Digital Transactions Authoritative, insightful and timely information for payments professionals
Picklejar Entertainment Group, whose software manages payments and other functions for events, launched contest-management capability incorporating the company’s identity-verification technology. Finmont, a travel-related payments-orchestration platform, has agreed to add processing from payments platform ConnexPay. William P. Foley II has been appointed chief executive of Cannae Holdings Inc., whose investments include a 6% …
February, 2024
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9 February
COMMENTARY: Charting a Course Toward Transparent and Secure Digital Payments
Decentralized finance (DeFi) is revolutionizing the way consumers and businesses handle their financial affairs, offering an innovative alternative to traditional, centralized financial systems. This transformation is creating a dynamic financial landscape where both traditional finance methods and DeFi coexist, encouraging real-time, transparent, and secure digital payment solutions. This evolution presents …
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9 February
How J.P. Morgan’s Ambitious Commerce Platform Enables Cross-Channel Payment Acceptance
J.P. Morgan Payments sees the future of electronic commerce as one pipeline accessed by consumers across channels. Its role in that scenario is outlined by the debut earlier this year of what it calls a full-stack omnichannel service, one that offers in-store, online, and mobile checkout capabilities. “We realized merchants …
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9 February
Cantaloupe Revenue up 7% and other Digital Transactions News briefs from 2/9/24
Cantaloupe Inc., a payments processor for vending machines and unattended markets, reported 1.23 million active devices online at the end of its December quarter, up 7% year-over-year. Active clients totaled 30,027, a 14% rise. Revenue for the quarter came to $65.4 million, up 7%, while transaction volume grew 12% to …
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8 February
PayPal’s New CEO Begins Acting on His Promise to Shake up the Payments Giant
When Alex Chriss came from Intuit last fall to take over as chief executive of PayPal Holdings Inc., he made it plain there would be big changes in strategy coming soon. On Wednesday, he began delivering on that promise, asserting the payments company is going to promote so-called branded checkout …
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8 February
ABA Formalizes BIN Administration Handoff to Long-Term Partner CUSIP
CUSIP Global Services announced late Wednesday that it will be taking over day-to-day operations of the administration of the issuer identification number system from the American Bankers Association. The change is not monumental as CUSIP has a long history of managing numbering programs for the financial services industry. The ABA …
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8 February
Lightspeed Loss Narrows And Other Digital Transactions News briefs from 2/8/24
Payments provider Lightspeed Commerce Inc. reported December-quarter revenue of $239.7 million, up 27% year-over-year. The company narrowed its net loss to $40.2 million from $814.8 million a year ago. Payments platform FleetCor Technologies Inc. reported December-quarter revenue of $937.3 million, up 6% year-over-year. Net income rose 6% to $255.9 million. For full-year 2023, revenue …
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7 February
Payroc Beefs Up Its Presence in Canada With Its Deal for SterlingCard
Payments-platform provider Payroc LLC has expanded its footprint in Canada through its acquisition of SterlingCard Payment Solutions Inc., a provider of retail and e-commerce payment solutions, for an undisclosed sum. Tinley Park, Ill.-based Payroc announced mid-day Tuesday it had closed on the deal. The acquisition enables Payroc to offer a …
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7 February
PSCU/Co-op Debuts a BNPL Service for Credit Unions
Credit union service organization PSCU/Co-op Solutions released its buy now, pay later service to credit unions, enabling their cardholders to make installment payments on their card-based purchases. PSCU/Co-op, which merged Jan. 1, says cardholders whose credit unions enroll in the service can choose qualifying transactions to pay back in installments. …
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7 February
Entrust Eyeing Onfido And Other Digital Transactions News briefs from 2/7/24
Minneapolis-based Entrust, a provider of identity technology and data security for payments, said it has entered into exclusive talks to acquire London-based Onfido, a platform for identity-verification based on artificial intelligence technology. Pay-at-table technology specialist Toast Inc. said Choice Hotels International has selected its Toast for Hotel Restaurants portfolio for two Choice chains, Cambria …
