Point-of-sale

July, 2021

• 23 July

  Consumer Spending Helps Put AmEx Within a Whisker of Pre-Pandemic Times

  

  American Express Co. posted second-quarter numbers Friday indicating the card giant is very nearly back to its pre-pandemic performance and reflecting a steady recovery from the travel restrictions that hampered the company for most of 2020. Driving the improved results was steady improvement in the company’s vital travel-and-entertainment business and …
• 23 July

  Paystand Secures $50 Million in Funding and other Digital Transactions News briefs from 7/23/21

  

  Blockchain-based business-to-business payments network Paystand Inc. announced a $50-million Series C funding round led by NewView Capital.Payments provider Paystone Inc. received a $30-million investment from Credit Mutuel Equity. Paystone said it will use the funds to fuel growth.ForumPay, whose technology converts cryptocurrency spent by consumers into fiat currency for processing, said it will work with …
• 23 July

  COMMENTARY: Could PayPal’s Latest Fee Boost Make It the Merchant Lobby’s Next Target?

  

  The yin and yang of political, and ferociously commercial, PayPal was vividly on display with its announcement last month of a massive price hike. The e-commerce phenom attaches itself to an array of woke causes but remains a wonderfully hard-nosed commercial enterprise, keen to be fully compensated for the enormous value …
• 22 July

  Visa Agrees to Lay out Nearly $1 Billion to Acquire Britain’s Cross-Border Specialist Currencycloud

  

  Visa Inc. has been concentrating on building out its “network-of-networks” strategy for some time, and it’s latest move in that project came early Thursday with the news that it has agreed to acquire Currency Cloud Ltd., a London-based developer of application programming interfaces that can simplify cross-border payments. The deal values …
• 22 July

  Discover’s Payment Volume Increased 22% and other Digital Transactions News briefs from 7/22/21

  

  Discover Financial Services reports its payment services volume of $78.4 billion for the second quarter of 2021 increased 22% from $64.5 billion in the same period a year ago. Its Pulse network dollar volume of $62.9 billion increased 18% from $52.9 billion year-over-year. Discover card sale volume of $45.6 billion increased …
• 21 July

  Most Consumers Want To Decrease Credit Card Use As BNPL And Debit Gain Favor, a Survey Finds

  

  A majority of U.S. consumers in all age groups—76%—would like to decrease their use of credit cards as they seek to avoid debt, are wary of their ability to pay off their balances each month, and have concerns about making the minimum payments, according to a survey from GoCardless Ltd., …
• 21 July

  COMMENTARY: The Case for Cryptocurrencies As the Future of Digital Payments

  

  The history of payments in the last century has been a fascinating journey. From gold-backed paper currency to a fiat model that grew beside the convenient credit card system, the method in which we transact has always been reflective of society’s technological capabilities at that time. Even as late as …
• 21 July

  Veem Adds Products for SMBs and other Digital Transasctions News briefs from 7/21/21

  

  Payments provider Veem Inc. launched several new products for small businesses, including Veem Invoicing and Veem Collections.Cryptocurrency platform OKCoin USA Inc. has chosen FIS’s Worldpay unit to provide merchant acquiring and global exchange service in support of OKCoin’s ongoing global expansion.Visa Inc. said it will launch later this year an “evolved” brand identity featuring refreshed …
• 20 July

  Sezzle Capital Debuts and other Digital Transactions New briefs from 7/20/21

  

  Buy now, pay later provider Sezzle Inc. launched Sezzle Capital, a program that provides working capital up to $10 million to qualified merchants. The service is built on the Wayflyer funding platform.Square Inc. launched Square Banking, based on the company’s industrial bank, Square Financial Services, which began operating in March. The banking offering consists …
• 19 July

  Infinicept Launches a Network to Help Link Software Firms With Payments Resources

  

  For years, one of the fastest-growing trends in payments has been the idea of weaving transactional capability into business and consumer software. Now, one of the most prominent platforms in that business has launched a network to help connect software firms with payments companies and resources. “We’re doubling down on …