Card-not-present and card-present locations grew by double digits over the last 12 months. Card-present growth was fueled by softPOS—the use of smartphones and tablet devices, mostly Android-based—that can accept card payments without the need for any PCI-compliant peripheral device.
Among all PSPs in China, Lakala ranks as the largest when measuring card transactions processed. Card brands accepted include UnionPay, Visa, Mastercard, American Express, JCB and Discover. Financial settlement with merchants for all card brands is made through UnionPay.
Purchase volume combined with cash advances and cash withdrawals tied to global brand, domestic-market-only and private label credit, debit and prepaid cards was $51.435 trillion worldwide in 2023. This was an increase of 4.7% from $49.149 trillion in total volume in 2022.
Shift4 provides card acceptance services to 200,000 merchants in the US and Europe. In 2025, the company will roll out a cryptocurrency acceptance service to those merchants.
Ingenico, best known as a top global manufacturer of POS terminals, has formed a partnership with cryptocurrency trading platform Crypto.com.
Personal consumption expenditures (PCE), a statistic calculated by the United States Department of Commerce’s Bureau of Economic Analysis (BEA), were $18.823 trillion in the US in 2023. Purchases made for goods and services totaled $14.655 trillion, which was 77.86% of PCE. The BEA includes transactions for which no payment was made, even though a monetary […]
Merchants in the US that accept American Express virtual cards for business-to-business (B2B) payments can participate in a new collaboration between Amex and Boost Payment Solutions. Boost focuses on B2B payments, providing straight-through processing of accounts receivable (AR). The Boost Intercept service fully automates the receiving, parsing and processing steps of accounts receivable, including elimination […]
Typically, payments made online and in-store are authorized in real time, but clearing and settlement occur later in large batches between merchant acquirers and the networks. Immediate clearing and faster settlement of card payments will help merchants manage their cash flow and receive funds more quickly. Mastercard plans on providing the necessary network capability by […]
Capital One is the 4th largest credit card issuer and 12th largest debit card issuer in the US. To reduce incidences in which its cardholders have their transactions falsely declined while shopping online, Capital One has opened its Direct Data Share API to Worldpay, the third largest merchant acquirer in the US. Even when it […]
The company also offers a digital wallet, payment gateway, proprietary 3DS algorithm and risk monitoring service.
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