In a roundup of news from this week, PayU’s new payment deferral option consolidates small-ticket transactions, Avangate acquires PF 2Checkout, and Moneris releases research on the adoption of tablet-based POS systems by Canadian merchants.
Payment facilitator PayU India has launched a new buy-now-pay-later option called LazyPay. According to a report in The Paypers, the options pulls together smaller-ticket transactions made by the consumer on e-commerce sites that support the option. LazyPay bills users twice a month, aggregating the transactions that occurred within the previous time period. Retailers pay a 1% transaction fee, the Paypers report said.
The option is offered to select customers that the company has determined are qualified.
Atlanta-based e-commerce and subscription billing platform Avangate has acquired Columbus, Ohio-based payment facilitator 2Checkout. The combined company, which will operate as 2Checkout, will offer e-commerce and subscription management services globally.
Australian accounting software provider MYOB announced that it has completed its acquisition of payment facilitator Paycorp. MYOB said that the acquisition will enable it to be the first to market to offer an integrated accounting and payments solution to its clients in Australia and New Zealand.
“We are delighted to announce the completion of the Paycorp acquisition, which we believe opens up a significant growth opportunity for us in the rapidly expanding payment services industry. The acquisition reinforces our vision and strategy of providing innovative solutions to our clients, and follows the successful launch and traction of MYOB’s PayDirect Mobile and PayDirect Online solutions currently in the market,” said MYOB CEO Tim Reed in a statement.
Research commissioned by Canadian card processor Moneris reveals that fewer than 1% of Canada’s small businesses have adopted tablet-based POS solutions. At the same time, nearly half (42%) still use cash registers.
Why the slow adoption of more advanced technology? About two-thirds (68%) of respondents cited cost as a reason they had not yet upgraded. More than half (57%) said there was nothing that could make them want to change their POS system.
Perhaps they would be more willing to change if they had help, however. Nearly half (46%) said they would prefer for a third party to set up their POS system for them, rather than installing it themselves.
Payment facilitator USA Technologies announced that it has reached a goal of 500,000 connections to its ePort Connect service. The service is a suite of products to enable cashless payments within the self-serve retail industry.