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- Block Inc.’s Square point-of-sale technology unit announced a slew of restaurant initiatives, including a link with distributor Performance Foodservice to market Square to 125,000 U.S. and Canada-based clients; integrations with dining-technology providers; links to restaurant associations in Illinois, California, and New York state; and a recommendation engine based on machine learning. Square also released its Spring quarterly restaurant report that found the trend to more remote and hybrid office workers has shifted more restaurant spend to the weekend instead of the weekday because not as many individuals get lunch near their offices or have drinks after work.
- Payments data platform Pagos released Copilot, its artificial intelligence-based tool to help with payments insights. Among its capabilities are knowledge of how payments work, the ability to query specific data about a merchant’s payments activity, and in-depth analytics.
- Verifone, a provider of point-of-sale payments technology, has joined with Denmark-based Logos Payment Solutions to develop technology for unattended payments.
- Subscription payments specialist Recurly Inc. released its “The Payment Experience Is Critical to Subscriber Growth and Retention” report that found issues with payments led 61% of respondents reporting revenue loss. Recurly commissioned the Forrester Consulting survey of 163 executives in the United States and United Kingdom.
- POSaBIT Systems Corp., a provider of payments technology for cannabis sellers, reported a 7% drop in revenue for 2023, to $43.6 million, with a reversal in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) from $7.51 million to a negative $5.65 million.
- ATM and banking technology provider NCR Atleos Corp. reported March-quarter revenue of $1.05 billion, up 6.5% year-over-year. Total adjusted EBITDA was $162 million, an 11% increase.
- Processor Nuvei Corp. announced it has mailed a letter to shareholders, with a management proxy circular, related to the company’s announcement early last month of its intention to be taken private by Advent International Corp. in a $6.3-million all-cash transaction.
- Bitcoin Depot, a provider of self-service machines to acquire Bitcoin, reported $138.5 million in revenue for the March quarter, down 15% year-over-year. Its $6.1 million in net income a year ago swung to a net loss of $4.2 million. For the 12 months ending March 31, revenue inched up 1%, to $663.9 million, with a net loss of $8.8 million. For the 12 months ended March 31, 2023, the company posted net income of $13 million.
- Data platform Consumer Edge Holdings LLC said it will supply for the fourth consecutive year consumer data aggregated from more than 100 million credit and debit cards, including more than 35 million with activity in the past 12 months, more than 12,000 merchants, and more than 80 same-store sales measurements to the Federal Reserve Bank of Chicago for its Advance Retail Trade Summary report.
- ATM maker Hyosung Americas appointed Kunoh Kim its chief executive. Advancing from within Hyosung, where he worked on integrated payments and big data platforms, Kim also worked at Hyosung TNS in South Korea and the parent Hyosung Corp.
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