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- E-commerce spending in the United States surged 93% in May, compared to May 2019, according to Mastercard Inc.’s SpendingPulse data service.
- Installment-payment technology provider Splitit Payments Ltd. said it signed a multiyear deal with Mastercard Inc. to provide access to Splitit’s installment options through Mastercard’s merchant network. Split and Mastercard also plan to jointly develop installment products.
- Mobile-authentication technology provider Payfone Inc. raised $100 million in a funding round led by Apax Digital. Payfone said it will use the funding for acquisitions, technology development, and to build “a cross-industry consortium to secure digital transactions and experiences.”
- German payments provider Wirecard disclosed that €1.9 billion ($2.1 billion) of cash was missing and that “spurious cash balances” might have been provided to its auditor by a third party, CNBC reported.
- Playing on victims’ heightened fears and need for connections to trusted entities during the Covid-19 pandemic, perpetrators of business email compromise frauds have shifted to attacks on larger groups, launching 27% more campaigns on groups of 10 or more in the first quarter compared to the fourth quarter of 2019, according to a report from Abnormal Security.
- Airline-payments processor UATP has reached a cross-promotional marketing agreement with Skal International USA, a promoter of tourism with 45 clubs and nearly 1,800 members in the United States.
- Carrier-billing specialist Boku Inc. agreed to acquire rival Fortumo Holdings Inc. in a transaction valued at $41 million.
- The American Gaming Association trade group released a set of principles aimed at adding electronic-payment services in casinos so that customers wary of using cash have more options.
- Chesapeake Bank, a community bank serving central and eastern Virginia, joined the Clearing House Payments Co.’s real-time payments network, RTP.
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