As if the payments business wasn’t enough of an alphabet soup, QR codes are now vying with NFC for dominance in mobile payments. Which technology will win out at the point of sale? In the United States, unlike many other parts of the world, near-field communication has been the favored …
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Does Cash Need Legal Protection in Stores?
Efforts to ban cashless stores are afoot in New Jersey and some of the nation’s largest cities, including New York. But does cash really need legal protection from payment cards and mobile wallets? That’s the question public officials as well as payments and retail executives are mulling. Opponents of cashless …
Read More »Kroger Takes the Proprietary Route in Mobile Payments
Grocery-store giant The Kroger Co. is joining the ranks of retailers with a proprietary mobile-payments service, and adding a debit card to boot. Cincinnati-based Kroger, which has 2,800 stores under numerous banners, last month unveiled Kroger Pay and its accompanying Kroger Rewards debit card. Kroger Pay, available for iOS and …
Read More »Consumer Finance at the Point of Sale Takes a Big Step Ahead As Affirm Clinches a Walmart Deal
The 7-year-old startup Affirm Inc. has already signed up more than 2,000 merchants to accept its instant-financing option, but on Wednesday it announced it had bagged the biggest one of all: Walmart Inc. In a move that extends Affirm to the physical point of sale in a major way, users …
Read More »POS Developer Adds Stripe Terminal Support for Card-Present Transactions
SuiteRetail, a Wilmington, Del.-based point-of-sale software developer, completed integration of Stripe Inc.’s merchant-processing services into its apps, giving merchants the ability to use Stripe for their in-store and online transactions. Merchants using SuiteRetail’s SuitePOS for NetSuite or Salesforce now can complete their online processor and store set-up for Stripe. The …
Read More »Network Fee Boosts Are Taking a Big Bite out of Merchants’ Durbin Savings, Research Says
A bevy of fees levied by the two major card networks is offsetting much of the fee relief merchants receive from the 7-year-old Durbin Amendment, according to new findings from a payments-research firm that is studying the issue on behalf of the retail industry. While the Durbin caps on debit …
Read More »Goldman Sachs in Apple Credit Card Deal and other Digital Transactions News briefs from 2/21/19
Apple Inc. and the Goldman Sachs Group Inc. will begin issuing a joint credit card this spring, The Wall Street Journal reported. The new card will tie into the Apple Wallet. Apple’s brand already is on a credit card issued by Barclaycard. It is unknown what will happen to that …
Read More »NAB Integrates With Vend and other Digital Transactions News briefs from 2/20/19
Payments provider North American Bancard Holdings LLC said it is integrating its capabilities with retail-management and point-of-sale software provider Vend. The joint service will be available to retailers through NAB’s resellers. Digital Debit Group, a unit of Qondado LLC, released a Quick Response code-based app for iOS and Android devices …
Read More »Apple Pay Adoption Reaches 43% of iPhone Users, Up From 36% Just Five Months Ago
Apple Pay adoption show no signs of abating, with an estimated 43% of iPhone users across the globe enabling the mobile-payments service, says Loup Ventures LLC in a research note released Tuesday. That’s up from 36% in September and 20% in December 2017. Other estimates from the Minneapolis-based venture-capital firm …
Read More »ATM Deployer Paramount Makes Acquisition and other Digital Transactions News briefs from 2/19/19
ATM and payment-services provider Paramount Management Group LLC acquired CAI—The ATM Company, an independent deployer with thousands of ATMs in New Jersey, New York, Connecticut and other states. Terms of the acquisition were not disclosed. A partnership between Transaction Network Services and P97 Networks has processed in-dash fuel payments for …
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