Point-of-sale

April, 2020

• 16 April

  Moderation in Sales Trends Emerges in E-Commerce and Among Small Businesses

  

  Two reports analyzing sales at e-commerce merchants and small businesses during the Covid-19 pandemic indicate moderation in some categories may be happening. Many categories among e-commerce merchants moved a few percentage points for the week of April 7-13, according to the Covid-19 Weekly Pulse Report for E-commerce from San Jose, …
• 16 April

  Stripe Raises $600 Million and other Digital Transactions News briefs from 4/16/20

  

  Saying the Covid-19 pandemic “is pushing the economy online,” e-commerce payment processor Stripe Inc. announced it has raised another $600 million through an extension of its Series G funding round. Stripe said it will use the funding “to step up product development, global expansion, and strategic initiatives.”Payments provider Clearent launched Clearent EDU, a free …
• 14 April

  Chase’s Merchant Volume Rose 5% Despite a ‘Tale of Two Cities’ First Quarter

  

  JPMorgan Chase & Co., parent company of the nation’s biggest bank-owned merchant acquirer, managed to pull off a 5% increase in processing volume in the first quarter despite the restrictions on economic activity that took force in many states in the second half of March to control the Covid-19 pandemic. …
• 14 April

  eBay Names Walmart Exec as New CEO and other Digital Transactions News briefs from 4/14/20

  

  EBay Inc. named former Walmart Inc. executive Jamie Iannone chief executive officer, effective April 27. Iannone, who will succeed interim CEO Scott Schenkel, most recently served as chief operating officer of Walmart eCommerce and was at one time chief executive of SamsClub.com. EBay indicated earlier this year it has plans to …
• 13 April

  Groceries Are Up, Fuel Is Down, According to a PSCU Study of Credit And Debit Card Spending

  

  More consumers appear to be keeping their credit cards in their wallets when they shop. Credit union service organization PSCU says its data show that overall credit card spend among consumers who use credit and debit cards issued by credit unions working with PSCU is down 29.3% for the week …
• 10 April

  Some Small Businesses Are Seeing Higher Sales During Pandemic, ETA-Strawhecker Survey Finds

  

  The screeching slowdown in consumer spending caused by efforts to stem the spread of the Covid-19 pandemic has hit U.S. small businesses particularly hard, but there are some bright spots, according to the Electronic Transactions Association and merchant-acquiring research and consulting firm The Strawhecker Group. The survey of more than …
• 9 April

  An Analysis of Planned Changes to Network Rates Yields a Deep Impact for U.S. Merchants

  

  Visa Inc. and Mastercard Inc. have postponed their planned U.S. interchange revisions until July, but when these changes do take effect the net impact on merchants will be deep, according to an analysis released by CMSPi, an Atlanta-based global merchant payments consultancy. Indeed, the new pricing planned by the two …
• 9 April

  Repay Adds Funding Integration and other Digital Transactions News briefs from 4/9/20

  

  Payments-software provider Repay Holdings Corp. said it has integrated with lending-software vendor TurnKey Lender Inc., allowing financial institutions to fund loans at any time of day and accept loan payments by card or via the automated clearing house network through TurnKey’s platform or through mobile apps or other channels available to consumers.Upgrade …
• 8 April

  No Delay for Fuel EMV Shift Yet and other Digital Transactions News briefs from 4/8/20

  

  Visa Inc. reportedly denied a request to delay the Oct. 1 EMV liability shift for petroleum businesses, according to a ConvenienceStoreNews.com article, which says several fuel-retailing groups petitioned Visa for the delay. Visa, the Web site said, attributing it to NACS, an association for convenience store operators, is said to be monitoring the …
• 7 April

  POS System Providers Swing Their Sights on Aiding Restaurants

  

  Two point-of-sale system providers are taking action to help ailing restaurants as they contend with the repercussions of measures to stem the Covid-19 infection. First, TouchBistro Inc., a provider of payments technology for restaurants, launched its Restaurant Recovery Navigator, a collection of products and services aimed at helping dining establishments …