ICYMI January: First Data in The News
In case you missed it (ICYMI), below, we’ve compiled the biggest stories from around the web in January, featuring issues important to First Data clients including news about the advantages of Clover Go, First Data’s plans to simplify B2B payments in Europe and South America, parents using Gyft to help save for college, and more:
A week ago . . . Small Business Trends wrote a feature story on the advantages of First Data’s new mobile payments solution, Clover Go. In it, author Tabby McFarland notes:
"There are some features Clover Go offers that might make it a more appealing option for some small business owners. First of all, Clover Go protects customer data with TransArmor, First Data’s security tool. TransArmor uses encryption and tokenization to provide payment security. You can customize your Clover Go experience with other Web-based apps from the Clover App Market. The company claims it’s 'one of the fastest-growing POS app markets'."
Also . . . First Data and SAP announced from the World Economic Forum in Davos that the two companies are teaming up to rollout a B2B electronic payments solution to eliminate friction in B2B payments for businesses operating in Europe and Latin America with AribaPay. PYMNTS covered the release, saying:
"What the AribaPay solution will do is combine the expertise of First Data and SAP Ariba Solutions in order to make the procure-to-pay process faster, more seamless, and secure using the cloud-based payments solution across the business network. Through AribaPay, transactions are automated to help end users improve billing and settlement between companies."
The article also noted the benefits of the solution, including, “ the ability to exchange purchase orders, invoices and payments in a fast, secure and electronic manner; lower processing costs; better remittance advice; lower fraud risk; the ability to track and trace transactions; and a quicker process to reconcile and dispute resolution."
Two weeks ago . . . US News & World Report featured Gyft in an article on new trends in education financing. The over-arching theme of the piece was the recent trend of parents using gift cards to save for college—a trend that is rapidly gaining popularity. Wayne Weber, CEO of Gift of College, highlighted that Gyft's participation in the unique program "could make it the first time physical gift cards for college savings accounts would be available in a big retail market."
Three weeks ago . . . First Data was prominently featured on the front page of The Wall Street Journal’s Business & Technology Section under the headline “Holiday Sales Rise, but Not All Are Cheery.”
Therein, the Journal used data from our end-of-season SpendTrend report on holiday sales to set the stage for how individual companies performed during the holiday season:
"Retail sales rose 3.3% from Oct. 31 through Jan. 4, about the same pace as they grew the previous year, according to First Data Corp., which processes credit-card transactions and analyzed payments at 1.3 million retailers."
Also . . . TechCrunch wrote an article entitled "5 Things That Will Disappear In 5 Years" and led by looking at the future of paper checks. The article cited First Data's Millennial Report and wrote:
"Ninety-four percent of consumers under 35-years-old bank online, and more than one-fifth of them have never written a physical check to pay a bill, according to First Data’s report, ‘The Unbanked Generation.’ In Europe, if you try to write a check, they look at you as if you are crazy. Rent may be the last great bastion of using checks, but even that is well on the decline as property managers switch to electronic payments, and mobile payments become so easy."