News

February, 2022

• 9 February

  Stripe Targets Easier On-Boarding and other Digital Transactions News briefs from 2/9/22

  

  Stripe Inc. said it will use technology from Celonis SE to improve its user onboarding process for e-commerce merchants.Payments provider Adyen NV said it will open technology hubs in Chicago and Madrid as it builds out a global processing platform. The company maintains more than 25 offices around the world.In related news, Adyen reported it processed …
• 8 February

  Data Breaches Remain a Nettlesome Problem, Especially for U.S. Companies

  

  While the number of publicly disclosed data breaches totaled 4,145 globally in 2021, a 5% decline from 2020, the bulk of those breaches occurred in the United States. Disclosed data breaches in the U.S. totaled 2,953, or 71% of the global total, according to Risked Based Security Inc. The number …
• 8 February

  Apple’s Tap to Pay on iPhone Debuts and other Digital Transactions News briefs from 2/8/22

  

  Apple Inc. launched Tap to Pay on iPhone, a service that enables U.S. merchants to accept Apple Pay and other contactless payment services with an iPhone and an iOS app. Long speculated, especially since Apple’s 2020 acquisition of Mobeewave Inc., which developed the ability to accept payments via an NFC link, Tap to Pay …
• 8 February

  An Acquisitive Fiserv Adds Finxact for Cloud-Based Digital Banking Services

  

  Fiserv Inc. has been an acquisitive company since its merger in 2019 with First Data Corp., and on Tuesday its top management said its latest acquisition will accelerate the company’s penetration of the growing market for digital-banking services provided not locally but through a cloud configuration. The $650-million deal for …
• 7 February

  Independent ATM Deployers Expect to Benefit As Banks Pull Back on Off-Premise ATMs

  

  As banks pull ATMs from underperforming off-premise locations, it is creating an opportunity for independent ATM deployers to fill the void, says a report for RBR, a London-based research and consulting firm. The trend, which is being driven in part by banks’ growing emphasis on providing cashless paymentsolutions to their …
• 7 February

  BofA Posts a Big January in Payments Thanks to Surging Migration Away From Paper

  

  If the nation’s second-largest bank is any indication, total consumer payments are booming despite the pandemic, while digital alternatives are gaining ground fast, in part because of the pandemic. Bank of America Corp. reported early Monday spending by consumer customers in January rose 17% compared to January last year, resulting …
• 7 February

  Fiserv Acquires Finxact and other Digital Transactions News briefs from 2/7/22

  

  Processor Fiserv Inc. said it has agreed to acquire digital-banking developer Finxact Inc. Fiserv, an early investor in Finxact, will acquire total ownership interest for $650 million.Israel-based payments provider Nayax Ltd. said it has submitted a draft registration statement with the U.S. Securities and Exchange Commission for a potential U.S. initial public offering of …
• 4 February

  Vending Payments Specialist Cantaloupe Reports Steady Progress As It Eyes Broader Markets

  

  Cantaloupe Inc. has come a long way since its turbulent times in 2020. The specialist in technology and processing for vending machines and other unattended locations on Thursday announced its dollar volume processed in the December quarter totaled $553.3 million, up 31% year-over-year, while active customers grew 16% to 21,315. …
• 4 February

  Better Communication And Fee Transparency Boost Big Banks on Merchant Satisfaction

  

  After years of trailing fintechs such as Square Inc. when it comes to merchant satisfaction with payment processing, big banks find themselves atop the leader board, according to J.D. Power’s 2022 U.S. Merchant Services Satisfaction Study.  Bank of America Merchant Services leads the way, posting a satisfaction score of 894 …
• 4 February

  Bill.com’s Volume Jumps 62% and other Digital Transactions news briefs from 2/4/22

  

  Payments technology provider Bill.com processed $56.4 billion in volume in the Dec. 31 quarter, up 62% year-over-year, with 9.8 million transactions on its platform, a 35% increase. It also processed 5.3 million Divvy card transactions worth $1.9 billion.Abaca, a fintech specializing in cannabis payments, said it has processed $2 billion in transactions …