Digital Transactions Authoritative, insightful and timely information for payments professionals
- Francisco Partners, a private-equity fund, has made an investment in Network Merchants Inc., a provider of payments technology and gateways to merchants and independent sales organizations. The unspecified investment is said to be “substantial.” Consequent to the deal, existing investor Bregal Sagemount will exit, and existing investor Great Hill Partners will “remain a significant investor,” NMI says.
- Merchant acquirer Global Payments Inc. completed its $1.2 billion acquisition of two divisions of Active Network LLC, an event-management software provider and payment processor. Global expects Active to contribute $13 million to $14 million to its third-quarter revenues.
- Merchant processor Net Element Inc. said its Unified Payments unit has begun offering its Zero-Fee program, which allows merchants to pass on to customers credit card processing fees via a service charge.
- Wal-Mart Stores Inc. is rolling out Express Money Services, an expedited money-transfer feature on the Walmart app that lets customers stage transfers at home and complete them at the store. Customers can use the service for domestic and international money transfers now, with bill payments and check cashing to follow. the company says. The new service is part of the Walmart2walmart money-transfer service the retailer introduced three years ago.
- In related news, MoneyGram International Inc. expanded its MoneyGram MobilePass service to all of its U.S. agent locations. The service, which started as a pilot last year in 3,000 locations, allows users to start a transaction on a mobile device or online and finish it at an agent office.
- The U.S. Payments Forum and Conexxus, a non-profit that develops standards for the convenience-store and petroleum market, will hold a free webinar Sept. 20 for petroleum merchants to provide guidance about accepting EMV chip cards at fuel pumps.
- Bank of America released an updated version of its mobile app that includes cardless-cash access at more than 10,000 ATMs.
- Mitek Systems Inc., the developer of mobile remote deposit capture and identity-verification software, said a “popular dating Web site” will use its Mobile Verify product for document authentication and facial comparisons to establish trust among its users. Mitek did not identify the dating site.
- Payments provider Fitech Payments LLC promoted Shawn Dillon to president. Dillon, a payments veteran, had been general manager at the company.
- Visa Inc. has appointed Charlotte Hogg executive vice president and chief executive officer for its European operations, effective Oct. 1. Hogg most recently was chief operating officer for the Bank of England.
Related Articles
Check Also
Flywire Teams With Blackbaud to Enable Cross Border Tuition Payments in the U.S.
Flywire Corp., a specialist in payments for higher education, has partnered with Blackbaud Inc., a …