Digital Transactions Authoritative, insightful and timely information for payments professionals
Lightspeed Commerce Inc. announced it is supplying payments capability for the Myrtle Beach Area Golf Course Owners Association in South Carolina, which includes more than 70 golf courses. The Western Union Co. resumed service between the United States and Cuba after technical issues in January disrupted it. Payments provider Priority Technology Holdings Inc. reported $205.7 million …
May, 2024
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3 May
Accel-KKR Picks up Accertify and other Digital Transactions News briefs from 5/3/24
Accertify, which provides fraud prevention, chargeback management, account protection, and gateway services, said private equity firm Accel-KKR completed the acquisition of the company from American Express Co., which it acquired in 2010. Terms were not disclosed. The U.S. Payments Forum announced a white paper exploring the links between connected cars and contextual …
April, 2024
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26 April
Swallowing Discover Will Energize Competition, Not Restrict It, Cap One’s CEO Argues
Capital One Corp.’s chief executive late Thursday struck back against concerns that the banking giant’s proposed acquisition of Discover Financial Services will dampen competition in banking and payments. “The facts will show there are no barriers to entry in the credit card business,” declared Richard Fairbank as he fielded questions …
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23 April
A Fast-Expanding Clover Provides a Hot Engine for Growth at Fiserv
Fiserv Inc. has been an acquisitive payments processor in recent years, but it’s a deal the company concluded nearly five years ago that is energizing growth at the company. Fiserv’s $22-billion acquisition of First Data Corp. in the summer of 2019 brought Clover, a set of point-of-sale technologies that today …
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23 April
MPC’s New CCCA Ad and other Digital Transactions News briefs from 4/23/24
The Merchants Payments Coalition released a 30-second TV ad that says the Credit Card Competition Act, a measure that would stipulate merchants have credit card routing choices, would prohibit China’s credit card network UnionPay from processing U.S. credit card transactions. Currently, no regulation prohibits that the MPC says. The CCCA, if passed, would …
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18 April
In an Abbreviated Call, Discover Sticks to the Numbers And Stays Mum About Cap One
Executives at Discover Financial Services Inc. early Thursday cut short their first-quarter 2024 earnings call, saying in advance they would not take questions after the presentation. Instead, equity analysts listening to the presentation were told to direct questions to Discover’s investor-relations team. On the call, executives duly reported a significant …
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2 April
Nuvei Strikes a Deal With Advent International to Go Private
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. …
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 …
