News | IC Payments

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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IC Payments June 5, 2020 0

Contactless Hotel Operations Have Moved from Nice-to-Have to a Necessity

The idea of contactless technology in the hotel industry is not new, though until now it has been regarded as an operational “luxury” rather than a must-have. But a confluence of factors set in motion by COVID-19 will require hoteliers to reevaluate nearly every aspect of how they do business – and redefine what’s essential.…
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Jess Van Alstyne June 3, 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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IC Payments 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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IC Payments 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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IC Payments 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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IC Payments 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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IC Payments May 19, 2020 0

Coronavirus And Contactless Cards: Touch-Free Shopping Is The Future, And The Future Is Now

Things we used to take for granted are now highly scrutinized. For instance, handling fruit and vegetables in the store now brings some level of concern for many. The same applies to door handles and shopping carts. It’s therefore not surprising that many individuals are showing increased preference for contactless cards and touch-free payments. In…
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Jess Van Alstyne May 13, 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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IC Payments 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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IC Payments May 8, 2020 0

Category: News