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NewsBriefs
Editor's Note: Following are excerpts from news stories recently posted with a survey commissioned in 2017 by Visa Inc., which
under Breaking Industry News on our home page. For links to these and suggested consumers are eager to leave passwords behind
other full news stories, please visit www.greensheet.com/breaking- for biometric authentication at the POS and for other
news.php?flag=previous_breaking_news. financial transactions.
Biometric authentication refers to the process of verifying
that someone is who he or she claims to be through the use
of fingerprint or iris scans, for example. Many consumers
already use biometrics to unlock their smartphones and
other "smart" devices, like wearables. Juniper Research
estimated there were 190 million smart mobile devices
(phones and wearables) worldwide in 2016; by 2021 that
number is projected to be 600 million.
Retail spending robust in Q2 2018 AmEx-accepting merchants
gain new financing options
According to transaction data collected from 1.3 million
U.S. merchant locations by First Data Corp., growth in New York-based American Express Co. joined forces with
retail spending continued at a steady pace across most GreenSky Inc., a platform provider focused on enabling
sectors during the second quarter of 2018. Nationwide, frictionless promotional payment options to consumers.
Washington ranked as the top city for retail spending The aim of their strategic alliance is to bring enhanced
growth, up 6.4 percent for the quarter, followed by digital payments and financing capabilities to help
Houston and Boston. Among retail categories measured, merchants grow their businesses and give consumers
gasoline stations tracked the highest rate of growth, at greater flexibility in financing their purchases, the
16.5 percent year-over-year for the quarter, followed by partners stated.
movie theaters (14.8 percent), computer software stores
(12.5 percent), steamship/cruise lines (9.9 percent), shoe The collaboration will enable eligible U.S. merchants
stores (8.1 percent) and specialty retailers (7.6 percent). within the AmEx network and their customers to access
Sporting goods-hobby-book-music and furniture-home Atlanta-based GreenSky's proprietary POS financing
furnishings were the two retail categories that saw solutions. Using GreenSky's platform and technology,
quarterly declines. home improvement and elective healthcare merchants
that accept AmEx will be able to drive incremental sales
Consumer security concerns by providing qualifying customers with options to
may stymie biometric payments finance large purchases in a paperless environment, the
companies said.
Biometrically authenticated payments are poised for
growth, but consumer concerns about security could WSAA promises a smashing show
thwart this fledgling trend. That's the upshot of a new
report from Transaction Network Services. This contrasts Demonstrating the nationwide camaraderie among the
payments industry's region-
al associations, the Western
States Acquirers Associa-
tion congratulated the Mid-
west Acquirers Association
on its stellar July conference
before revealing what's in
store for WSAA's September
show. "Congratulations to
the Midwest Acquirers As-
sociation on a fantastic 16th
conference," WSAA stated,
adding that WSAA looks
forward to "continuing the
high standards" of the pay-
ments industry's confer-
ences at its annual meeting,
which will take place Sept.
12 and 13, 2018, at the Hyatt
Regency Scottsdale Resort
and Spa at Gainey Ranch in
Scottsdale, Ariz.
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