Person-to-Person Payments

Repay Holdings LLC said its 2018 payment volume increased 42% to $7.5 billion from $5.2 billion in 2017. Its net income increased 12% to $10.5 million from $9.4 million. Repay is in the midst of a pending merger with Thunder Bridge Acquisition Ltd. Net Element Inc. unit Unified Payments will …

Mastercard Inc. has abandoned its pursuit of cross-border specialist Earthport PLC and instead has agreed to acquire New York City-based Transfast Remittance LLC, a cross-border account-to-account money-transfer network. Terms of the deal, which is expected to close in 2019’s second half, were not disclosed. Visa Inc. last month made an …

The Electronic Transactions Association joined seven other financial trade groups in opposing a Republican-backed bill in the House of Representatives that would levy a 5% tax on cross-border money transfers to fund President Trump’s proposed border wall. Introduced in January by U.S. Rep. Andy Biggs, R-Ariz., H.R. 85 would require …

Payments company i3 Verticals Inc. announced the acquisition of two unnamed companies at a combined price of approximately $20 million. One is in the public sector and the other is in wireless Internet-service billing. Countering the impression that most users of digital-payments services skew younger, half of first-time person-to-person payment …

Business-services firm Accenture invested in and formed an alliance with P97 Networks Inc., a cloud-based mobile-commerce firm specializing in automotive. As part of the agreement, Accenture will develop products from P97 for its clients. P97’s PetroZone service is installed at more than 20,000 U.S. filling stations. Terms of the investment …

NetCents Technology Inc. said it signed a 5-year reseller agreement with an undisclosed independent sales organization. The ISO will bundle NetCents’ gateway and cryptocurrency acceptance into its offerings. The Electronic Transactions Association and Worldpay are bringing 10 startup companies to the ETA’s annual Transact conference. The 10 companies, part of …

Square Inc. is rapidly growing into a heavyweight player in the hard-fought market for peer-to-peer payments. The San Francisco-based company had 15 million active users in December for its P2P product, Cash App, a number that doubled from December 2017, the San Francisco-based company disclosed on Wednesday. That’s still well …

Apple Inc. and the Goldman Sachs Group Inc. will begin issuing a joint credit card this spring, The Wall Street Journal reported. The new card will tie into the Apple Wallet. Apple’s brand already is on a credit card issued by Barclaycard. It is unknown what will happen to that …

Same-day automated clearing house transactions more than doubled in 2018 and the value of those payments increased 83% in the first full year of same-day ACH debit service, NACHA reported Tuesday. The same-day volumes helped the sprawling ACH network continue its growth streak, with total payments up nearly 7% and …

Speed is a key selling point for person-to-person payments, but many P2P users aren’t taking advantage of real-time payment capabilities offered by their providers, according to research firm Aite Group LLC. Answers from 693 consumers who had used a digital P2P account to receive money in the 12 months ending …