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- Payments provider Clearent LLC and Transaction Services Group, a New Zealand-based software and integrated payments provider, will merge and form Xplor Technologies, TSG announced. Terms were not disclosed. Both companies are part of investor Advent International’s portfolio. The combined company will serve more than 82,000 businesses that processed more than $27 billion in 158 countries in 2020. The deal is expected to close in the second quarter and Xplor will be based in Atlanta.
- Paysafe Group said it is using Snowflake, a data cloud company, to aid its data models. By using artificial intelligence and machine learning data models aided by Snowflake, Paysafe aims to improve the customer experience. Paysafe is transitioning to a cloud-based approach for its payments services.
- Buy now, pay later payments provider Klarna AB reported gross merchandise volume processed in 2020 grew 46% to a record high $53 billion. It served some 87 million active users in the year, as well as more than 250,000 merchants. Its user count in the U.S. market reached 15 million during the year, with 20 of the country’s 100 largest merchants having adopted Klarna.
- Buy now, pay later provider Afterpay Ltd. reported the number of active merchants totaled 74,700 in the first half of its fiscal 2021, up 73% from the first half of 2020. Its number of active consumers reached 13.1 million globally and the number of active consumers in North America topped 8 million.
- Buy now, pay later specialist Affirm Inc. will make “broadly available” later this year a debit card users can present to pay for goods all at once from a bank account or over time.
- E-commerce platform GoDaddy Inc. announced an expansion of plug-ins, including one enabling the acceptance of payments from multiple processors.
- Stablecorp, creator of the stablecoin QCAD, said it has closed a $2-million (Canadian) funding round and has launched VCAD, backed by deposits at Versabank. The new stablecoin is the world’s first bank-issued, deposit-based digital currency, Stablecorp says.
- Payments provider EVO Payments Inc. reported fourth-quarter revenue of $116.7 million, down nearly 10% year-over-year. For all of 2020, revenue was $439.1 million, a 10% decrease from 2019.
- Payments-technology provider ACI Worldwide Inc. reported $387 million in fourth-quarter revenue compared to $399.8 million in the same period in 2019, down 3%. For full-year 2020, revenue totaled $1.29 billion, versus 2019 revenue of $1.26 billion.
- Unattended payments specialist USA Technologies Inc. announced a $55 million stock investment from multiple unnamed institutional investors. Proceeds will be used for general purposes.
- Paya Holdings Inc. said its First Billing Services unit will provide electronic billing and payment services to Agent511, a customer contact services provider, enabling consumers to view and pay bills through multiple channels.
- Commerce provider BlueSnap Inc. announced the launch of its Healthcare Payment Solutions for Platforms service.
- Alliance Data Corp. reissued the Victoria’s Secret private-label card with contactless payments capability.
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