Digital Transactions Authoritative, insightful and timely information for payments professionals
- KioSoft Technologies has agreed to license technology from PayRange Inc. in a deal that could exceed $62 million in value over a 10-year period. The agreement stems from a settlement of a four-year dispute in which PayRange, a provider of payments technology for the laundry and vending industries, alleged KioSoft infringed its patents.
- PayPal Holdings Inc. intends to cut its worldwide payroll by 2,500 jobs, a 9% reduction, according to a report by Reuters, which cites a staff letter by chief executive Alex Chriss. Chriss succeeded former CEO Dan Schulman in September.
- Apple Inc. said the more than 12 million Apple Card users have earned more than $1 billion Daily Cash from their 2023 spending. Apple Card launched in 2019 and has been issued by Goldman Sachs, though that is likely to change because Apple sent a proposed exit plan to the bank in November.
- Financial-services provider College Ave launched the Ambition Mastercard, a secured credit card aimed at college students.
- LawPay, a payments platform for law firms and a unit of AffiniPay, launched next-day funding for payments received by firms.
- Paystand said its blockchain-based business-to-business payments platform has been integrated with Acumatica, a cloud-based business-management service.
- Fundraising-technology platform Gravyty has launched DAFpay, a service allowing donors to flow contributions from a donor-advised fund (DAF) to registered nonprofits.
- Payments platform Klarna AB said it is re-introducing Money Story, a facility in the Klarna app that summarizes personal spending and suggests budgeting and saving plans.
- A record low 29% of ransomware victims paid the ransom demanded by cyberthieves in the last quarter of 2023, according to figures from Coveware, a specialist in ransomware negotiation. The latest numbers continue a downward trend from rates as high as 46% in mid-2021 and 85% in early 2019.
- Payment gateway and embedded payments provider NMI named Casey Jameson chief talent officer and promoted Phillip Goericke to chief technology officer. Jameson has held positions at StoryBuilt and Stack Sports. Goericke had been NMI senior vice president of engineering since joining the company in 2022.
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