To suggest that COVID-19 has transformed the future of business would be too obvious. But, in certain industries like retail, it is hard to fathom just how much change the pandemic has ignited. The crisis has expedited society further into the digital world; technology that was...
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Mastercard Inc. released a study showing consumers worldwide are using contactless and other digital payments at record levels and moving away from cash due to concerns about COVID-19. The Mastercard research shows that nearly seven in 10 consumers globally expect to shift towards digital payment use...
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A report from The Strawhecker Group In early April, TSG published commentary on the impact of the COVID-19 crisis on merchant acquirers. Two months ago, we were seeing a dramatic and overwhelming financial crisis unfolding as the vast majority of U.S. merchant acquirers were being negatively impacted. Some...
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The COVID-19 pandemic and safety measures taken to slow the virus’s spread have overturned consumers’ daily lives, including what they are buying and which payment methods they are using to transact. Households stocked up on necessary items to reduce how often they had to leave the...
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A new report released by The Strawhecker Group, the world's largest analytics and consulting firm focused on the payments acceptance industry, revealed the economic toll faced by small businesses throughout the month of April as a result of the COVID-19 pandemic. When comparing the card processing...
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The pandemic was unprecedented when it showed up in February and March; the phases of its aftermath will also be without a reference point. While it’s clear that the digital shift will stick in the retail ecosystem, other elements of the landscape are harder to...
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Mastercard is launching a consumer protection plan to reduce fraud at the gasoline pump as it postpones the EMV Automated Fuel Dispenser liability deadline for fuel merchants until April 2021. Mastercard is joining other major card companies in providing a six-month extension on the deadline for...
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New network data from Mastercard Inc. show U.S. switched volume is off 6% year-over-year for the week ending May 7 compared with a 26% decline in the week ending April 30. Mastercard on Thursday released two more weeks of network data, for the weeks ending May 7...
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The COVID-19 pandemic has sent the entertainment, fitness and restaurant sectors scrambling to adapt their revenue models and maintain customers’ loyalty during lockdowns. Business owners in these industries are learning how to survive financially as consumers abide by stay-at-home orders, all while preparing to restore...
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The coronavirus pandemic winds on, and while it seems like it’s been forever, when — and not if — we emerge from all this, consumer spending will be altered. In an interview with Karen Webster, Chuck Fagan, president and CEO of PSCU, a credit union service organization (CUSO), said that the impact to consumer spending will be...
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