Digital Transactions Authoritative, insightful and timely information for payments professionals
• Payments provider Clearent LLC completed its purchase of Payment Alliance International’s Merchant Services Division. The deal expands Clearent’s annual processing volume to $14 billion.
• International payment-services provider Planet Payment Inc. reported that it processed a total of 191.6 million settled transactions in 2016, down 16% from 227.5 million transactions in 2015; total settled dollar volume processed decreased 1% to $8.18 billion.
• Merchant processor CardConnect Corp. reported bank card volume of $22.3 billion in 2016, up 31% from $17.1 billion in 2015. The company expects volume to grow this year by 20% to 22% to about $27 billion.
• London-based cross-border payments platform provider Currencycloud announced a £20 million ($25 million) Series D funding round with new investment from Alphabet Inc.’s GV venture-capital arm formerly known as Google Ventures, and additional funding from existing investors Notion Capital, Sapphire Ventures, Rakuten FinTech Fund, and Anthemis. Total investment in the five-year-old company now stands at £44 million ($61 million).
• ATM manufacturer Diebold Nixdorf said it will close a factory near Budapest, Hungary, and move its production to other facilities by Sept. 30; the plant, which opened in 2006, employs 150 workers and primarily serves customers in Europe, the Middle East, Africa, and Latin America.
• Verifi Inc., which specializes in risk management for card-not-present merchants, named Krista Tedder as vice president of product strategy. Tedder previously worked at Mastercard Inc. and First Data Corp.
• Point-of-sale equipment supplier General Credit Forms Inc. said Gary Payne, national sales manager at South Seas Data LLC, a sister company to GCF, died Feb. 15. Payne, who joined South Seas Data in 2010, previously worked at IBM, Motorola, VeriFone, and Hypercom.
