Author: IC Payments

How the Pandemic Has Hastened Small Merchants’ Conversion to Contactless And Online Channels

Evidence continues to accumulate that the Covid-19 pandemic is not only boosting contactless and online payments, but doing so in historically short order. Some 48% of small and medium-size merchants reported in mid-June that they had observed an increase in the number of consumers either using contactless payments or asking about doing so. That’s up…
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July 1, 2020 0

Touch-Free Commerce Takes Root As Contactless Payments Surge 150% Among Cardknox Merchants

More evidence that consumers are finally adopting contactless payments emerged  as Cardknox, a payment gateway, noted a 150% increase in contactless payment use from just from November to April. Announced Thursday, the increase, albeit lacking volume details, indicates consumers’ mindfulness about reducing physical contact with point-of-sale terminals. Cardknox said some of the growth may also come…
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June 5, 2020 0

Gig grocery shoppers further the shift to contactless payments

People who order groceries for delivery may be using digital payments or a plastic card to pay for their food, but the person picking up the groceries may be making a separate payment at the point of pickup — and in the process, influencing the global shift toward contactless payments. Even before the coronavirus pandemic…
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May 28, 2020 0

The US EMV Chip Card Count Surpasses 1 Billion

Four years after the EMV chip card standard became the law of the U.S. payments land, the number of credit and debit cards with an EMV chip now exceeds 1 billion, and 63% of U.S. card-present transactions in 2019 involved an EMV card being read by an EMV-capable terminal, up from 53.5% in 2018. Those…
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May 28, 2020 0

Coronavirus’ contactless pay wave boosts NatWest’s small-business plan

The coronavirus pandemic is driving a rapid increase in NatWest’s U.K. small-business merchant acquiring unit, with many being first-time card acceptors. In the last two months NatWest has reported a significant increase in small and medium-sized enterprises (SMEs) transitioning from using solely cash to accepting contactless and card payments for the first time. Since the…
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May 22, 2020 0

Rising Use of Digital Payments in Canada Is Likely a Permanent Trend, Interac Reports

Some results from Interac Corp. on Friday show the novel coronavirus and its attendant restrictions are pushing Canadian consumers and businesses toward digital payments, a trend the company says could have lasting effects. In April, e-Transfer transactions reached a record level at 61.3 million, according to the announcement from Interac, which operates the national switch…
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May 22, 2020 0

Coronavirus’ contactless wave pushes PayPal to QR payments

As consumers dump cash and traditional point of sale hardware for contactless payments, PayPal has added support for QR codes in 28 countries. The QR code is generated from the PayPal app and sellers or merchants can print out a QR code placard for consumers to scan at their store or stall. The QR codes…
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May 19, 2020 0

Payments won’t go back to normal. Here’s why that’s good.

The current, most-asked question is, “When will we get back to the way things were?” But that may be the wrong question to ask. After times of significant turmoil, habits never fully revert to previous norms. Instead, we respond to those events and permanently change the way we live. For example, the labor shortages of…
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May 13, 2020 0

Fiserv’s $22 billion buyout of First Data pays off during pandemic

When Fiserv purchased First Data in 2019, it was part of an industrywide push to combine bank and merchant technology under one roof. A year later, a key piece of First Data’s technology — and its top executive — have become Fiserv’s path through the pandemic. As payments volume across the world plummeted, Fiserv’s Clover…
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May 8, 2020 0

With all of the New Innovations – GPR Prepaid Debit Cards Continue to Prove they are still Essential for the Un and Underbanked!

How does the federal government send $3 trillion to individuals and businesses across the country? Not as efficiently as it could, said Erika Baumann at Aite Group, a fintech analytical firm. TCH — The Clearing House – owned by 25 of the largest banks operating in the U.S. — launched a real-time payments system late in 2017, named,…
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May 8, 2020 0