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- Cost surprises at checkout are the leading cause of cart abandonment, with 57% of consumers saying they walked away from checkout at least once in the past year because of unexpected delivery costs, according to a wide-ranging shopping report released by point-of-sale technology provider Verifone Inc., which surveyed 995 respondents globally.
- Price inflation helped boost sales of gift cards during the recent holiday-shopping season, particularly for online shopping, according to gift-card platform Blackhawk Network. The company’s survey, results of which were released early Wednesday, found 60% of survey respondents bought gift cards for the season because it helped them stay on budget. The Web-based survey canvassed 1,228 respondents aged 18 and up on Dec. 28 and Dec. 29.
- Uplift, a travel-oriented buy now, pay later provider, announced it is working with Margaritaville at Sea to offer installment payments on all bookings. Payments will be interest-free for a limited time, Uplift says.
- NCR Corp. said its payments and network segment generated $1.3 billion in revenue in 2022, up 96% from $675 million in 2021. Overall, it posted $2 billion in fourth-quarter revenue, down 1.5% from $2.03 billion in the year ago period. NCR had a loss of $18 million for the quarter, compared with a $63 million profit in the 2021 fourth quarter. For the year, NCR had $7.8 billion in revenue, up 8.3% from $7.2 billion in 2021. Its 2022 net income of $59 million was a 40% decrease from $98 million the year prior.
- Cantaloupe Inc., a payments provider for vending and other unattended markets, reported $61.3 million in revenue for the quarter ended Dec. 31, up 20% year-over-year, including $32.4 million in transaction fees, up 21%. Transaction volume grew 17% to $649.4 million. Active devices totaled 1.15 million, a slight increase from 1.12 million a year earlier.
- The Western Union Co. said its 2022 fourth quarter and full year results met its expectations as it posted $1.1 billion in fourth-quarter revenue, a 15.4% decrease from $1.3 billion in the 2021 fourth quarter. Its net income for the 2022 fourth quarter of $294.4 million was a 74.4% increase from $168.8 million a year prior. For all of 2022, Western Union had $4.5 billion in revenue, down 11.7% from $5.1 billion in 2021, and a net income of $910.6 million, a 13% increase from $805.8 million the year before.
- GoCardless, a specialist in enabling payments directly from bank accounts, launched GoCardless Embed, an integration that allows third-party payment providers to access the company’s network. GoCardless says it processes more than $30 billion in payments annually across more than 30 countries.
- Piie Inc., a provider of payments technology to the insurance industry, is collaborating with transaction-monitoring specialist ThetaRay to launch an anti-money-laundering service for claim payouts.
- Tassat Group Inc. announced its blockchain-based TassatPay service for banks and their business clients has exceeded $1 trillion in processed transactions since the service launched in 2019.
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