News

August, 2021

• 11 August

  Merchants Redouble Their Efforts to Push the Fed on Debit’s Routing And Pricing Rules

  

  With a Federal Reserve deadline hitting Wednesday for comments on decade-old debit card regulations, large merchants are firing some last-minute salvos in hopes of influencing the Fed to make major revisions to rules governing transaction routing and pricing. “[M]ajor banks and networks continue to interfere with competition for debit business,” …
• 11 August

  Revel Bags Dave’s Hot Chicken and other Digital Transactions News briefs from 8/11/21

  

  Cloud-based point-of-sale maker Revel Systems said Dave’s Hot Chicken restaurant chain will use Revel Enterprise for its POS system. In the first quarter, the chain said its newly signed franchisees expanded the number of locations to more than 400.Payments provider Qualpay said it will process transactions for FuelMor, a software platform for propane suppliers.Buy …
• 10 August

  Paymentus Acquires Payveris To Build Out It Bill-Pay Platform

  

  Paymentus Holdings Inc., a provider of cloud-based bill-payment technology, announced Tuesday it has agreed to acquire Payveris LLC, a digital money-movement platform, in a deal valued at $152.2 million. Paymentus will pay 56% of the purchase price in cash and the remainder in Paymentus Class A common stock. The acquisition …
• 10 August

  With Rate Increases Looming, a Processor Aims to Wean Auto Shops off of Credit Cards

  

  With credit card acceptance rates expected to rise next spring, payments-technology firms are starting to launch services for merchants that they say will soften the blow. The latest comes in the automobile-repair industry with an announcement Tuesday by Facepay Inc. of general availability of a service aimed at replacing credit …
• 10 August

  Repay Card Volume up 28% and other Digital Transactions News briefs from 8/10/21

  

  Repay Holdings Corp. said its second-quarter card payment volume of $4.6 billion increased 28% from $3.6 billion in the 2020 second quarter. Revenue of $48.4 million was up 32.6% from $36.5 million a year ago. Repay had a net loss of $13.4 million, an improvement from its $83.2 million loss in …
• 9 August

  A New App Seeks to Make End-to-End Car Buying the Latest E-Commerce Craze

  

  One consequence of the pandemic has been a boom in e-commerce. And now consumers can purchase automobiles online just as easily as they can most any other product.  Otoz, a subsidiary of business-services and enterprise-software provider Netsol Technologies Inc., announced on Monday its e-commerce app for Mini auto dealers is …
• 9 August

  FTNI Supplies Digital Payment Tech to C-Store And Food Distributor

  

  Grocers and convenience stores that use distributor Hardec’s to buy products to sell now have an online and digital payment option. Omaha, Neb.-based Financial Transmission Network Inc. said it is supplying Hardec’s with an online payment portal that enables its customers to pay invoices via automated clearing house transactions and …
• 9 August

  Circle Preps for SPAC Move and other Digital Transactions News briefs from 8/9/21

  

  Circle Internet Financial Inc., a provider of payments based on digital currencies, filed a Form S-4 registration statement with the U.S. Securities and Exchange Commission in connection with its effort to go public via a $4.5-billion buyout by a special purpose acquisition corporation.Bill.com said KPMG Spark, an accounting service for small and medium-sized …
• 6 August

  Paya Looks to M&A, ISVs, And ACH for Growth As It Reports a Strong First Quarter

  

  Paya Holdings Inc. hasn’t let up on its search for growth via acquisitions as it plays to its strengths in integrated payments and automated clearing house processing.  The Reston, Va.-based company reported early Friday a record-high $10.7 billion in payment volume for the first quarter, a number that doesn’t include …
• 6 August

  COMMENTARY: How EMV Specifications Are Supporting Online Commerce

  

  The increasing digitalization of global economies, along with the unprecedented growth in online commerce, means that consumers and businesses are demanding more from payments. A recent report from the Federal Reserve Bank of Boston notes that “consumers not only have higher expectations when it comes to online security, but they …