Digital Transactions Authoritative, insightful and timely information for payments professionals
In the face of the Covid-19 pandemic, 7-Eleven Inc. said its home-delivery service has added a “contactless” option in which customers can indicate they want the delivery left at the door. The company’s 7NOW delivery app counts more than 30 million enrolled households.MoneyGram International Inc. reported its online transactions grew 60% year-over-year in …
March, 2020
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17 March
American Express Expects Revenue Hit From Expanding Coronavirus Impacts
With the nation hunkering down to slow the spread of Covid-19, American Express Co. said Tuesday it expects its first-quarter revenues, adjusted for currency fluctuations, to grow only 2% to 4% year-over-year. In contrast, AmEx’s revenues net of interest expense rose 7% to $10.4 billion in 2019’s first quarter. In …
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17 March
Newly Formed Repay Reports a 44% Payment Volume Increase for 2019
Repay Holdings Corp. said its 2019 card payment volume of $10.7 billion was a 44% increase over the combined 2018 figures for its constituent units, the Atlanta-based processor reported Monday. Formed in mid-2019 through the merger of Hawk Parent Holdings LLC and a subsidiary of Thunder Bridge Acquisition Ltd., Repay …
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17 March
ETA’s Transact Canceled and other Digital Transactions News briefs from 3/17/20
Transact, the Electronic Transactions Association’s annual conference, has been canceled because of the Covid-19 public health emergency.Kount Inc. launched Kount Control, technology it says will allow companies to fight malicious logins and bots, credential stuffing, and brute-force attacks without interfering with legitimate transactions.Mobile-commerce provider Bango Plc said it is providing carrier-billing services for …
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16 March
The Coronavirus Is Likely To Hit Payment Firms’ Volumes And Profits, But Just How Hard Is Unknown
So, how much will Covid-19 have affected payment card dollar and transaction volumes when the card networks and merchant processors report their first-quarter financials beginning in about a month? At this point, it’s way too early to tell. An early read might come Tuesday when American Express Co. is scheduled …
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16 March
Nacha Cancels 2020 Payments Event and other Digital Transactions News briefs from 3/16/20
Nacha’s Smarter Faster Payments 2020 Conference has been canceled because of concerns related to the novel coronavirus. Nacha said it is trying to develop a free virtual event with select educational content. Next year’s conference is scheduled for April 25-28 in San Francisco.Dueling bills have been introduced in the Delaware Legislature that would …
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13 March
The ETA Grows Its Role in Canada to Fill a Void Left by ACT Canada’s Decision to Dissolve
The Electronic Transactions Association said Thursday it will take on a bigger role in Canada. The Washington, D.C.-based trade group, which has represented the interests of payments-technology and merchant-acquiring firms before the Canadian government for the past two years, will now also take on liaisons with the card networks and …
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13 March
Eye on Acquiring: Revel Starts Merchant Hardship Fund; SEAA Conference Moves to June
The unprecedented impact of dealing with the coronavirus outbreak encircling the globe has hit close to the payments industry. Several conferences have been postponed or canceled, and one vendor has set up a relief fund for merchants. Point-of-sale system maker Revel Systems Inc. created the Revel Relief Program, which can help …
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13 March
OTG Experience To Use Amazon Go Tech and other Digital Transactions News briefs from 3/13/20
Airport restaurant and retail operator OTG Experience LLC says it will be one of the first retailers to use Amazon.com Inc.’s “Just Walk Out” cashierless technology, the system that powers Amazon’s Amazon Go stores, when it opens a CIBO Express Gourmet Market next week in Terminal C of Newark Liberty International Airport.A technology …
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12 March
Eye on Covid-19: Payments Providers Hunker Down As an ATM Group Decries ‘The Scapegoating of Cash’
The electronic-payments industry is settling into a ride-it-out mode as panic selling resumed Thursday on Wall Street over the coronavirus, now deemed a pandemic by the World Health Organization. The Dow Jones Industrial Average opened down 1,700 points, and most payments stocks went over the cliff with it. In late-morning …
