News

February, 2020

• 17 February

  Restaurant POS Systems and Payments Provider Toast Raises $400 Million in Expansion Drive

  

  Toast Inc., a software, point-of-sale hardware, and payments provider for restaurants, has raised $400 million in another funding round. The Boston-based firm introduced its first POS device in the spring of 2018, and among its services it acts as a payment facilitator for restaurants. The company says revenue increased 109% in …
• 17 February

  Chargebacks911’s Tips on BOPUS Fraud and other Digital Transactions News briefs from 2/17/20

  

  Chargebacks911 released a set of tips for retailers about managing buy-online, pickup-in store fraud.VersaPay Corp., a provider of electronic invoice presentment and payment, said its shareholders overwhelmingly approved acquisition of all outstanding common shares by 1233518 B.C. Ltd., an affiliate of private-equity firm Great Hill Partners. Shareholders will receive $2.70 Canadian …
• 14 February

  How You Walk Could Some Day Soon Let You Pay to Ride

  

  Two big trends in payments, mass-transit ticketing and advanced authentication technology, could come together soon as Mastercard Inc. develops a system that could identify users simply by the way they walk. Working on the idea that each person has a unique gait, Mastercard and its NuData Security unit are talking …
• 14 February

  Checks’ Last Bastions Include Older Consumers, Businesses, and Bill Payments

  

  The decline of checks over recent decades is a well-known story, but there were still 14.5 billion check payments in 2018, according to Federal Reserve research. So just who’s still writing checks, and for what kinds of payments? “All things being equal, older, low-income, non-minority group members are more likely …
• 14 February

  Ingenico Names New North America Executive and other Digital Transactions News briefs from 2/14/20

  

  Ingenico Group S.A. named Peter Stewart executive vice president of Ingenico North America. Stewart has more than 25 years of experience in the technology industry. A specialist in point-of-sale equipment and processing, Ingenico Group has agreed to be acquired by processor Worldline S.A. in an $8.6 billion deal.CHR Corp., which does business under …
• 13 February

  WEX’s Benefits and Corporate-Services Units Growing Faster Than Fleet Services

  

  Best known for its big fleet-fueling card business, WEX Inc. lately is getting stronger growth from its two other segments, health-care and employee benefits and corporate and travel services. WEX reported Thursday that total fourth-quarter purchase volume grew 8.4% to $20.1 billion from $18.5 billion a year earlier. Portland, Maine-based …
• 13 February

  With Expanded Merchant Business Thanks to Worldpay, FIS Seeks to Exploit Its Acquiring Chops

  

  When Fidelity National Information Services Inc. closed on its $43 billion acquisition of Worldpay Inc. last summer, the payments industry knew the massive deal would boost FIS instantly into the top ranks of global merchant processors. On Thursday, the company let the world know just how big its position in …
• 13 February

  WooCommerce Adds CBD-Specific Features and other Digital Transactions News briefs from 2/13/20

  

  E-commerce platform WooCommerce said it is offering CBD-selling merchants new services for monitoring security issues, printing shipping labels, and automatic tax calculation.Acadia POS and merchant-services provider GCG Consulting Inc. said they handled nearly 50,000 transactions on 77 PAX Technology point-of-sale devices at the recent Waste Management Phoenix Open.Business-payments firm Biller Genie said its clients are …
• 12 February

  The New Global Payments Looks to Value to Offset Impending Visa Rate Changes

  

  News of impending interchange-rate revisions from Visa Inc. may have roiled the payments industry, but for processing giants like Global Payments Inc., the impact will simply be business as usual. Top Global executives made that point crystal clear Wednesday. “We see these [rate changes] all the time. We have to accommodate …
• 12 February

  PayPal Funds Firearms Payments Research and other Digital Transactions News briefs from 2/12/20

  

  PayPal Holdings Inc. said it and the Center on Crime and Community Resilience at Northeastern University, along with the University of Chicago Crime Lab, formed a research project to examine payment methods used to finance illegally-sourced firearms with the goal of combatting the illegal sale of guns.Processor Fiserv Inc. announced its “Scan to …