Transaction Processing

E-commerce sales in Signifyd’s Covid-19 Weekly Pulse Report for E-Commerce dipped 8% for the week of June 2-8 compared to the prior seven-day period. With non-essential retail opening in many states, e-commerce sales may be settling into a new natural level, the report said.Retail sales in the CardFlight Small Business Impact Report for the …

As businesses reopen in the United States and abroad, many are looking to modernize their payments flows to minimize cash and maximize touch-free digital payments. Tech startups are stepping up in hopes of meeting the need. Late on Tuesday, a 5-year-old startup called Squire Technologies Inc. announced it had raised …

With chargeback costs poised to grow an estimated 52% by 2023 for U.S. payment card issuers alone, issuers as well as merchants and merchant acquirers have every incentive to reduce those costs. And one way they could do it is by providing more transaction detail on consumers’ online credit card …

Fifty-nine percent of all respondents to a survey by CouponFollow LLC, a provider of discount codes for online shoppers, are doing more online shopping as a result of the Covid-19 pandemic, and that jumps to 65% when looking just at the Gen-Z generation.A technology startup called BellyMelly launched a food-ordering app that lets …

Despite tentative signs of an economic recovery from the coronavirus-induced depression, some experts are forecasting a gloomy outlook for store closures as the year plays out and merchants struggle with debt loads and a consumer shift to e-commerce. At least 20,000, and as many as 25,000, stores will likely shut …

Paysafe Group has big ambitions for its Skrill financial products in the United States. Monday’s U.S. launch of the Skrill Money Transfer service is but the first step of a broader U.S. expansion for Skrill, says Lorenzo Pellegrino, a Paysafe executive. The free money-transfer service followed January’s debut of the …

Independent sales organization VizyPay LLC launched a cash-discount app for Fiserv Inc.’s Clover point-of-sale systems; the app, an extension of VizyPay’s cash-discount program, is available in the Clover App Market.MoneyGram International Inc. reported a doubling of its digital-transaction volume in May from May a year ago. Growth in this category in the first …

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. …

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 …

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 …