Prepaid Cards

Processor Elavon, a unit of U.S. Bank, said it will provide a payments platform to BMO. In addition to payment services for credit, debit, and digital payment transactions, Elavon’s services to the bank include customized merchant processing services, omnichannel acceptance, fraud management, and dynamic and multi-currency conversion. Processor Stripe Inc. added support for Apple …

Mastercard Inc. launched its Open Banking for Account Opening program, aimed at U.S. issuers of consumer and small-business debit cards and issuers of consumer prepaid cards. The program aims to verify account ownership, reduce account abandonment, and cut non-sufficient funds returns. Brivo, a provider of technology for building access, has added …

Payments-technology provider Par Technology Corp. posted fourth-quarter 2023 revenue of $107.7 million, a 10.2% increase from $97.2 million in the corresponding 2022 quarter. It had a quarterly loss of $18.6 million, up from a loss of $13.5 million the year prior. For all of 2023, Par had $415.8 million in revenue, a …

Shift4 Payments Inc. launched SkyTab Website Builder, a tool enabling restaurants to more easily design a Web site. Businesses using Shift4’s SkyTab point-of-sale payments technology can access the new service for free. Blackhawk Network announced Select Codes, which businesses can send to customers to enable access to prepaid gift cards. Bank of …

FIS Inc. said it is working with Banked, an open-banking provider, to develop new pay by bank services for businesses and consumers. Gateway provider Trice Technologies Inc. said it is a technology provider and real-time payments gateway for the RTP network from The Clearing House Payments Co. LLC. Web services and payments provider GoDaddy …

Payment technology provider Electronic Merchant Systems acquired PaymentCloud, an Encino, Calif.-based payment gateway provider. The acquisition will enable PaymentCloud to expand its merchant base while utilizing EMS’s technology services. The deal also solidifies the existing relationship between the two companies and positions Cleveland-based EMS to leverage PaymentCloud’s marketing and sales …

Payments-technology provider i2c Inc. announced it will support payments services for fintech clients signed by The Bank of Missouri, a community bank. Ackroo Inc., a Canada-based payments and gift card platform, reported unaudited revenue of $6.8 million for 2023, up 9% from 2022. Global transactions involving biometric authentication—palm, face, or iris recognition—will total …

Prepaid card spending is on the rise, according to Fiserv Inc.’s annual Prepaid Consumer Insights Study. Some 69% of consumers surveyed say they purchased the same number of gift cards, or more, in 2023 compared to 2022. In addition, 40% of  buyers are putting at least $50 on gift cards, …

In today’s fast-paced business landscape, efficiency and quality are essential for staying ahead of the competition. Straight-through processing (STP) is a solution that enables businesses to expedite financial transaction processing while reducing errors and eliminating repetitive tasks. In both accounts payable and accounts receivable, STP can transform the way payments …

BitPay Inc. said Tuesday it will start adding dozens of cryptocurrencies to its platform this week in a move that includes a revamp of the company’s payments service. The Atlanta-based company, which has been processing crypto-based payments for more than 10 years, said it will start supporting more than 100 …