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- Two U.S. banks, Custodia Bank and Vantage Bank, executed what they say is the country’s first tokenization via blockchain of U.S. dollar demand deposits held at a bank, with the resulting transfer and redemption of stablecoins for a customer. The banks say the test carried low transaction costs and fast settlement.
- Buy now, pay later specialist Splitit launched Splitit Card Installments, a fully embedded app for Shopify Inc. merchants, making Splitit a part of the Shopify checkout process. A white-label service, merchants can brand the BNPL option, Splitit says.
- The digital marketplace Upside said it will work with card-issuing platform Marqeta to allow Marqeta users to access Upside’s cash-back offers.
- Ransomware attacks ballooned 132% in the second half of 2024, despite a 35% drop in payments, indicating “a shift in attacker strategies to double down on ransomware efforts,” according to the 2H 2024 Threat Intelligence Report from Ontinue.
- U.S.-based payments provider ACI Worldwide Inc. said it has agreed to extend an agreement by which it provides payments orchestration to Co-op, a United Kingdom-based operator of 2,400 c-stores.
- Convenience-store operator EG America LLC has chosen point-of-sale provider PAR Technology to support a relaunch of EG America’s SmartRewards loyalty program. EG America operates more than 1,500 c-stores under various brands across the United States.
- Paysign Inc., a prepaid card and payments platform, has moved more deeply into medical payments with its acquisition of the assets of Gamma Innovation LLC, a provider of engagement technologies aimed at patients. Terms were not announced. As part of the deal, Michael Ngo, formerly Gamma’s managing member, has been appointed chief innovation officer at Paysign.
- The Western Union Co. said it will work with the technology provider HCLTech as the money-transmission service moves toward a platform supported by artificial intelligence.
- EasyPark Group, whose app enables mobile parking payments and other services, said it will work with Google Inc.’s cloud-based artificial-intelligence technology to help spur its expansion around the world.
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