Point-of-sale

June, 2020

• 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. …
• 8 June

  Merchants Bracing for Higher Reserve Requirements From Acquirers

  

  The economy is slowly thawing from its Covid-19 freeze-up, but many card-accepting merchants are struggling with more chargebacks stemming from canceled trips, non-delivery of goods, or other reasons. And some of them also are dealing with demands from their merchant acquirers for more cash to fund reserve accounts. Payments and …
• 8 June

  Covid-19’s Payment Choice Impact and other Digital Transactions News briefs from 6/8/20

  

  Fearing Covid-19, consumers are less likely to use any method to make a payment in a store these days, but 20% say they have used a smart phone or smart watch do so in the past week, no change from a year ago, even though fewer say they have used a debit …
• 5 June

  Merchant Acquirer Shift4 Payments Prices IPO Above Expected Range

  

  Investors appear eager to buy stocks of payment-processing companies as evidenced Thursday by Shift4 Payments Inc. pricing its initial public offering at $23 per share, nearly 10% above the high end of the $19 to $21 range it had expected just days earlier. Shift4’s shares opened late Friday morning on …
• 5 June

  Touch-Free Commerce Takes Root As Contactless Payments Surge 150% Among Cardknox Merchants

  

  More evidence that consumers are finally adopting contactless payments emerged  as Cardknox, a payment gateway, noted a 150% increase in contactless payment use from just from November to April. Announced Thursday, the increase, albeit lacking volume details, indicates consumers’ mindfulness about reducing physical contact with point-of-sale terminals. Cardknox said some of …
• 4 June

  Huntington Adds TCH’s Real Time Payments Service and other Digital Transactions News briefs from 6/4/20

  

  Huntington Bancshares Inc. has made the Real Time Payments service from The Clearing House Payments Co. available to its consumer and business customers. Huntington has 839 branches and 1,434 ATMs in seven Midwestern states.Processor Fiserv Inc. introduced its FlexLine Advance service that enables holders of credit cards issued by Fiserv client banks and credit unions to …
• 4 June

  Eye on Parking: A Venue Manager Preps for a Contactless Reopening; ParkMobile Lands Three Cities

  

  Expectations that consumers will seek out live entertainment with some mindfulness about actually touching point-of-sale terminals is part of the reason for venue manager Spectra to strike a multiyear deal with parking specialist ParkHub Inc. Announced Wednesday, the deal will see ParkHub provide mobile point-of-sale technology that enables contactless payments. It …
• 2 June

  Visa Reports Improving Volume Trends in May

  

  U.S. payment volume growth was still in negative territory in May thanks to the Covid-19 pandemic, but the picture was brighter than it was in April, Visa Inc. reported late Monday. “In May, total U.S. payments volume declined 5% year-over-year, a 13 percentage point (ppt) improvement over April,” Visa said …
• 2 June

  Konnect’s M-Payments Restaurant Service Debuts and other Digital Transactions News briefs from 6/2/20

  

  Konnect Solutions Inc. introduced a mobile-payments service for restaurants that allows customers to pay inside or in drive-throughs by choosing the restaurant’s local WiFi wireless access point to view a menu, place an order, and access the restaurant’s point-of-sale system. They can pay on their phone or use options offered by …
• 1 June

  Shift4 Looks to Raise Up to $315 Million Through Its IPO

  

  Shift4 Payments Inc.’s pending initial public offering took a step forward Monday when the merchant processor filed an amended prospectus stating it plans to sell 15 million shares of common stock at a range of $19 to $21 per share. At the maximum price, the sale would yield $315 million …