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- The Bancorp Inc., which provides payments and other financial services to fintechs, reported September quarter-net income of $51.5 million, up slightly from $50.1 million a year ago. Gross dollar volume on prepaid and credit cards grew 15% to $37.9 billion. Payment fees from prepaid and debit cards, automated clearing house activity, and other sources rose 16% to $27.8 million.
- Fraud-prevention specialist AuthenticID released AuthenticID360, new identity-verification platform, which promises a 2-second response time on identity transactions.
- U.S. banks and financial-services providers have opened a big lead over European institutions in the race to introduce embedded finance, according to research from PSE Consulting and TSG (formerly, The Strawhecker Group).
- Buy now, pay later specialist Sezzle said it will support transactions for merchants doing business in the U.S. market on Shoplazza, an e-commerce platform.
- Xsolla, a U.S.-based platform that supports payments within videogames, said it has expanded into Cambodia and Indonesia. The market in Cambodia alone is expected to reach $75.21 million in payments volume by 2027, Xsolla says.
- Finix, a payments processor handling both in-store and e-commerce transactions, said it raised $75 million in a Series C funding round led by Acrew Capital, Leap Global, and Lightspeed Venture Partners.
- Payments-orchestration platform IxoPay has named former private-equity executive Suzanne Rudnitzki president and chief operating officer.
- The Worldwide Stablecoin Payment Network (WSPN) named former banker Austin Campbell chief executive of its U.S. operation. Campbell’s experience includes executive roles at JPMorgan Chase and Citibank.
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