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NewsBriefs

Following are excerpts from news stories recently posted under Breaking Industry News on our home and it’s drawing the ire of
page. For links to these and other full news stories, please visit www.greensheet.com/breakingnews. representatives of smaller
php?flag=previous_breaking_news. merchants in the process.
Square is dropping its flat
rate charge of 2.75 percent
for tapped, dipped or swiped
transactions, and will now
charge 2.6 percent plus 10
cents per transaction. The
new fee structure is expected
to usher in huge price hikes
for merchants that use Square
to process small-ticket items.
ATMs get Hollywood makeover at NAC 2019
Fraud up, confidence
The National ATM Council Inc. opened its seventh annual convention Oct. 15, 2019, at down, new studies find
the Las Vegas Planet Hollywood Hotel and Convention Center. The three-day show
focused on the ATM industry's next 50 years and beyond. In a nod to U.S. ATMs, which Two separate surveys by the
turned 50 this year, the conference began with presentations on video gaming kiosks, Harris Poll and Experian
cash discounting and route management optimization. Information Solutions Inc.
show increasing fraud and
U.S. slow to adopt mobile payments decreasing consumer confi-
Consumer concerns about privacy and security have slowed mobile payments adoption dence. The Harris Poll sur-
in the United States, according to the Pew Charitable Trusts, which found ecommerce vey, conducted on behalf of
Computer Services Inc. and
has grown three times faster than traditional payment cards and transactions initiated
on smartphones. Survey data was based on 1,178 consumers who paid by smartphone published Oct. 7, 2019, found
92 percent of consumers are
in 2018. "Although 88 percent of Americans who conducted a financial transaction had
a smartphone capable of making a mobile payment in 2018, mobile payment adoption concerned about exposing
personal confidential data
has lagged [behind] industry projections, and consumers still tend to opt for traditional
cards not linked to a mobile platform," researchers wrote. when they transact online.
Experian found most con-
Square hikes fees on small-ticket items sumers place a high degree
of confidence in passwords
Square, which got its start offering cut-rate card processing for small merchants, is despite growing adoption of
moving to a pricing scheme that more closely mirrors traditional card acceptance fees, more advanced forms of se-
curity and authentication.

Contactless ticketing
volume may exceed
1 billion in 2024
Worldwide contactless tick-
eting could exceed 1 billion
transactions in five years, ac-
cording to a study published
Oct. 10, 2019, by ABI Re-
search. Transportation agen-
cies are migrating from mem-
ory-based cards to chip cards
with enhanced security and
fast response times, ABI re-
searchers found. Analysts ex-
pect memory card shipments
to decline from 175 million
in 2018 to 144 million in 2024.
Use of cards with built-in mi-
crocontrollers is expected to
rise from 240 million units in
2018 to 385 million in 2024, ac-
cording to the study.

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