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Breaking News articles for May 2021

Digital commerce growth soars past pandemic

Thursday, May 27, 2021

Retailers and consumers are doubling down on digital commerce, according to two separate studies published in May 2021, one by Blackhawk Network and the other by Capgemini and Efma. Findings show upwardly trending digital spend in multiple regions even as stores reopen after the pandemic, participating companies stated.

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Square-Plaid combo eyes large tickets

Wednesday, May 26, 2021

Square is partnering with Plaid to offer businesses an ACH debit option that costs less than accepting credit and debit cards and eliminates the need to hold onto sensitive bank account information. In a statement, Square noted that the arrangement will make its payment processing a better deal for online merchants selling large-ticket items.

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America is getting back to business

Monday, May 24, 2021

The economic outlook is brightening, and so is the market for payment processing services. Consumer spending surged in March and held steady in April, thanks to government stimulus payments and more Americans getting vaccinated against COVID-19. Plus, a majority of small business are open or planning to open for business, following pandemic-related shut downs.

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Dongle-free options ignite contactless commerce

Friday, May 21, 2021

In the post-pandemic retail landscape, 75 percent of U.S.-based small and midsize businesses (SMBs) expect demand for contactless payments to remain strong, even after vaccines are widely available, according to Visa’s Back to Business Study. Findings were based on a November 2020, survey by Wakefield Research of 2,250 merchants and 5,000 consumers in nine countries: Brazil, Canada, Germany, Hong Kong, Ireland, Russia, Singapore and United Arab Emirates, with adults of 18 years and higher in each market, researchers stated.

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Payments industry supports crypto startups

Thursday, May 20, 2021

Recent innovations across the payments ecosystem reflect growing interest in cryptocurrencies and blockchain technologies, which power a range of solutions in banking, payments and corporate sectors. Deloitte’s 2020 Blockchain Survey revealed that leading financial service providers no longer consider blockchain to be revolutionary. Indeed, a growing number of C-suite executives are putting money and resources into blockchain projects, researchers found.

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Fed considers fintech access to payment services

Monday, May 17, 2021

The Federal Reserve Board is seeking public comment on a proposal to create a pathway for financial technology firms to access Fed payment and account services—services that today are largely limited to banks and credit unions.

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GS interviews Atmosphere TV's Mike Kelly

Friday, May 14, 2021

Austin-based Atmosphere TV created a customizable video streaming service designed to help merchants improve the customer experience. In a recent interview with The Green Sheet, Mike Kelly, director of distribution partnerships at Atmosphere TV, mentioned that merchant level salespeople (MLSs) can earn commissions for placing the free service at retail and hospitality venues. Following are excerpts from the interview.

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Paysafe CEO sees growth, opportunity ahead

Tuesday, May 11, 2021

Paysafe Group held its first public earnings call on May 11, 2021, after its March 2021 special purpose acquisition by Foley Trasimene Acquisition Corp. In opening remarks, Philip McHugh, chief executive officer at Paysafe, commended employees, partners and customers for helping deliver strong results, particularly in iGaming and ecommerce sectors.

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Fed presses for more choice in debit card routing

Monday, May 10, 2021

Pressure is mounting for debit card issuers to do more to support merchant choice in routing card-not-present transactions. On May 7, 2021, the Federal Reserve requested public comment on changes to rules it wrote implementing the Durbin Amendment to the 2010 Dodd-Frank Act. The proposed changes, to Regulation II and its official commentary, would clarify that merchants must be able to choose from at least two unaffiliated debit networks for processing online and other CNP debit card purchases.

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Safe, distanced SEAA reopens tradeshow season

Friday, May 7, 2021

An impressive number of payments industry professionals will gather at the Hyatt Regency Coconut Point Resort in Bonita Springs, Fla., on May 24 to 26, 2021, for the 20th annual Southeast Acquirers Association conference. With Bloomberg's COVID-19 tracker reporting 252 million vaccinated U.S. citizens as of May 6, 2021, and numerous companies lifting travel restrictions, the timing is right for a real-time, real-place gathering, SEAA planners stated.

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FIS getting real about payments

Thursday, May 6, 2021

In what is being billed as a "game changer and global first," the financial technology company FIS took the wraps off a cloud-based, software-as-a-service platform that supports account-to-account transactions for businesses, consumers and governments using real-time payment networks.

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Acuant expands globally with Hello Soda acquisition

Tuesday, May 4, 2021

Security leader Acuant completed its acquisition of Hello Soda on May 4, 2021, enhancing its core technology and expanding its global footprint. Executives from both companies stated that their complementary technical and data science capabilities will drive real-time fraud prevention, identity verification, AML compliance and KYC solutions worldwide.

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