Bruce Lowthers took over a stumbling Paysafe Ltd. back in May, and now with three months evaluating the company behind him, the new chief executive early Wednesday offered encouragement mixed with some tough talk. Speaking particularly about product innovation, Lowthers lowered the boom, citing what he sees as an imbalance …
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Financial-technology provider Jack Henry & Associates Inc. said it will acquire Payrailz, a provider of digital-payments technology, including real-time peer-to-peer payments capability. Terms of the transaction, which is expected to close by the end of the month, were not disclosed.Payments platform BlueSnap has agreed to support KeyBank’s U.S payments gateway for e-commerce transactions by middle-market …
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Cashless sales in unattended retail locations, such as vending machine and kiosks, jumped significantly in 2021, totaling 62% of sales in October 2021, up from 51% in January 2020, says a report from vending-machine specialist Cantaloupe Inc. As a result of the rise in cashless sales, the percentage of cash …
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Merchant acquirers continue to reap the benefits of a bustling economy. Nuvei Corp., a Montreal-based acquirer, said its payments volume increased 38% in the second quarter, and Alpharetta, Ga.-based Priority Technology Holdings Inc. said its bank card processing volume increased 14.3% in the quarter. Nuvei said its payments volume topped …
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Restaurant-technology provider ParTech Inc. announced it has acquired Menu Technologies AG, an omnichannel ordering platform serving international restaurant brands. Terms were not disclosed.The Western Union Co. expanded its integration of Visa Direct, Visa’s real-time payment service, to its U.S. network, enabling consumers to send or receive funds directly to their eligible Visa debit …
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The upward trajectory of buy now, pay later loans shows no signs of leveling off. By 2027, the number of BNPL users globally is projected to more than double, surpassing 900 million, up from 360 million in 2020, according to Juniper Research. The growth will be driven in part by …
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Increasing issuance of contactless cards, along with stronger demand from instant-issuance platforms, are generating tailwinds for at least one of the companies that produce payment cards. CPI Card Group Inc. early Monday cited these factors in reporting record sales for the June quarter, leading top executives at the Littleton, Colo.-based …
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Forage Technology Corp., a payment processor specializing in SNAP EBT acceptance for grocers, said it raised $22 million in Series A funding led by venture capital firm Nyca with participation from PayPal Ventures, EO Ventures, and the founder of Instacart, a grocery delivery provider.Infinicept, an embedded payments specialist, launched Infiniport, its …
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MoneyGram International Inc. said its MoneyGram Online digital service had second quarter revenue of $53.3 million, up 13% from $47 million in the same quarter in 2021. Its overall revenue of $329.6 million in the quarter, was up slightly from $329.3 million revenue in the 2021 second quarter. MoneyGram posted a …
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State Farm Insurance has expanded its relationship with Fiserv Inc. to enable claims payouts into customers’ PayPal accounts. The agreement expands the capabilities State Farm’s Digital Pay solution, which digitally reviews, approves, and disburses auto and fire claims payments. Consumers can select their preferred payout method, such as sending the …
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