News

March, 2024

• 8 March

  U.S. Households Spend $25,513 Annually on the Top 10 Bills

  

  Consumer bill payments for the 10 most essential bills sum to $25,513 annually on average, according to new data from doxo inc., a bill-payments provider. Doxo’s “2024 U.S. Household Bill Pay Report” says that total corresponds to 34% of a consumer’s income spent across mortgage or rent, auto loans, utilities, …
• 8 March

  Blockbuster Deals Aside, a Slower M&A Trend Continues to Grip the Payments Industry 

  

  The news nearly three weeks ago that Capital One Financial Corp. is looking to acquire Discover Financial Services stunned the payments industry. But even if the $35.3-billion deal closes in the coming months it will represent a notable exception in the middle of a continuing slowdown in merger-and-acquisition activity in …
• 8 March

  Zil Money Surpasses $70 Billion in Volume and Other Digital Transactions News briefs from 3/8/24

  

  Zil Money Corp. reported its automated check-payment app, OnlineCheckWriter.com, has passed $70 billion in volume since its inception in 2018. The service relies on various payment methods, including the automated clearing house, real-time payments, and QR codes. The payments platform Nayax Ltd. announced an offering of 3.13 million of its ordinary shares at …
• 7 March

  Paysafe’s Top Brass Notes Some Improvement But Adds Much Is ‘Yet to Be Done’

  

  Bruce Lowthers has been a man on a mission since taking over as chief executive at a struggling Paysafe Ltd. nearly two years ago, and early on Thursday he laid out an agenda for the work his company has yet to do. While he touted some improvement so far, “there …
• 7 March

  Cautious Consumer Spending Depresses CPI Card Group’s Sales

  

  CPI Card Group Inc. posted $444.5 million in net sales in 2023, a 7% decrease from 2022. The card and payments solutions provider saw an even larger drop during the fourth quarter, posting net sales of $102.9 million, a 19% year-over-year decrease. CPI attributed the declines to cautious consumer spending, …
• 7 March

  PayPal Adds Tap to Pay on iPhone And Other Digital Transactions News briefs from 3/7/24

  

  PayPal Holdings Inc. said Tap to Pay on iPhone is available for all Venmo business profile and PayPal Zettle users in the United States. Tap to Pay on iPhone enables merchants to accept contactless payments using an iPhone with no extra hardware, only a payments app. The service had been in …
• 6 March

  Follet Partners with GK Software; Transact Rolls Out a B2B Portal

  

  Follet Higher Education, an educational service provider and omnichannel retailer, has selected GK Software SE as its cloud-based point-of-sale provider for its more than 1,000 college campus and online stores in the United States and Canada. Follet will deploy such apps as GK Software’s OmniPOS, which supports mobile POS, self-check-out, …
• 6 March

  An Active Year Helps Boost Results for Canada’s Nuvei

  

  The big Montreal-based processor Nuvei Corp. has had a busy year since its headline acquisition early in 2023 of Atlanta-based Paya Holdings Inc., and late on Tuesday it disclosed how that activity has helped buoy its financial results. Nuvei, which was known until 2018 as Pivotal Payments, reported it processed …
• 6 March

  PayRange Battles Alleged Patent Misuse And Other Digital Transactions News briefs from 3/6/24

  

  Unattended payments specialist PayRange Inc. said it filed a patent infringement lawsuit against CSC ServiceWorks, an operator of laundry machines in multi-family housing and college dorms. This is in addition to a previous patent infringement suit it filed in March 2023 against CSC ServiceWorks. In the new suit, PayRange seeks more than …
• 5 March

  Eye on Restaurants: SpotOn Adds a Marketing App; IHG Hotels & Resorts Partners With eTip

  

  Payment technology provider SpotOn Transact LLC looks to expand its footprint in the highly competitive business of restaurant payments with the introduction of SpotOn Marketing Assist, an app that automates email and social-media marketing campaigns for restaurants. The app—which integrates with Spot On’s SpotOn Restaurant POS, SpotOn Order, and SpotOn …