With trillions of dollars in federal stimulus money sloshing around in the economy to help consumers who have lost their jobs due to Covid-19, fraudsters are ratcheting up their efforts to get a piece of that pie. Two popular plans of attack are imposter scams, where criminals impersonate representatives of …
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Stemming the Tide
Yet another unwelcome effect of the Covid-19 pandemic is a wave of chargebacks. What can acquirers, merchants, and issuers do to limit the damage? An increasingly serious manifestation of the economic damage caused by the Covid-19 pandemic is chargebacks, and plenty of them. With the outbreak freezing the economy for …
Read More »Synchrony Unveils Small-Business Aid Effort That Includes Digital Payment Tools
Store card provider Synchrony Financial on Wednesday launched a program that offers small businesses grants through community organizations and includes access to digital payment tools and consulting services. The initiative comes as many small businesses struggle with the economic disruption caused by the Covid-19 pandemic as well as closures and damage …
Read More »59% Shopping More Online and other Digital Transactions News briefs from 6/10/20
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 …
Read More »Overall Retail Sales Are in a Slump, But E-Commerce Is a Big Bright Spot
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. …
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 »The Next Big Market for ISVs
Here’s a look at the impact integrated payments can have on the vet industry. The global veterinary-services market is projected to reach $200 billion in 2020. Indeed, the landscape is quickly evolving, creating more demanding needs from practice managers looking to reduce costs, improve the customer experience, and generate revenue. …
Read More »Payments 3.0: Postal Banking? Yes, Within Limits
The U.S. Postal Service has become an unlikely flashpoint in the Covid-19 pandemic, finding itself at the center of arguments over relief funds both for institutions and consumers as its revenues have dropped during shelter-in-place periods around the country. The Post Office receives no taxpayer funds and has struggled financially …
Read More »2020 Sanctions Compliance Report
Today’s technology empowers organizations to engage a global pool of customers. But this digital reach is often accompanied by increased scrutiny to ensure your organization remains compliant with the latest sanctions regulations. As regulators prioritize sanctions compliance, those who negate this responsibility are unnecessarily setting themselves on a potential collision …
Read More »Priority Technology’s Sales Machine Kept Humming Even While Payment Volume Plunged 27%
It was a nasty April for Priority Technology Holdings Inc. as the Covid-19 business downturn tightened its grip, but the merchant acquirer is looking to integrated payments and other growth areas to soften the blow. “In the month of April we processed roughly $2.7 billion in volume, which was down …
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