Digital Transactions Authoritative, insightful and timely information for payments professionals
Payments provider Paya Inc. today announced a merger with special acquisition merger company (SPAC) FinTech Acquisition Corp III. The merger is being consummated as part of Atlanta-based Paya’s plans to take the company public. Currently, the company is owned by private-equity firm GTCR LLC. Because Fintech Acquisition is already a …
August, 2020
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3 August
Global Payments To Use AWS for Issuer Services and other Digital Transactions News briefs from 8/3/20
Global Payments Inc. announced a multiyear agreement with Amazon.com Inc.’s Amazon Web Services to offer cloud-based issuer processing to financial institutions globally. AWS services in the deal will include storage, compute, database, security, analytics, and machine learning. For the second quarter, Global reported $1.52 billion in adjusted net revenue, down 14% year-over-year compared …
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1 August
Apple’s Mobeewave Deal Could Turn iPhones Into No-Dongle POS Devices—Just Not Right Away
Apple Inc. has reportedly acquired technology that enables smart phones equipped with near-field communication to act as point-of-sale devices with no other hardware. In the deal, news of which broke as the weekend began, the Cupertino, Calif.-based iPhone maker has bought Mobeewave Inc., a 9-year-old technology firm based in Montreal. …
July, 2020
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31 July
How Global Communities Simplified Compliance with WatchDOG® Elite
In a world of ever-changing regulations, organizations must be diligent in their compliance efforts to avoid lasting consequences—especially nonprofits operating on a global scale. Partnering with low-and moderate-low income communities around the world, Global Communities is a nonprofit organization that works to improve social, economic and environmental conditions for millions …
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31 July
Digital Services Help Buoy MoneyGram As the Remittance Provider Logs a Tough Quarter
The Covid-19 pandemic has driven consumers and businesses to digital alternatives for payments, and money transfers are proving to be no exception. MoneyGram International Inc. reported Friday morning transactions online and through its app grew 106% year-over-year and accounted for 27% of all transactions in the June quarter, up from …
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31 July
Amazon Sales up 40% and other Digital Transactions News briefs from 7/31/20
With consumers flocking to e-commerce during the Covid-19 pandemic, net product sales for Amazon.com Inc. totaled $50.2 billion the June quarter, up 40% year-over-year. Sales at its physical stores dropped 13% to $3.8 billion.China will surpass the United States as the world’s largest retail market this year, eMarketer Inc. predicted in its “Global …
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31 July
Shift4 Emerges From Its IPO With Less Debt and More Cash
Shift4 Payments Inc. is scheduled to have its first quarterly earnings call as a publicly held company on Thursday. Ahead of that call, company founder and chief executive Jared Isaacman is expressing satisfaction with the merchant acquirer’s June 4 initial public offering. The oversubscribed IPO was priced at $23 per share, …
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30 July
Debit And Services Help Mastercard Stay Afloat During the Pandemic
Like its bigger rival Visa Inc., Mastercard Inc. managed to remain profitable during the pandemic-ravaged second quarter and in recent weeks has been seeing improving transaction trends. Mastercard on Thursday reported total U.S. purchase volume of $405 billion in the quarter ended June 30, down 5% from $427 billion a …
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30 July
Galileo Inks Plaid Integration and other Digital Transactions News briefs from 7/30/20
Payments-technology provider Galileo Financial Technologies LLC announced an integration with data aggregator Plaid Inc. Through Plaid’s links to financial institutions, the tie-in will allow Galileo clients to more readily authorize users for automated clearing house transactions. Visa Inc. announced in January a deal to acquire Plaid for $5.3 billion. Social Finance Inc. (SoFi) agreed in April …
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29 July
PayPal Plots a POS Course With QR Codes As It Comes Off the ‘Strongest’ Quarter in Its History
PayPal Holdings Inc. has made big plays for the physical point of sale before, but on Wednesday the San Jose, Calif.-based company unveiled what could be its biggest strategy yet to capture transactions at the cash register. Top executives said an arrangement under way with CVS Pharmacy to run PayPal …
