News

April, 2021

• 6 April

  A Mastercard Report Estimates As Much As 30% of the Shift to Digital Payments Is Permanent

  

  That the shift toward digital forms of payment was accelerated by the pandemic has been duly noted over the past year, but how much of that change will stick once the U.S. market and the rest of the world gets beyond Covid? Not all of it by any means, but …
• 6 April

  Brinks Acquires PAI and other Digital Transactions News briefs from 4/6/21

  

  The Brink’s Co. announced it has acquired ATM owner and services provider PAI Inc. for $213 million. PAI’s network links 100,000 machines.Banking-technology provider Jack Henry & Associates Inc. announced more than 115 financial institutions are now live on its real-time payments hub, JHA PayCenter. The hub connects to The Clearing House Payments Co.’s Real Time …
• 6 April

  Dwolla Debuts an API That Can Connect Fintechs to The Clearing House’s RTP Platform

  

  As part of its strategy to enable faster electronic payments, Dwolla Inc. on Tuesday released an application programming interface to enable real-time payments through The Clearing House Payments Co.’s RTP network. Fort Lee, New Jersey-based Cross River Bank Inc. will provide the processing link to the RTP network. Development of …
• 5 April

  A Year After Adding Payment by Text Capability, Podium Launches Card Readers

  

  Podium Corp Inc., a communications and payments provider, is adding card readers to enable face-to-face payments as well as remote payments. Announced Monday, the reader accepts EMV, magnetic stripe, and contactless payments. Podium did not say when the readers will be available or disclose their cost. Podium’s primary payment method …
• 5 April

  Looking to Serve Bigger Payments, Nacha Sets a $1 Million Same-Day Limit for March 2022

  Nacha on Monday announced it will raise its dollar limit on same-day transactions 10-fold to $1 million starting next March. The move, which will come only two years after the governing body for the automated clearing house network raised the cap to $100,000 from the original $25,000 limit, comes as …
• 5 April

  Intuit Teams With Practice Ignition and other Digital Transactions News briefs from 4/5/21

  

  Intuit Inc. said its Intuit ProConnect unit has partnered with Practice Ignition, a service provider to accounting firms, to provide payments and other services to tax-preparation professionals. Intuit in February sued Visa Inc. and Mastercard Inc., alleging the networks’ interchange pricing models constitute unlawful price fixing.Payments provider i3 Verticals Inc. said it has acquired two …
• 2 April

  An Acquisition of AxiaMed Helps BofA’s Effort to Rebuild Its Acquiring Business

  

  With its acquisition of Axia Technologies Inc., also known as AxiaMed, Bank of America Corp. took a big step toward rebuilding its merchant-acquiring business. AxiaMed provides financial services and payments technology to health-care providers. Terms of the deal were not disclosed. The acquisition, announced Friday, gives Bank of America a …
• 2 April

  Eye on BNPL: Afterpay Promo Drives 35% Customer Increase And Paidy Raises $120 Million

  

  Buy now, pay later provider Afterpay Ltd. reported its bi-annual Afterpay Day sale, the first to include brick-and-mortar merchants, generated a 35% increase in new active users and sent 6 million referrals to merchants around the world from the company’s Shop Directory.  Eighty-six percent of the transactions made that day, …
• 2 April

  dLocal Raises $150 Million Investment and other Digital Transactions News briefs from 4/2/21

  

  Payments-technology provider dLocal Ltd. announced a $150-million investment led by Alkeon Capital and valuing the company at $5 billion. The company also appointed former Chase executive Sumita Pandit chief operating officer. Former COO Jacobo Singer was promoted to president.PayGround Inc., a payments provider specializing in health care, has reached an agreement with …
• 1 April

  OLB Group Adds QR Code Acceptance to Its Gateway

  

  OLB Group is the latest processor to support Quick Response codes as merchants look for ways to adopt contactless-payment options in the wake of the ongoing Covid-19 pandemic. OLB will support dynamic QR codes, which are generated in real time for each transaction, on its cloud-based OmniSoft business-management platform and …