News

August, 2022

• 11 August

  Marqeta Posts Big Numbers As Gardner Says He’s Moving Out of His CEO Role

  

  The card-issuing platform Marqeta Inc. on Wednesday reported processing volume of $40 billion for the June quarter, a 53% increase over the same time last year, but the 12-year-old company also announced its founding chief executive is leaving that position. Jason Gardner, a well-known payments entrepreneur, said he will move …
• 11 August

  Finix Raises $30 Million And Other Digital Transactions News briefs from 8/11/22

  

  Finix, a payments provider for software platforms, raised $30 million in its latest funding round, bringing its total funding to $133 million. American Express was among investors.Unit, whose technology allows firms to weave accounts, payments, cards, and other banking services into their products, said it has partnered with Thread Bank, a …
• 10 August

  Bank-Transfer Specialist Sionic Is Set to Launch a Reseller Program

  

  Sionic Mobile Corp., a provider of consumer-to-business payments technology, will launch a program that enables independent sales organizations, agents, independent software vendors and other resellers to provide merchant clients with a new Pay-by-Bank service in the United States. The program, which will launch Sept. 1, is intended to help resellers …
• 10 August

  Ninety Days Into the Role, Paysafe’s CEO Has Tough Love for His New Company

  

  Bruce Lowthers took over a stumbling Paysafe Ltd. back in May, and now with three months evaluating the company behind him, the new chief executive early Wednesday offered encouragement mixed with some tough talk. Speaking particularly about product innovation, Lowthers lowered the boom, citing what he sees as an imbalance …
• 10 August

  Jack Henry Snaps up Payrailz And Other Digital Transactions News briefs from 8/10/22

  

  Financial-technology provider Jack Henry & Associates Inc. said it will acquire Payrailz, a provider of digital-payments technology, including real-time peer-to-peer payments capability. Terms of the transaction, which is expected to close by the end of the month, were not disclosed.Payments platform BlueSnap has agreed to support KeyBank’s U.S payments gateway for e-commerce transactions by middle-market …
• 9 August

  Cashless And Contactless Sales in Unattended Retail Post Robust Gains

  

  Cashless sales in unattended retail locations, such as vending machine and kiosks, jumped significantly in 2021, totaling 62% of sales in October 2021, up from 51% in January 2020, says a report from vending-machine specialist Cantaloupe Inc. As a result of the rise in cashless sales, the percentage of cash …
• 9 August

  Eye on Acquiring: Nuvei and Priority Post Revenue Bumps

  

  Merchant acquirers continue to reap the benefits of a bustling economy. Nuvei Corp., a Montreal-based acquirer, said its payments volume increased 38% in the second quarter, and Alpharetta, Ga.-based Priority Technology Holdings Inc. said its bank card processing volume increased 14.3% in the quarter. Nuvei said its payments volume topped …
• 9 August

  ParTech Acquires Menu Technologies And Other Digital Transactions News briefs from 8/9/22

  

  Restaurant-technology provider ParTech Inc. announced it has acquired Menu Technologies AG, an omnichannel ordering platform serving international restaurant brands. Terms were not disclosed.The Western Union Co. expanded its integration of Visa Direct, Visa’s real-time payment service, to its U.S. network, enabling consumers to send or receive funds directly to their eligible Visa debit …
• 8 August

  BNPL User Counts Are Poised To Explode, So Lenders Must Differentiate Their Offerings

  

  The upward trajectory of buy now, pay later loans shows no signs of leveling off. By 2027, the number of BNPL users globally is projected to more than double, surpassing 900 million, up from 360 million in 2020, according to Juniper Research. The growth will be driven in part by …
• 8 August

  A Boom in Contactless Cards Helps Drive a Record Quarter for CPI Card Group

  

  Increasing issuance of contactless cards, along with stronger demand from instant-issuance platforms, are generating tailwinds for at least one of the companies that produce payment cards. CPI Card Group Inc. early Monday cited these factors in reporting record sales for the June quarter, leading top executives at the Littleton, Colo.-based …