News

November, 2022

• 3 November

  Block Pursues a ‘Compelling Opportunity’ in Linking Cash App With Square

  

  Block Inc. is the parent of the well-known Square point-of-sale equipment and processing business, but it’s the company’s Cash App unit that has been stealing a steadily growing share of the limelight at the 13-year-old company. And now Block is working to find ways to link its two big units …
• 3 November

  SoundExchange Adds Zelle and Cash App for Payment of Digital Performance Royalties

  

  SoundExchange, a non-profit that collects and distributes digital performance royalties for sound recordings, is now enabling registered soundtrack creators to receive royalty payments through Zelle and Block Inc.’s Cash App mobile-payment service. Washington D.C.-based SoundExchange is a non-profit collective rights-management organization designated by Congress to collect and distribute digital-performance royalties …
• 3 November

  Bakkt To Acquire Apex for $200 Million and other Digital Transactions News briefs from 11/3/22

  

  Cryptocurrency platform Bakkt Holdings Inc. has agreed to pay $200 million to acquire Apex Crypto LLC, a crypto-trading platform for fintechs, from Apex Fintech Solutions Inc. Card manufacturer CPI Card Group Inc. said credit and debit card sales helped propel its third quarter revenue to $124.6 million, a 25.1% increase from $99.6 million in …
• 3 November

  Eye on Earnings: FIS Faces an ‘Uncertain Environment’ While EVO Looks to a Merger With Global Payments

  

  Two of the more significant merchant-processing operators reported quarterly results Thursday morning, with FIS Inc. indicating its merchant solutions unit recorded $1.18 billion in revenue in the period ended Sept. 30, up 4% year-over-year. Meanwhile, the large payments provider EVO Payments Inc. said its revenue for the same period totaled …
• 2 November

  Eye on Blockchain: Circle Financial And Paxos Gain a Foothold in Singapore

  

  Two U.S.-based fintechs focused on blockchain payments technology have expanded their footprint into Singapore, giving both companies a jumping-off point for expanding their respective businesses in Asia. Circle Internet Financial LLC, a Boston-based company specializing in commercial blockchain and crypto applications, has received provisional approval from the Monetary Authority of …
• 2 November

  If More States Allow Digital IDs, More Mobile Payments Could Follow

  

  A nascent movement among states to allow citizens to store a driver’s license or other state ID card in a mobile app could give mobile payments a lift, according to research released early Wednesday. Arizona in March was the first state to allow its citizens the option of storing a …
• 2 November

  Orum Makes MX Tie-in And Other Digital Transactions News briefs from 11/2/22

  

  The payments platform Orum said it will rely on account-verification technology from open-banking provider MX Technologies Inc. to offer money-transfer capability targeted at fintechs.Checkout-free shopping provider Grabango said its in-store contactless checkout service is available at a Chevron U.S.A. Inc. location in California.Bluefin Payment Systems acquired TECS Payment Systems, an Austria-based omnichannel payments provider. Terms were not …
• 1 November

  As Open Banking Expands, Socure Offers a Tool to Verify Account Status And Ownership

  

  Socure Inc., a provider of digital-identity verification and fraud detection, has become the latest company to join the expanding universe of open-banking technology providers. On Tuesday, Socure announced the launch of Socure Account Intelligence, an application that verifies domestic bank-account status and ownership of the account into which funds are …
• 1 November

  Paya Launches a Platform to Drive Deeper Into the Utilities Market

  

  The payments processor Paya Holdings Inc. on Monday announced UtilityConnect, an initiative aimed at deepening the Atlanta-based company’s involvement in processing for governments, municipal entities, and private utilities. The new portal, which features a redesigned user interface, features new services aimed at easing citizen payments to local governments, including settings …
• 1 November

  Amazon Launches Cash Advances And Other Digital Transactions News briefs from 11/1/22

  

  Amazon.com Inc. has launched a merchant cash advance service. The financing option, a white-label service of capital provider Parafin Inc., ties the cash advance to a portion of the merchant’s future sales for a fixed fee. It rolls out for some U.S.-based businesses Tuesday and should be available to many more …