With global economies expected to re-open as more consumers receive Covid-19 vaccinations, in-store retail spending will hit $22.8 trillion worldwide in 2022. That’s after in-store sales fell 7% in 2020 as many consumers shifted purchases online. The projection comes from London-based Kaleido Intelligence Ltd.  While the Covid-19 pandemic impacted in-store …

Contactless payments at small businesses served by point-of-sale technology provider CardFlight Inc. soared 296% in the past year, according to the payments provider’s latest Small Business Report. The report, initiated a year ago at the start of the Covid-19 pandemic, also found that overall sales at small businesses increased 56% …

In response to erroneous reports about funds availability, The Clearing House Payments Co., Nacha, and seven other banking and payments groups said Tuesday that Economic Impact Payments from the federal government will start to become available to recipients Wednesday morning. A statement from the nine groups, plus a separate statement …

Debit is the most preferred payment option among consumers and contactless payments have doubled in the year since the declaration of the Covid-19 pandemic. That’s the assessment from the “Tracking Transaction Trends” report for the week ending March 7 from PSCU, a credit union service organization. Debit card spend for …

Canadian processor Lightspeed POS Inc. announced Friday it has entered into an agreement to acquire Vend Ltd., a New Zealand-based provider of cloud-based retail management software. The cash and stock deal is valued at $350 million. Lightspeed will pay $192.5 million in cash and issue subordinate voting shares in the …

By shifting stores and consumers to contactless payment, the pandemic made it easier to stop fraud.  One year into a global pandemic, and our lives will never be the same. The way we work, shop, travel, and entertain ourselves have all seen major changes during a year of living surrounded …

Thirteen months ago, processors were on cruise control when it came to servicing merchants. Then, the pandemic struck and upended their business model. How have they adapted to the new normal? For payment processors, the past 12 months have given a whole new meaning to the phrase “dynamic industry.” The …

The horrible global pandemic has created a massive shift towards e-commerce, and the fraudsters could not be happier.  Online, the only difference between a legitimate transaction and a fraudulent one is the possession of a small piece of data which the bona fide trader holds, and the fraudster presumably does …

Now that criminals have milked the bulk of their opportunities related to pandemic relief efforts, they are turning their attention back to their old standby, payments-related fraud. Not surprisingly, their target of choice is e-commerce, which has rocketed due to restrictions on the number of consumers allowed in physical stores and …