Shift4 Payments: As Merchants Persevere Throughout the Fall, Transaction Volumes Show Continuing Impact of COVID-19
12 Dezember 2020 - 1:43AM
Business Wire
Despite an October in which transaction volumes exceeded
seasonal expectations, November transaction volumes reveal the
impact of the ongoing pandemic
Shift4 Payments (NYSE: FOUR), the leader in integrated payment
processing solutions, has revealed that the month-over-month change
in U.S. merchant transaction volumes from October to November
dipped more than in previous years as merchants and consumers
contend with recent spikes in COVID-19 transmission and renewed
health and safety restrictions. Nonetheless, Shift4’s data indicate
that transaction counts in October reached totals that exceeded the
expected seasonal decline.
The anticipated seasonal decline heading into the fall is often
most discernable in the month-over-month change from October into
November, where historical data indicates merchants may expect an
average 5% drop in monthly transaction volume. However, this year’s
data—posted daily on shift4cares.com—reveals a decline of 10% from
October to November, suggesting that the typical seasonality of
merchant transaction volume is being compounded by the recent
nationwide rise in virus infection rates. Only two states—Hawaii
and Florida—fared better than the historical average in
month-over-month transaction volume change. As a state largely
dependent on tourism, Hawaii proved to be a particular bright spot
with a month-over-month transaction growth of 5% that bucked the
nationwide trend. At the other end of the spectrum, however,
Wyoming, Maine, and Vermont had greater than 25% month-over-month
declines in transaction counts.
Despite this year’s pandemic-impacted decline from October to
November, Shift4’s data reveals a silver lining in the transaction
volume trends throughout the fall, particularly with regards to
October’s stronger-than-expected showing. According to Shift4
historical data, merchant transaction volume in years prior to 2020
has typically exhibited a seasonal decline of 4% as businesses move
from the peak of summer into October. However, Shift4’s 2020 data
indicate that U.S. merchants this year experienced only a 1%
decrease in the number of transactions processed during this
time.
While the COVID-19 pandemic undoubtedly continues to present
challenges, Shift4’s end-to-end payment volume continues to grow
year over year as merchants continue to seek out innovative
commerce technology. November end-to-end payment volume increased
13% compared to the previous year.
“Despite our positive YOY end-to-end volume growth and
outperformance relative to industry statistics, it is quite clear
that rising COVID cases, state restrictions, and cooler climates
exacerbated the typical seasonal declines in payment volume,” said
Jared Isaacman, Founder and CEO of Shift4 Payments. “I do think
it’s important to recognize the struggle and resilience of small
business owners as they continue to persevere through incredibly
challenging circumstances. As we move through the winter months and
with positive vaccine developments, it’s hard not to be optimistic
that the end is near.”
About Shift4 Payments
Shift4 Payments (NYSE: FOUR) is a leading provider of integrated
payment processing and technology solutions, delivering a complete
omnichannel ecosystem that extends beyond payments to include a
wide range of commerce-enabling services. The company’s
technologies help power over 350 software providers in numerous
industries, including hospitality, retail, F&B, ecommerce,
lodging, gaming, and many more. With over 7,000 sales partners, the
company securely processed more than $200 billion in payments
volume for over 200,000 businesses in 2019. For more information,
visit shift4.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20201211005617/en/
Media
Nate Hirshberg Vice President, Marketing Shift4 Payments
nhirshberg@shift4.com
James McCusker Managing Director Solebury Trout
jmccusker@soleburytrout.com
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