Digital Transactions Authoritative, insightful and timely information for payments professionals
Payroc WorldAccess LLC has acquired Atlantic Merchant Services, LLC for an undisclosed sum. Raleigh, N.C.-based-Atlantic Merchant serves merchants and businesses across the mid-Atlantic region, as well as West Virginia, Tennessee, Michigan, and Texas. Atlantic Merchant’s services include touchscreen POS, mobile solutions, e-commerce, countertop terminals, and smart-phone applications. Merchant segments serviced …
May, 2023
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9 May
Payrange Acquires Vagabond And Other Digital Transactions News briefs from 5/9/23
Payrange Inc., a payments provider for the vending and unattended-retail market, announced it has acquired Vagabond, a cloud-based provider of business intelligence for the convenience-retail industry. Terms were not announced. Sales of contactless cards helped payment card manufacturer CPI Card Group Inc. increase overall first-quarter sales 8% year-over-year to $120.9 million, with sales …
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5 May
GoDaddy Payment Volume Tops $1 Billion and other Digital Transactions News briefs from 5/5/23
GoDaddy Inc. reported payments volume from its various commerce services surpassed $1 billion annualized in the first quarter. The Web registrar has launched a number of payments initiatives in the past year, most recently a service that supports transactions through Microsoft Teams. Thinkific Labs Inc., a platform that supports creating, marketing, and …
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4 May
Shift4 Busies Itself with Domestic Expansion As It Waits for Clearance on Its Finaro Deal
Shift4 Payments Inc. is still waiting on approval from European regulators to complete its $525-million Finaro acquisition, but in the mean time the Allentown, Pa.-based processor has been busy expanding in its home market. That expansion includes yet other acquisitions aimed at consolidating Shift4’s grip on the restaurant point-of-sale market, …
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2 May
Rev Worldwide Closes Netspend Deal And Other Digital Transactions News briefs from 5/1/23
Working with Searchlight Capital Partners, payments provider Rev Worldwide closed on its $1-billion all-cash acquisition of the Netspend consumer business from Global Payments Inc. Netspend is a specialist in prepaid and debit cards for more than 100,000 retail locations. Payments provider Finix Payments Inc. said it is now a payment processor, having completed direct connections to …
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1 May
Global Payments Looks for Big Results From EVO As Long-Time CEO Sloan Prepares to Leave
The big processor Global Payments Inc. on Monday morning announced upbeat first-quarter results but also said its chief executive, Jeff Sloan, is departing after nine years in the role. Sloan, who will leave Global Payments June 1 and will be succeeded by long-time president and chief operating officer Cameron Bready, …
April, 2023
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28 April
How Tighter Money And Longer Diligence Have Slowed a Once ‘Frothy’ M&A Market
A sort of disequilibrium has set in in payments mergers and acquisitions, leading to fewer deals and stretched out times to conclude the deals that do close, according to M&A experts who spoke this week at the Electronic Transactions Association’s Transact conference in Atlanta. The new dispensation contrasts sharply with …
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27 April
FIS Profit up 17.5% And Other Digital Transactions News briefs from 4/27/23
Payment processor and core banking provider FIS Inc. posted first quarter revenue of $3.51 billion, a 0.6% increase from $3.49 billion in the same quarter in 2022. Its net income of $141 million was 17.5% greater than the $120 million profit a year ago. FIS’s merchant solutions segment had revenue of $1.1 …
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26 April
Visa Credit Card Volume up 5.2% And Other Digital Transactions News briefs from 4/26/23
Visa Inc.’s U.S. debit card payments volume of $767 billion in its fiscal second quarter increased 9.6% from $699 billion in the quarter ending March 31 a year ago. Its U.S. credit card payments volume of $704 billion was a 10.5% increase from $638 billion a year ago. For all regions, Visa’s …
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20 April
Pulse Volume up 9% And Other Digital Transactions News briefs from 4/20/23
Discover Network reported $54.1 billion in Discover Card volume for the first quarter, up 9.5% over the same period last year. Discover’s Pulse debit network processed $65.3 billion in volume, a 9% increase year-over-year. Revenue net of interest expense rose 29% to $3.75 billion, but net income dropped 21% year-over-year owing …