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A recent merchant acquirer survey by Sysnet Global Solutions revealed that overall small merchants are not effectively engaging in PCI compliance programs. Among the acquirers surveyed, higher merchant PCI compliance rates remain a top priority, with most targeting 70 percent as the minimum compliance rate, and more than 15 percent aiming for 90 percent or higher PCI compliance compliance rates within their merchant portfolios.
To reduce checkout lines as spring gardening season got underway, Walmart Inc. began piloting a program called Check Out With Me in the Lawn & Garden Centers at over 350 Walmart stores nationwide. According to Walmart, sales associates at select stores equipped with cellular devices and Bluetooth printers can scan customer items, accept card payments and provide printed or electronic receipts on the spot, allowing customers to pay and go.
The payment needs of merchants are changing rapidly, forcing ISOs and independent software providers to rethink their partnerships with each other and with payment services providers to optimize client relationships. A white paper titled The ISO/ISV Convergence: Do Payments Systems Hold the Key to Helping Both Sides Thrive?, published by Paysafe Group Ltd., provides insights on what ISOs and ISVs should look for in payments partnerships.
On April 19, 2018, several payments industry leaders joined forces under a newly formed parent company called Aurora Solutions. The alliance brings together partners Jeff Brodsly, President and CEO of Chosen Payments; Sabin Burrell, co-founder and CEO of BlueSquare Resolutions LLC; former BBVA Compass executive Adam Spencer; and former First Data Corp. executive Brian Goudie. Chosen Payments and BlueSquare will continue to operate under their respective brands and leadership. The group will also leverage marketing and technology innovations collaboratively to achieve platform and geographic expansion into specialized vertical markets.
By Oct. 1, 2020, all U.S. states, territories and 34 recognized tribal organizations will be required to replace paper checks or vouchers with electronic benefit transfer (EBT) cards for qualified recipients of the federally funded grant program known as WIC, the Special Supplemental Nutrition Program (SNAP) for Women, Infants and Children. According to USDA FNS data, nearly 7.3 million women, infants and children received an average $41.24 in monthly WIC benefits during fiscal year 2017. Benefits were administered by 90 State agencies, which covered more than $3.6 billion in annual food costs.
Payment Logistics Ltd, headquartered in San Diego, filed a lawsuit in federal court in San Diego in late April alleging that Shift4 Payments LLC is "usurping control" of the market for mid-to-large table service restaurants. Payment Logistics requested the court to undo the January acquisition of Shift4 Corp. that led to the creation of Shift 4 Payments, asserting the deal has allowed Shift4 to monopolize payment interface and merchant account services for the mid-to-large table service restaurant market.
The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.
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