News

December, 2020

• 9 December

  Sightline Notes Investment and other Digital Transactions News briefs from 12/9/20

  

  Sightline Payments, which provides payments for gaming companies, said it received an investment from private investment firm Searchlight Capital Partners. The amount was not disclosed. Also, Sightline cofounder and chief executive Kirk Sanford was replaced by Joe Pappano, Sightline president of Americas, who was appointed chief executive and a director …
• 8 December

  In a First, InComm Payments Enables Visa Gift Cards To Be Downloaded to Mobile Wallets

  

  InComm Payments announced Tuesday that its Visa-branded Vanilla Gift Cards can now be downloaded to Apple Pay, Google Pay, and Samsung Pay mobile wallets, enabling the card to be used for contactless payments. It is the first open-loop Visa gift card to be supported on mobile wallets, InComm says. In …
• 8 December

  Capital One Halts BNPL Credit Card Transactions

  

  Capital One Financial Corp. is barring all of its credit cards from being used for point-of-sale lending transactions, aside from the United Kingdom where buy now, pay later products are being reviewed for possible regulation. The move comes as overall buy now, pay later providers garner a lot of attention, …
• 8 December

  SMB Optimism Less Than 2019 and other Digital Transactions News briefs from 12/8/20

  

  Wells Fargo Co. said overall levels of optimism among small businesses remain at just more than half where they were late last year, even though its Wells Fargo/Gallup Small Business Index rose 12 points for the second straight quarter in the latest period.As local governments imposed measures to control fresh outbreaks …
• 7 December

  How P97 Networks Plans to Fuel its Global Expansion Using Cybersource Gateway Connections

  

  Less than a week after announcing its partnership with Cybersource, Houston-based P97 Networks Inc.’s plans to expand its PetroZone platform globally are coming into sharper focus.  P97 intends to leverage Cybersource’s gateway connections to more than 140 acquiring banks globally to expand its reach to petroleum retailers. The company will …
• 7 December

  Paysafe Is the Latest Payments Firm to Go Public as the SPAC Trend Picks up Steam

  

  A relatively novel method for private companies to go public gained momentum in the payments industry Monday with the announcement that London-based processor Paysafe Group Holdings Ltd. will be acquired by a group put together by Las Vegas-based Foley Trasimene Acquisition Corp. in a deal valued at approximately $9 billion.  …
• 7 December

  Credit Card Use Dips 2% and other Digital Transactions News briefs from 12/7/20

  

  Overall U.S. credit card use dipped 2% for the week ending Nov. 29 compared with the week ending Dec. 1, 2019, according to the Tracking Transaction Trends report from PSCU, a credit union service organization. Meanwhile, debit card use increased 4.9% for the same period. Regionally, the largest credit card drop was …
• 4 December

  Eye on BNPL: Affirm Acquires Rival PayBright And Alliance Data Finalizes Bread Acquisition

  

  It’s a hot time for buy now, pay later companies, especially when buyers come around. Affirm Inc. is buying Canadian rival PayBright Inc. and Alliance Data Systems Corp. completed its acquisition of Bread, the brand ran by Lon Operations LLC. Buy now, pay later specialist Affirm Inc. said it will acquire …
• 4 December

  COMMENTARY: What To Think About When You Implement Contactless Payments

  

  At UL, we have seen both customers and merchants are experiencing an increased need for contactless payment options in brick-and-mortar stores. The current pandemic is a large factor in this, of course, but so also is the convenience and speed that contactless payments bring when compared to the traditional contact …
• 4 December

  Stripe Launches Stripe Treasury and other Digital Transactions News briefs from 12/4/20

  

  Processor Stripe Inc. launched Stripe Treasury, a banking-as-a-service platform for its merchants, which can open Stripe Balance business accounts. Stripe is working with Evolve Bank & Trust on the service. Merchants can open interest-bearing accounts eligible for FDIC insurance in minutes. Commerce platform Shopify Inc. is one of the first to offer …