Point-of-sale

February, 2023

• 27 February

  Co-op Solutions Debuts a Debit Network for Credit Unions

  

  Credit unions wanting another option among debit card networks have a new choice with the launch of Co-op Solutions’ Co-op Pay Network. Announced Monday, the network is open to all credit unions, regardless of their debit-processing relationships. The new network, which works with regular point-of-sale transactions, PINless transactions, mobile wallets, …
• 24 February

  Western Union in Money Transfer Boost Deal and other Digital Transactions News briefs from 2/24/23

  

  The Western Union Co. has collaborated with the fintech Beforepay to offer users in Australia the option of boosting money transfers with loans up to 2,000 Australian dollars ($1,349 US) in a service billed as send now, pay later. American Express Co., working with the National Trust for Historic Preservation, will …
• 23 February

  Block Resets to Focus on Slowing Expenses And Speeding Profit Growth

  

  Block Inc. has been a fast-growing payments machine over the years since its founding in 2009, and now the company is looking to slow down somewhat and focus more intently on profit growth, according to top executives. That move could start with personnel. “We plan on slowing our pace of …
• 23 February

  Stripe Launches Tap to Pay for Android Devices in Six Countries

  

  Stripe Inc. late Wednesday announced it is making Tap to Pay functionality for Android phones and tablets available in the United States, the United Kingdom, Canada, New Zealand, Australia, and Singapore. The San Francisco-based processor launched Tap to Pay for iPhone last year. The addition of Tap to Pay for …
• 23 February

  Nuvei Closes Paya Deal And Other Digital Transactions News briefs from 2/23/23

  

  Payments provider Nuvei Corp. closed on its previously announced $1.3-billion deal to acquire Paya Holdings Inc. Nuvei will release fourth-quarter and full-year 2022 results on March 8. Earlier this week, Paya released figures indicating its 2022 payments volume totaled $49.5 billion, with 2022 revenue of $282.7 million and net income of $8.3 million. Processor Evertec …
• 22 February

  U.S. Consumers Now Loom Large for Sweden’s Klarna

  

  The United States has become buy now, pay later provider Klarna AB’s largest market by revenue, the company announced Tuesday. BNPL use blossomed during the pandemic and continues to find favor as inflation concerns push consumers to make value-based spending decisions. With 8 million monthly active users of the Klarna …
• 22 February

  42% of Income Spent on Bills And Other Digital Transactions News briefs from 2/22/23

  

  The average U.S. household spends $29,459 per year on bills, amounting to 42% of income, according to the “2023 U.S. Bill Pay Market Size & Category Breakout Report” from bill-pay processor doxo. Mission Lane, a fintech providing access to credit and debit products to more than 2 million consumers, said it …
• 21 February

  As FedNow Prepares for Launch, Bankers’ Banks Enlist Help for Real-Time Payments

  

  With the launch of the Federal Reserve’s FedNow real-time payment service expected by mid-year, payments players are lining up clients to take advantage of the service. The latest is Pidgin Inc., a startup payments platform specializing in supporting financial institutions. The Atlanta-based company early Tuesday announced that Community Bankers’ Bank …
• 21 February

  PayJunction Readies A2A Integration And Other Digital Transactions News briefs from 2/21/23

  

  Payments provider PayJunction released an updated version of its developer toolset to enable software companies to integrate account-to-account bank transfer connectivity within their platforms. Equipifi, a white-label buy now, pay later provider, said customers of credit union ACU of Texas can now use BNPL as a payment method with their existing debit …
• 20 February

  Serving 10,000 Vet Clinics, Vetsource Launches a Processing Capability

  

  Vetsource, a provider of technology, pharmacy, and business services to veterinary practices, has added payment processing capabilities to its platform. In addition to supporting credit and debit cards, e-wallets, and online and automated clearing house payment-processing options, Vetsource says its new service will enable veterinary practices to offer payment methods …