News

November, 2020

• 9 November

  Eye on Digital Payments: How Covid Is Impacting Business Payments; Contactless Guidance Emerges

  

  The Covid-19 pandemic, which is surging again in many parts of North America, has proven to be a tipping point for digital business payments, says a white paper released Monday from WEX Inc., a provider of payment technology for fleet operators and travel and health-care businesses. Of the 308 senior …
• 9 November

  Its SPAC Merger Behind It, Paya Reports Growth ‘Momentum’ From ACH

  

  Paya Holdings Inc. is known for its base in integrated payments and for its processing concentration in card-not-present transactions. But what also became clear early Monday is its growing strength in bringing capability for automated clearing house payments to its roster of clients. “We have good momentum there,” said chief …
• 9 November

  PDI in Touch-Free Payment Service with NCR and other Digital Transactions News briefs from 11/9/20

  

  Professional Datasolutions Inc., which acquired private-label debit provider ZipLine in June, said it is working with NCR Corp. on a touch-free mobile payment service for the convenience-store industry.Payment card use among travel companies remained substantially down year-over-year, according to the Tracking Transaction Trends report from PSCU, a credit union service organization, for the …
• 6 November

  Visa Hits Back After the Justice Department Challenges the Network’s $5.3-Billion Plaid Deal

  

  Visa Inc. on Thursday delivered a rebuke to the Department of Justice’s antitrust lawsuit attempting to block its $5.3 billion acquisition of Plaid Inc., calling the lawsuit “legally flawed and contradicted by the facts.”  The Department of Justice, which had filed the suit hours earlier, charges that Visa’s deal for …
• 6 November

  USA Technologies Adds 15,000 New Connections and other Digital Transactions News briefs from 11/6/20

  

  USA Technologies Inc., which provides technology to the vending industry for payments acceptance, reported 15,000 net new connections in its fiscal 2021 first quarter, bringing the total to 1,335,000. Revenue rose 13% from the previous quarter to $36.9 million, but was down 15% from the year-ago quarter. The company shaved …
• 5 November

  Cash App Delivers for Square in a Tough Year for Merchant Processing

  

  In a year in which a fearsomely spreading virus has shut down many businesses and wrecked some, merchant-services provider Square Inc. has had to lean more heavily than ever on the other part of its business—the 7-year-old peer-to-peer payment service Cash App. And in the quarter ended Sept. 30, Cash …
• 5 November

  Lightspeed Arms Itself for Heavy-Duty Competition With Its Acquisition of ShopKeep

  

  Lightspeed POS Inc. on Thursday acquired ShopKeep Inc., a payments and commerce provider, for $440 million in cash and stock. Under the terms of the deal, Lightspeed will pay $145.2 million in cash and issue 9.5 million subordinate voting shares. The deal is expected to close by Dec. 31. RBC …
• 5 November

  Its Deal for 3dcart Catapults an Ambitious Shift4 Into E-Commerce Processing

  

  Shift4 Payments Inc. on Thursday jumped into e-commerce payments processing with both feet with its acquisition of 3dcart, a 23-year-old web-store platform with some 14,000 clients globally. Terms were not announced. The deal diversifies Allentown, Pa.-based Shift4’s product mix but also buttresses its long-term strategy aimed at moving merchants from …
• 5 November

  EVO Reverses 3Q Loss and other Digital Transactions News briefs from 11/5/20

  

  EVO Payments Inc. reported third-quarter revenue of $117 million, a 4.4% decrease from $122.4 million in the same period a year ago. Its profit, however, of $5.8 million reversed a $1.8 million loss last year. In the quarter, EVO launched EVO Direct Deposit, a real-time settlement service for merchants.The Covid-19 pandemic made …
• 4 November

  Organized Crime’s Latest Scheme: Return And Refund Fraud

  

  Criminals are prepping to reap ill-gotten gains this holiday season, and one way they’re doing that is by bringing their organizational skills to return and refund schemes. That’s the word from Signifyd Inc., a fraud-prevention services provider. Return and refund fraud is one of three trends gaining prominence now, says …