Restaurants using Panasonic Corp. of North America’s kiosk systems will have a new option for their consumers to order and pay, while limiting their contact, with the integration of facial recognition and payment technology from PopID Inc. Announced Thursday, the integration with the Panasonic ClearConnect Kiosk app means Panasonic and …
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COMMENTARY: How a Global Pandemic Changed Payments
COVID-19 has shaken the global economy. Social distancing has drastically shifted consumer behavior and introduced a new set of challenges to stores and shoppers alike. For merchants, it has been difficult to manage a dip in discretionary spending, a rapidly increasing number of online shoppers, and an explosion of competition …
Read More »A New E-Commerce Normal? and other Digital Transactions News briefs from 6/11/20
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 …
Read More »Store Failures Will Spike as Merchants Wrestle With Covid-19’s Wreckage, a Researcher Predicts
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 …
Read More »VizyPay, Clover, And Cash Discounts and other Digital Transactions News briefs from 6/9/20
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 …
Read More »Merchants Bracing for Higher Reserve Requirements From Acquirers
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 …
Read More »Covid-19’s Payment Choice Impact and other Digital Transactions News briefs from 6/8/20
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 …
Read More »Visa Reports Improving Volume Trends in May
U.S. payment volume growth was still in negative territory in May thanks to the Covid-19 pandemic, but the picture was brighter than it was in April, Visa Inc. reported late Monday. “In May, total U.S. payments volume declined 5% year-over-year, a 13 percentage point (ppt) improvement over April,” Visa said …
Read More »ACH Sender Receives Certification and other Digital Transactions News briefs from 6/1/20
Nacha, the automated clearing house rule maker, awarded its Nacha Certified status to Secure Payment Systems. Nacha Certified is a voluntary program for third-party senders.ACI Worldwide Inc. said Conductor, a Brazil-based processor, is entering the Latin American acquiring business using ACI’s UP Retail Payments and UP Payments Risk Management software products.Tokyo-based …
Read More »Cooking up a Comeback
Restaurants and point-of-sale providers alike are scrambling to stage a fast recovery from an induced coronavirus coma. Success will depend on technologies like contactless payments and online ordering. Americans love dining out. In 2020, restaurant industry sales were originally projected to grow for the 11th consecutive year, reaching a record …
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