Point-of-sale

U.K. supermarkets which have been experimenting with mobile scan-pay-go may see more consumers adopting the technology due to social distancing requirements in stores.

With coronavirus presenting significant challenges for retailers and the technical challenges of imposing interchange fee changes in the networks, Visa, Mastercard, American Express and Discover are holding off on the updates.

The U.S. government will shortly funnel trillions of dollars into the economy to soften the coronavirus’ impact on a variety of industries and small businesses. Payment companies that are also lenders will soon find out if it’s enough to save the market.

The coronavirus is hitting small businesses hard, slamming one of Square’s core markets just as the payments company got a long-awaited industrial banking license.

Over the past year, buy now, pay later schemes have risen to become the trendiest method of retail payments in the U.K.

Payments technology provider Fiserv is acquiring independent software vendor Bypass Mobile to boost its multi-channel capabilities for sports, entertainment and restaurant verticals.

The Australian firm agreed to pay around $1 million in connection with allegations that it broke the law by operating without a license in the nation's largest state.

Firms such as Afterpay that offer financing to shoppers have been enjoying rapid growth. But their model is under scrutiny from regulators, being mimicked by credit card lenders and faces heightened risks in a downturn.

Payments software company SpotOn Transact has completed a $50 million funding round that included investments from 01 Advisors, a firm founded by former Twitter executives.

Brendan Coughlin, head of consumer banking, explains how Citizens established its relationships with Apple and Microsoft for point of sale financing and how they've evolved.

Afterpay, whose online installment loans are seeing strong growth in the U.S. apparel sector, has partnered with Oakland, Calif.-based processor Marqeta to develop additional payment products and services.

The financial services affiliate of Alibaba Group Holding Ltd has agreed to buy a minority stake in Klarna, and will expand its international partnership with the Swedish payments firm.

For the past decade, the drive for modern restaurant point-of-sale terminals and software has turned into a highly competitive race seeking new looks and ideas.

Afterpay has found an opening in the U.S. by targeting the millennials who don't have a credit card to use at the point of sale.

When established card networks such as Visa, American Express and Mastercard start investing in fintech lending platforms such as Divido and ChargeAfter — as well as in the fintech lenders themselves such as Klarna and Vyze — it’s a clear signal that the future of unsecured personal loans may not be delivered by banks.

Investors poured a fresh $400 million into Toast following a year in which the payment firm more than doubled revenue from its network of restaurant clients.

Klarna has agreed to acquire Italian fintech Moneymour as part of an innovation push to counter rivals in the popular point of sale credit market.

Point of sale credit is a popular option, and Visa has followed its investment in Klarna by financially backing ChargeAfter.

BitPay has integrated bitcoin and cryptocurrency payments into Poynt’s Smart Terminal point-of-sale devices, reaching an addressable market of more than 100,000 retailers.

The advancement of mobile wallets has never quite aligned with U.S. dining habits, where patrons are accustomed to handing off their credit cards to wait staff — something they are less likely to do with their phones.