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- Amazon.com Inc. has launched a merchant cash advance service. The financing option, a white-label service of capital provider Parafin Inc., ties the cash advance to a portion of the merchant’s future sales for a fixed fee. It rolls out for some U.S.-based businesses Tuesday and should be available to many more by the end of 2023, Amazon said. Advances range from $500 to $10 million.
- ParTech Inc. announced its Punchh loyalty technology is now supporting the launch and management of subscription programs for large restaurants and convenience stores.
- In related news, the restaurant-payments platform TouchBistro said it has completed a $150-million (Canadian) funding from Francisco Partners.
- Electronics retailer Newegg Commerce Inc. said buy now, pay later services from Affirm Inc. are available to its consumers in Canada.
- MoneyGram International Inc. has launched a capability allowing U.S. consumers to buy, sell, and hold cryptocurrency in the company’s mobile app. The feature, which includes Bitcoin, Ethereum, and Litecoin, works in “nearly all U.S. states and the District of Columbia,” MoneyGram says.
- Payment security provider PCI Pal said airline Air Europa will use its service in its contact centers to securely process credit card information.
- Wirex, a payments platform specializing in cryptocurrency, launched DUO, a tool allowing the platform’s 5 million users to earn returns on their holdings.
- Beyond Bancard named Steve Eazell vice president of business development. Eazell has more than 20 years’ experience in payments and most recently was managing member of Eazy Consulting.
- Alex Gonthier has returned to the chief executive role at Trustly Inc., the Americas unit of Trustly AB, a specialist in payments based on open banking. The founder and former CEO of PayWithMyBank, Gonthier had moved into the role of Trustly’s executive chairman last year.
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