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- E-commerce marketplace and payments-technology provider Shopify Inc. reported revenue for the quarter ended June 30 of $245 million, up 62% year-over-year. Gross payments volume totaled $3.6 billion, up 64% from $2.2 billion in the same quarter last year. Shopify posted a $30.8 million operating loss, nearly double the $15.9 million loss posted last year. The Shopify Capital merchant cash advance service issued $68.5 million in advances in the quarter, up 84%.
- Aliant Payment Systems, one of the first independent sales organizations to offer cryptocurrency acceptance to merchants, announced a new, in-house service that will convert crypto to dollars before deposit to merchant accounts. The service is backed by an unnamed U.S. bank to facilitate payments and compliance with federal regulations and know-your-customer and anti-money-laundering rules. In May, Aliant forged a merchant-referral arrangement with iPayment Inc., a unit of payments provider Paysafe Holdings UK Ltd., for crypto processing.
- Payments provider North American Bancard Holdings LLC launched Payments Hub, a portal that allows merchants using NAB for processing to access reporting on transactions and deposits and carry out such functions as managing disputes, sending invoices, and ordering supplies.
- Harbortouch, a point-of-sale unit of Shift4 Payments, launched Harbortouch Bar & Restaurant, a POS system built on the Android platform and featuring cloud connectivity. Modules support tableside ordering via tablet, online ordering, and online reservations.
- American Express Co. said it will conduct a review to determine whether it violated its own standards following a report in The Wall Street Journal that it lured in small-business and other customers with low currency-conversion rates and raised those prices without telling them, according to Investor’s Business Daily.
- Long-time Olympic Games sponsor Visa Inc. has renewed its sponsorship through 2032.
- Hy-Vee, which operates 245 grocery stores in eight Midwestern states, has adopted a store system from GK Software that includes a payment service and capability for mobile-app self-scanning.
- Scalefast, which offers an e-commerce platform for sellers in the entertainment, consumer-goods, and fashion industries, said it is integrating payments capability from gateway provider Adyen.
- Financial-institution processor Fidelity National Information Services Inc. (FIS) reported net income of $212 million in the second quarter, up 53% from $139 million a year earlier. Revenues, affected by the divestiture of a Chinese business, fell 7% to $2.11 billion.
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