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- Bank of America Corp. is considering not renewing its merchant-acquiring joint venture with First Data Corp., known as Bank of America Merchant Services, when the contract ends in June 2020, The Wall Street Journal reported, citing unnamed sources. BAMS is the nation’s third-largest acquirer, having processed $840 billion in payment volume last year and is a major revenue generator for First Data, which provides the processing technology for the joint venture.
- Postmates, an on-demand delivery service, said Square Inc. merchants can use the service for deliveries to consumers via an integration in the Square app.
- Ingenico Group launched LinkPlus, a payments service for businesses that accept payments over the phone.
- Payment Data Systems Inc. said the value of payment card processing in the first quarter increased 7% from the year-ago quarter. The company did not release actual figures. The volume of payment card transactions decreased 4%.
- BitPay Inc. named Glen Braganza chief financial officer. Braganza previously worked at Worldpay US as chief financial officer.
- Payment card manufacturer CPI Card Group Inc. said first-quarter net sales grew 22% year-over-year to $66.9 million.
- About 20% of the 50-member team on Facebook Inc.’s secretive blockchain project under the direction of former PayPal president David Marcus comes from Marcus’s old company, Bloomberg reported.
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