Digital Transactions Authoritative, insightful and timely information for payments professionals
Merchant Lynx Services has acquired National Credit Card Processing Group, a provider of B2B payment solutions, for an undisclosed sum. National Card Processing specializes in payment acceptance for the construction and heavy-duty trucking parts and repairs, concrete ready mix, asphalt and aggregate supply, and highway civil construction industries. The acquisition …
July, 2023
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6 July
FIS Makes It Official: It’s Selling a 55% Worldpay Stake to GTCR at an $18.5 Billion Valuation
In a fleeting 10-minute conference call, FIS Inc. announced early Thursday a move to sell a 55% interest in its merchant-processing business, which principally consists of the Worldpay unit it acquired four years ago, to the private-equity firm GTCR. The deal is expected to close by the end of the …
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6 July
Sabre Acquires Gift Card Platform And Other Digital Transactions News briefs from 7/6/23
Travel-technology provider Sabre Corp. announced it has acquired Techsembly, a gift card and e-commerce platform for hotels. The U.S. Payments Forum published a white paper outlining the impact of the Federal Reserve’s clarification that debit card issuers must enable a choice of two unaffiliated networks for all transactions, including card-not-present payments. The clarification took effect …
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5 July
Digital Gift Cards Are Poised to Become a $1 Trillion Market by 2032
The global digital gift card market is projected to reach $1.2 trillion in 2032, up from $310.1 billion in 2022, according to a report from market research firm Custom Market Insights. In 2023, CMI projects sales of digital gift cards will total $399 billion, a more than 28% year over …
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5 July
FIS Is Reportedly Working to Sell a Majority Stake in Its Merchant Unit to GTCR
FIS Inc. is talking to the private-equity firm GTCR LLC about taking a majority stake in the Jacksonville, Fla.-based company’s merchant-processing business, according to a report late Monday from Reuters. The report indicates the talks are “advanced” and value the stake at between $15 billion and $20 billion. The latest …
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5 July
Apple Renews App Store Payments Appeal And Other Digital Transactions News briefs from 7/5/23
Apple Inc. said it will file a renewed appeal with the U.S. Supreme Court regarding a 2021 case that invalidated Apple’s requirement that App Store businesses accept payments only through Apple’s platform. Keys App Inc., a platform provider for locksmiths, launched its Keys App to enable digital payments for services and …
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3 July
Why Goldman Sachs Is Looking for the Exit
An overwhelming risk-management burden, coupled with a lack of familiarity with consumer credit, may have triggered the decision at Goldman Sachs Group to negotiate a withdrawal from its agreement to support Apple Inc.’s credit card and its recently launched buy now, pay later service, according to observers. The Wall Street …
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3 July
Commentary: Developers Don’t Know Enough About Payments. It’s up to Gateways to Fix That
The fundamental problem with payments software is that, for most developers, it’s a necessary evil. They must integrate payment-transaction capabilities so they can get paid for all the other code they’re writing. Now, thanks to one-size-fits-all application programming interfaces and tokenization that devalues everything, developers barely know a PAN from …
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3 July
FIS Mulling New Worldpay Path? And Other Digital Transactions News briefs from 7/3/23
Payments-processing giant FIS Inc. is reportedly looking into selling a majority stake in its Worldpay unit to private-equity firms at a valuation of $15 billion. The news indicates a change in strategy at FIS, which announced in February it intended to spin off Worldpay as a publicly held company some time during the coming …
June, 2023
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30 June
Mitek Turns to Fraud Control As Remote Deposit Capture Matures
Mitek Systems Inc., provider of remote deposit capture and fraud-prevention technology, says revenue for fiscal 2022 grew 20% to $143.9 million from fiscal 2021’s $119.8 million. Much of the growth came from more demand for the company’s fraud-control offerings. San Diego-based Mitek is a leading vendor of remote deposit technology. …
