Digital Transactions Authoritative, insightful and timely information for payments professionals
Mastercard Inc. announced Amazon.com Inc. will start using tokens to replace actual customer card data throughout 2020. Tokenization replaces actual card data with data strings that are meaningless to outside parties. The process also permits automatic credential updating when cards expire.Payments card standards body EMVCo made it official—consumer-facing online-payment checkout options based on …
June, 2020
-
16 June
Eye on POS Systems: Lightspeed Adds E-Commerce Features and Revel Augments Online Ordering and Other Features
In the wake of Covid-19, merchants continue to see more features added to cloud-based point-of-sale systems. In the latest updates, Lightspeed POS Inc. introduced on Tuesday new e-commerce services, including shipping, curbside pick-up, and appointment setting. And Revel Systems Inc. has refined its online ordering and order-pickup management. First up, …
-
16 June
Square’s PPP Lending and other Digital Transactions News briefs from 6/16/20
Merchant processor Square Inc. said that as of June 10 its Square Capital service had facilitated more than $820 million in Paycheck Protection Program loans to 76,000 small businesses since April 29. PPP loans are part of the federal government’s stimulus program to combat the economic downturn caused by the Covid-19 pandemic.In …
-
15 June
AmEx Scores a First as China Approves Its Processing License
American Express Co. has become the first foreign payments company to be approved to clear domestic transactions in mainland China. The move comes with approval of a network clearing license over the weekend from the People’s Bank of China for Express Technology Services Co. Ltd., an AmEx joint venture with …
-
12 June
Panasonic Will Add PopID’s Facial Recognition And Payment Capability to Its Kiosk App
Restaurants using Panasonic Corp. of North America’s kiosk systems will have a new option for their consumers to order and pay, while limiting their contact, with the integration of facial recognition and payment technology from PopID Inc. Announced Thursday, the integration with the Panasonic ClearConnect Kiosk app means Panasonic and …
-
11 June
A New E-Commerce Normal? and other Digital Transactions News briefs from 6/11/20
E-commerce sales in Signifyd’s Covid-19 Weekly Pulse Report for E-Commerce dipped 8% for the week of June 2-8 compared to the prior seven-day period. With non-essential retail opening in many states, e-commerce sales may be settling into a new natural level, the report said.Retail sales in the CardFlight Small Business Impact Report for the …
-
10 June
Eye on Reopening: Tech Startups Hope To Meet an Overarching Need for Contactless Payments
As businesses reopen in the United States and abroad, many are looking to modernize their payments flows to minimize cash and maximize touch-free digital payments. Tech startups are stepping up in hopes of meeting the need. Late on Tuesday, a 5-year-old startup called Squire Technologies Inc. announced it had raised …
-
10 June
59% Shopping More Online and other Digital Transactions News briefs from 6/10/20
Fifty-nine percent of all respondents to a survey by CouponFollow LLC, a provider of discount codes for online shoppers, are doing more online shopping as a result of the Covid-19 pandemic, and that jumps to 65% when looking just at the Gen-Z generation.A technology startup called BellyMelly launched a food-ordering app that lets …
-
9 June
Store Failures Will Spike as Merchants Wrestle With Covid-19’s Wreckage, a Researcher Predicts
Despite tentative signs of an economic recovery from the coronavirus-induced depression, some experts are forecasting a gloomy outlook for store closures as the year plays out and merchants struggle with debt loads and a consumer shift to e-commerce. At least 20,000, and as many as 25,000, stores will likely shut …
-
8 June
Overall Retail Sales Are in a Slump, But E-Commerce Is a Big Bright Spot
Total U.S. retail sales, including auto and fuel, will drop 10.5%, to $4.894 trillion in 2020, a total not seen since 2016, forecasts eMarketer Inc. That’s sharper than the 8.2% slump in 2009, in the midst of that recession more than 10 years ago. E-commerce, however, is the bright spot. …