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Five At Five: Faster EMV Comes To The US

Visa: Amid EMV Rollout, Counterfeit Fraud Down

Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes news about faster chip card transactions, along with brightening prospects for retail and technology in the U.S. Also, Lowe’s has made a payments move, and both bitcoin and Ripple are eyeing the future in their own ways.

Square Makes EMV Transactions Faster In The US

The company said sellers in the U.S. can now process chip cards in just two seconds on Square Reader, for contactless and chip, and Square Register. Square reached the speed reduction by working with partners at the payment network to implement Quick Chip and M/Chip technology.

Retail, Tech Get New Life In Burgeoning Economy

Some prominent hedge fund managers are feeling optimistic about the U.S. economy, especially when it comes to retail and technology.

Lowe’s Companies Extends Synchrony Partnership

An agreement with Synchrony gives Lowe’s access to infrastructure related to in-app payments, along with an in-store credit app. With the deal, Synchrony will run the retailer’s credit card programs for consumers and businesses, which can be used at 1,740 brick-and-mortar locations and online, and gives users a 5 percent discount on purchases, along with other promotional deals.

Coinbase CEO Talks Down Bitcoin Adoption

Bitcoin may be outperforming beleaguered cryptocurrency brethren, but look out below  at least for now. Coinbase CEO Brian Armstrong stated, according to Forbes, that even though cryptocurrencies are seeing a bit more adoption globally, it will not be enough to underpin prices.

Ripple Eyes China’s Cross-Border Payments Market

If the company does enter the Chinese market, it’s reportedly not likely to focus on pushing its own XRP cryptocurrency, given that regulators in China have been cracking down on digital tokens and banned initial coin offerings (ICO) last year.

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New PYMNTS Study: Subscription Commerce Conversion Index – July 2020 

Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.

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