

  

  Western Union Business Solutions (WUBS), formerly a unit of the Western Union group of companies, will rename itself Convera upon its recently announced $910-million acquisition by Goldfinch Partners LLC and The Baupost Group LLC. Patrick Gauthier, most recently head of Amazon Pay, has been announced as chief executive of Convera, which …
• 12 August

  COMMENTARY: The Application of AML Regulation Will Be Good for Crypto Exchanges

  

  When talking about crypto exchanges, it’s common to divide them into the big, stable, safe, reliable ones on the one hand, and the little, unknown, shady, and suspicious ones on the other. However, the Financial Conduct Authority (FCA), the UK’s financial regulator, seems not to have a very high opinion …
• 12 August

  The DoJ Supports the Fed’s Debit-Routing Proposal, But Would Like to See it Toughened

  

  The U.S. Department of Justice on Wednesday lent its weight to a proposed rule from the Federal Reserve Board that would reinforce merchants’ choice of networks for e-commerce transactions arising from debit cards. At the same time, it suggested the rule could be made more stringent. Justice’s support for the …
• 12 August

  eBay’s Payments Payoff and other Digital Transactions News briefs from 8/12/21

  

  EBay Inc. reported some 80% of its on-platform payments volume was processed through its managed-payments service by the end of the second quarter. More than 13 million sellers globally were using the platform.Payment card manufacturer CPI Card Group Inc. said consumers’ shift to contactless cards, which command a higher price than ordinary plastic, helped drive …
• 11 August

  Merchants Redouble Their Efforts to Push the Fed on Debit’s Routing And Pricing Rules

  

  With a Federal Reserve deadline hitting Wednesday for comments on decade-old debit card regulations, large merchants are firing some last-minute salvos in hopes of influencing the Fed to make major revisions to rules governing transaction routing and pricing. “[M]ajor banks and networks continue to interfere with competition for debit business,” …