Payments News

On The Web

nbsp;

Industry

CardFlight Small Business Impact Report #2: March 26, 2020

From the report: Retail sales down 11.9% from the baseline week, reversing the sales increase we shared in last week’s report Nearly 14% fewer merchants posted any transactions at all, compared to the baseline week Businesses are taking more payments through invoices — up 14.5% since March 2
nbsp;

Industry

Shift4 Data Quantifies a Heavy Coronavirus Impact on Restaurants And Hotels

“Restaurant volume fell from 42 million transactions to 11 million, a 74% decrease for the period from the week of February 2 to past seven days. The early week in February was selected as a baseline because it lacked abnormal trends, such as Valentine’s day, says D. Taylor Lauber, Shift4 chief strategy officer. The week […]
nbsp;

Industry

We Face a War Against Coronavirus and Must Mobilise Accordingly

Mario Draghi, former president of the European Central Bank: “The challenge we face is how to act with sufficient strength and speed to prevent the recession from morphing into a prolonged depression, made deeper by a plethora of defaults leaving irreversible damage. It is already clear that the answer must involve a significant increase in public […]
nbsp; nbsp;

Industry

Coronavirus Slowdown Prompts Visa to Delay New Fee Structure

“Visa Inc. is delaying the rollout of a new fee structure during the coronavirus slowdown. The fee changes, in the works for months, would raise the cost of credit-card transactions for many merchants, while lowering them for others. They’ll take effect in July instead of April.”
nbsp;

Industry

Instacart’s Gig Workers Are Planning a Massive, Nationwide Strike

“Instacart shoppers are planning a nationwide mass revolt over the grocery delivery app’s response to the coronavirus pandemic. On Monday, workers say they will refuse to accept orders until Instacart provides hazard pay of an additional $5 an order, free safety gear (hand sanitizer, disinfectant wipes, and soap) to workers, and expands its paid sick […]
nbsp;

Industry

Card Networks To Postpone Interchange Adjustments

“The delays come as many merchants , especially restaurants, hotels, and local retailers have closed or greatly reduced their operations as part of governmental attempts to control the spread of the coronavirus, or Covid-19. Some independent sales organizations and other groups have called on the networks to cancel the April interchange updates , saying merchants […]
nbsp;

Industry

With Stimulus Cash Pending, a Fintech Works With Banks to Get Money to the Underbanked

“Some 63 million persons, or one in four adults, are said to be underbanked or unbanked, according to numbers from the Federal Deposit Insurance Corp., as cited by the Chicago-based Financial Health Network, which specializes in research on the unbanked population. The size of that population has some bankers working on solutions. The Federal Reserve […]
nbsp;

On The Wires

nbsp;

Industry

Shift4 Payments Launches Shift4Cares.com to Raise Over $200 Million for Small Businesses and Highlight Economic Impact of COVID-19

Shift4 Payments, the leader in integrated payment processing solutions, has announced the launch of Shift4Cares.com, a round-the-clock online resource for government agencies, news outlets and businesses affected by COVID-19. The website offers a wealth of valuable information on the economic impact of this pandemic and is part of Shift4’s initiative to raise over $200 million for […]