Digital Transactions Authoritative, insightful and timely information for payments professionals
Fast-growing payment technology and software provider SpotOn Transact Inc. said Wednesday that it raised $50 million in a Series B funding round that included 01 Advisors, an investment firm led by three former Twitter Inc. executives. SpotOn, which says its revenues increased by more than 150% in 2019, will use …
March, 2020
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9 March
SurchX Sold to InterPrivate and other Digital Transactions News briefs from 3/9/20
Private-equity firm InterPrivate LLC announced the acquisition of SurchX, a payments provider offering surcharging programs. SurchX was renamed InterPayments. Terms were not disclosed.ParTech Inc., a subsidiary of PAR Technology Corp., announced an application programming interface integration with eTouchMenu, a digital-menu provider, and ParTech’s Brink POS software.Priority Payment Systems, a subsidiary of …
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6 March
Square’s Dorsey Reconsidering His Africa Relocation and other Digital Transactions New briefs from 3/6/20
Jack Dorsey, the co-founder and chief executive of Twitter Inc. who also is the CEO of merchant processor Square Inc., told an investor conference he is reconsidering his plan to spend much of his time this year in Africa because of Covid-19, the coronavirus, “and everything else going on,” Bloomberg …
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3 March
Eye on Acquisitions: Fiserv Acquires ISO MerchantPro Express; RevSpring Adds Loyale Healthcare
After a more than 10-year relationship with MerchantPro Express LLC, processor and banking-services provider Fiserv Inc. is bringing the Melville, N.Y.-based firm in house with an acquisition of the independent sales organization. Announced Tuesday, the deal sees the long-time partner—likely with First Data Corp., which Fiserv bought last year—acquired as a …
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3 March
Shazam To Offer TCH’s Real Time Payments and other Digital Transactions News briefs from 3/3/20
Debit network Shazam Inc. said it will offer The Clearing House Payments Co. LLC’s Real Time Payments service to its member financial institutions.POS Supply Solutions said it acquired Paper-Net, a point-of-sale consumables supplier, earlier this year. Terms were not disclosed. Paper-Net will take on the POS Supply Solutions branding.Professional Data Solutions Inc. (PDI), …
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2 March
COMMENTARY: Worldline And Ingenico: The What, the Why, And What’s Next? Part II
The combination of the French payments colossi Worldline S.A. and Ingenico Group S.A. spans multiple adjacent, but historically distinct, markets across the payments value chain. Issuer processing has been an oligopoly of ponderous, industrial-strength scale players such as Worldline, FIS, Fiserv/First Data, Total Systems, SIA/SSB, Nets, and Evry/Tieto. The traditional …
February, 2020
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28 February
COMMENTARY: Worldline And Ingenico: The What, the Why, And What’s Next? Part I
Worldline S.A.’s $8.6 billion bid to buy Ingenico Group S.A. would create a Gallic champion to take on America’s processing titans—Fidelity National Information Services Inc. (FIS), Fiserv Inc., and Global Payments Inc.—all of which have significant European businesses, though none has made headway in the Continent’s second-largest payment market, France. …
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26 February
Clover Station Pro Debuts and other Digital Transactions News briefs from 2/26/20
Fiserv Inc. announced its Clover unit has launched Clover Station Pro, a cloud-based point-of-sale device featuring a customer-facing countertop display and software specific to quick-service and full-service restaurants on the Clover platform.Elavon Inc., the merchant acquiring unit of U.S. Bancorp, announced the sale of its Mexico-based operations to banking giant Santander …
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24 February
More Than 600 FIs Join Zelle Via Fiserv and other Digital Transactions News briefs from 2/24/20
Fiserv Inc. announced more than 600 financial institutions have joined the Zelle peer-to-peer payments network through its Turnkey Service for Zelle program, with more than 300 of those institutions coming on board last year.Private-equity firm Great Hill Partners and payments provider VersaPay Corp. announced the closing of the previously announced acquisition of VersaPay by an …
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20 February
Ally Financial Agrees to Buy CardWorks, Parent of Major Acquirer Merrick Bank
Ally Financial Inc. announced this week it will buy CardWorks Inc. for $2.65 billion. CardWorks owns Merrick Bank, a major player in merchant acquiring. In the deal, expected to close in the third quarter, Detroit-based Ally says Merrick Bank will merge into Ally Bank. Merrick has approximately $32 billion in …
