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 …

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 …

The warehouse-store chain BJ’s Wholesale Club said it has added electronic benefits transfer payment capability to its Web site for in-store or curbside pickup of SNAP-eligible items. The service applies to stores in Florida and North Carolina. The processor is FIS Inc.’s Worldpay. SNAP is the federal Supplemental Nutrition and Assistance Program.Independent …

Buy now, pay later specialist Klarna AB raised $1 billion in an oversubscribed equity funding round that pegged the company’s valuation at $31 billion. Major U.S. clients include Macys, Etsy, Sephora, Ralph Lauren, and Urban Outfitters.In related news, BNPL provider Splitit Payments Ltd. announced its merchant sales volume increased almost 180% in 2020 to …

Increasingly, payments providers are discovering that the familiar IPO isn’t the only way to cash in on the public markets. He was “dead set against” it, until he was for it, Flint Lane says. The “it” was the way Lane’s company, Billtrust, traded two decades of private ownership to go …

There has now been a year of pandemic, but also of regulation, litigation, and malfeasance in the payments business. What’s going on, and has anything really changed? Like everyone else in the “Time of Covid,” the people of payments woke up just about every day last year wondering what new …

People who cover financial services got all excited when JPMorgan Chase chairman and chief executive Jamie Dimon said a bad word (which the transcript politely says is “indiscernible”) in describing his feelings, during the company’s fourth-quarter earnings call, about technology companies getting into banking. But in the midst of the …

Peer-to-peer transactions have taken off as a way to pay digitally during the pandemic, and now the biggest bank-owned P2P network is getting a big lift through its integration with the country’s most extensive real-time payments network. Early Warning Services LLC announced early Thursday payments on its fast-growing Zelle P2P payments …

Payment transactions within the financial-services sector had the dubious distinction of having the highest rate of fraud attacks in the second half of 2020, according to latest Cybercrime Report from LexisNexis Risk Solutions. Alpharetta, Ga.-based LexisNexis Risk Solutions says payment transactions in financial services had an attack rate of 3.6% …