Visa Inc. on Wednesday introduced to the general public its Visa Spending Momentum Index, a measure of what the global payments network calls “the health of consumer spending,” and the latest number indicates the U.S. economy is doing far better in the wake of business reopenings. In April, the index …
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Past Its SPAC, Paysafe Logs First-Quarter Gains While Seeking to Expand in U.S. iGaming
Paysafe Group Holdings Ltd. has had an eventful six months, and on Tuesday the big processor indicated it’s going to be busy cultivating its stakes in U.S. online gambling and other specialized markets. “Our goal is to be the leading specialized payments platform,” declared chief executive Philip McHugh during a …
Read More »A Fed Report on Debit Costs Could Fuel a Movement to Reduce a Decade-Old Fee Cap
Pressure may be building on the Federal Reserve to take action on a debit card interchange-fee regulation that it has left intact for 10 years despite sweeping changes in the payments business, including an onrush of e-commerce transactions over the past year. In part, observers are reacting to a report …
Read More »Shift4 Notches Record Volume As It Looks to Stadiums And Casinos for Future Growth
Shift4 Payments Inc. on Thursday reported record quarterly end-to-end payment volume and gross revenue as it notched what chief executive Jared Isaacman called a “strong first quarter.” Stronger performance in the company’s core hospitality market helped drive end-to-end volume to a record $8 billion, with most growth coming from new …
Read More »How Merchants And Networks Can Transform Shopping
Most merchants can’t afford Amazon Go technology. But that doesn’t mean it’s out of reach. It’s the end of a long day at the office, and you swing into a pharmacy on the way home to pick up toothpaste. You’re not out yet, just running low and being proactive. You …
Read More »Security Notes: Bitcoin: A Sober Analysis
Seven and one-half billion dollars in ransomware payments per year is the U.S. cost for upholding the tantalizing idea of Bitcoin, and that is but a fraction of the multifaceted criminal activity that owes its surge to a coin that builds trust on ignorance and awe. Pillars of the U.S. …
Read More »The Skunk at the Party
The craze for point-of-sale installment lending—a trend popularly known as buy now, pay later—has enjoyed a honeymoon among merchants and consumers alike. The option, which lets consumers receive the goods in their cart but pay for them later over a few interest-free installments, came along just as pandemic fears threatened …
Read More »How the Pieces of Mastercard’s ‘Multirail’ Strategy Are Starting to Fit Together
You wouldn’t always know it, listening to the top executives at Visa and Mastercard, but these two rival networks are still chiefly card networks. Thursday morning, Mastercard Inc. laid out for equity analysts an update on what it has called its “multirail strategy,” major moves into account-to-account money transfers, real-time payments, …
Read More »Square’s New ACH Feature for Invoices Aims at Larger Sellers
To help large businesses reduce payment transaction costs and provide another option for how they receive payments, Square Inc. on Wednesday announced it will accept automated clearing house payments on Square Invoices. The addition of ACH payments could also enable Square to attract large, complex businesses—such as wholesalers, home-repair specialists, …
Read More »Shopify’s Wallet Gets a Lift as its Shop App Climbs to 19 Million Active Users
Everyone has heard of Amazon, but there’s less talk about Canada’s Shopify Inc., even though the fast-growing, Ottawa-based commerce platform now ranks second to Amazon in share of retail e-commerce sales, with 8.6% versus 39% for the Seattle-based giant, according to eMarketer. On Wednesday, Shopify issued an update on just …
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