Digital Transactions Authoritative, insightful and timely information for payments professionals
Nuvei Corp. announced early Tuesday it has entered into a definitive agreement with private-equity firm Advent International to be taken private in an all-cash deal valued at $6.3 billion. The deal comes less than a month after the Montreal-based processor announced it was fielding offers to take the company private. …
April, 2024
March, 2024
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25 March
COMMENTARY: Cap One’s Bid for Discover Will Lift Many Boats
Capital One’s proposed $35.3-billion acquisition of Discover will be a thunderclap for the debit-card, retail-banking, and payment-network markets. The Discover network has long been the number-five U.S. retail-payment network, after Visa, Mastercard, American Express, and PayPal. Since its acquisition of Diners Club from Citi in 2008, Discover has struggled as …
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22 March
ParkHub and JustPark Combo and other Digital Transactions News briefs from 3/22/24
Parking management and payment providers ParkHub said it will merge with JustPark, a United Kingdom-based parking reservations and payments platform. Dallas-based ParkHub said the new organization serves more than 20 million drivers and more than 500 business-to-business clients representing more than $1 billion in booking volume. Terms were not disclosed. Payments provider North …
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20 March
JPMorgan Retains Its Top Acquiring Spot in TSG’s Annual Review
TSG’s yearly review of more than 300 U.S. merchant acquirers is out, and there is little surprise that JPMorgan Chase & Co. retains the top spot with an estimated 2023 U.S. processing volume of $2.4 trillion. While the top three slots in the annual TSG Directory of U.S. Merchant Acquirers …
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18 March
Nuvei Could Be in Play To Be Taken Private by Advent International
Montreal-based Nuvei Corp. early Monday issued a statement confirming it has received interest from potential investors and has created a “special committee” of independent directors to review “expressions of interest” regarding offers to take the company private, as well as other “strategic alternatives.” Private-equity firm Advent International Corp. is making …
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18 March
FIS Enlists AI in Fraud Detection And Other Digital Transactions News briefs from 3/18/24
FIS Inc. said its SecurLock service, working with artificial-intelligence technology from the fintech Stratyfy, is set to increase the volume of card transactions accurately identified as fraudulent, allowing clients to stop the transactions before they are consummated. FIS said the technology “was able to deliver a significant improvement of accurately identified …
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15 March
FedNow User Group Formed and other Digital Transactions News briefs from 3/15/24
The Federal Reserve launched a user group for the 607 financial institutions that have signed on so far to participate in FedNow, the real-time payments network the regulator launched last summer with 35 participants, a count that had reached 400 by January. All live financial institutions and certified service providers are eligible …
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8 March
Blockbuster Deals Aside, a Slower M&A Trend Continues to Grip the Payments Industry
The news nearly three weeks ago that Capital One Financial Corp. is looking to acquire Discover Financial Services stunned the payments industry. But even if the $35.3-billion deal closes in the coming months it will represent a notable exception in the middle of a continuing slowdown in merger-and-acquisition activity in …
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7 March
PayPal Adds Tap to Pay on iPhone And Other Digital Transactions News briefs from 3/7/24
PayPal Holdings Inc. said Tap to Pay on iPhone is available for all Venmo business profile and PayPal Zettle users in the United States. Tap to Pay on iPhone enables merchants to accept contactless payments using an iPhone with no extra hardware, only a payments app. The service had been in …
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6 March
An Active Year Helps Boost Results for Canada’s Nuvei
The big Montreal-based processor Nuvei Corp. has had a busy year since its headline acquisition early in 2023 of Atlanta-based Paya Holdings Inc., and late on Tuesday it disclosed how that activity has helped buoy its financial results. Nuvei, which was known until 2018 as Pivotal Payments, reported it processed …
