Point-of-sale

March, 2023

• 23 March

  The FTC’s ‘Click to Cancel’ Button And Other Digital Transactions News briefs from 3/23/23

  

  The Federal Trade Commission issued a proposed rule that would require sellers to offer a “click to cancel” button that customers could use to more easily stop subscriptions and recurring payments. A global survey on cross-border payments found 29% of mid-size and large U.S. businesses cite high transaction cost as a challenge, …
• 22 March

  Panera Bread Rolls Out the Amazon One Biometric Tech in Select Locations

  

  Panera Bread on Wednesday announced it is adopting Amazon One, Amazon.com Inc.’s biometric-payment technology, at select locations in the St. Louis area. The deployment of Amazon One, which links a customer’s payment card to his or her palm print, is expected to make it easier for Panera customers to access …
• 22 March

  Familiar Names Grace the Upper Reaches of the Latest Strawhecker Merchant Acquirer Directory

  

  No surprise, the top merchant acquirer by payment volume remains JPMorgan Chase & Co., according to the 2023 edition of Directory of U.S. Merchant Acquirers from TSG, formerly known as The Strawhecker Group. With volume of $2.15 trillion, Chase retained the top spot last year that it has held since …
• 22 March

  Tassat Preps for FedNow And Other Digital Transactions News briefs from 3/22/23

  

  Tassat Group Inc., a provider of real-time business-to-business payments based on blockchain technology, said its client-facing application programming interface enables an “on-ramp” to FedNow, the Federal Reserve’s real-time payments service, which is expected to begin commercial service in July. Liquidity Financial launched CauseCard, a Visa-branded debit card with a connected app …
• 21 March

  As Real-Time Payments Systems Gear Up, Finastra Launches a Multi-Network Software Offering

  

  With the Federal Reserve’s announcement last week that it will launch its FedNow real-time payments service in July, technology firms are jockeying for position as the appetite for faster payments grows worldwide. One big development emerged early Tuesday with an announcement from London-based payments-software firm Finastra Group Holdings Ltd. that …
• 21 March

  Bitcoin Depot Adds More ATMs And Other Digital Transactions News briefs from 3/21/23

  

  Lux Vending LLC, which does business as Bitcoin ATM operator Bitcoin Depot Inc., has agreed to deploy its machines in 125 locations owned by convenience-store chain GetGo Cafe + Market. Overall, Bitcoin Depot operates approximately 7,000 machines in 48 states and 10 Canadian provinces. Digital-currency provider Circle Internet Financial LLC said it has …
• 20 March

  Mastercard Snaps up Baffin Bay Networks for a Cybersecurity Boost

  

  Mastercard Inc. is adding another arrow of digital-security technology in its cybersecurity quiver with the acquisition of Baffin Bay Networks, a Sweden-based cybersecurity company. Payments companies constantly need advanced ways to counter fraud because criminals are relentless. In fact, credit card fraud accounted for 6.2% of digital fraud in 2020, …
• 17 March

  Banks Can Compete In BNPL, But Must Build Consumer Awareness at the POS, J.D. Power Says

  

  While the growth in buy now, later loans is prompting card issuers to enter the fray, one challenge they face is creating awareness, as card issuers do not make their BNPL offerings available at the point-of-sale. This is unlike BNPL specialists such as Affirm Holdings Inc., Klarna AB, and Sezzle …
• 17 March

  U.S. One of Two Markets with No Contactless Cap and other Digital Transactions News briefs from 3/17/23

  

  Merchant Machine, a United Kingdom-based payments information and comparison site, issued a report on contactless transaction limits around the world. Only two nations, Ecuador and the United States have no limit, though banks or merchants may set their own limits, Merchant Machine said. Payments-technology provider BHMI announced an entity-relationship component for its …
• 16 March

  The Fed Zeros in on July for the Launch of the FedNow Real-Time Payments Service

  

  The Federal Reserve late Wednesday narrowed the launch window for its FedNow real-time payments network to July of this year. The move comes seven months after the banking regulator announced it would introduce the service some time between May and July. Formal certification of system participants will start the first …