Transaction Processing

Fast-growing payment technology and software provider SpotOn Transact Inc. said Wednesday that it raised $50 million in a Series B funding round that included 01 Advisors, an investment firm led by three former Twitter Inc. executives.  SpotOn, which says its revenues increased by more than 150% in 2019, will use …

Novo Dia Group, a developer of point-of-sale software for electronic benefits transfer and other payments, said it has integrated with Square Inc.’s platform and enhanced its main product, Mobile Market, which it has renamed TotalPay.College payment-processing specialist PayMyTuition said it has developed a service that allows colleges and universities to settle cross-border …

Machine learning is a popular fraud-fighting technology, but models have a tendency to become less effective over time as criminals adjust their tactics. On Tuesday, ACI Worldwide Inc. said it’s taking a crack at that problem with a service that the company says can adjust automatically to changing fraud patterns. …

As merchants expect more consolidated services from their point-of-sale systems, payments providers are listening and acting. Merchant processor Shift4 Payments LLC said Tuesday that its suite of restaurant POS systems now has an integration with TakeOut7 Inc., an online-ordering service. This enables orders placed via TakeOut7 to sync with Shift4’s …

The Western Union Co. launched WU Incoming Payments for Legal, a service aimed at allowing U.S. law firms to accept foreign payments without bank-processing fees.Payments provider Usio Inc. said InsureSmith, which provides insurance brokerage software products, integrated Usio’s PayFac-in-a-Box service to enable users to pay premiums directly through the InsureSmith platform.E-commerce services provider Signifyd announced …

Online criminals are not that much unlike honest consumers in adopting mobile Web sites and apps as their favored channels with retailers and financial services. The evidence is that attack rates via mobile sites increased 56% in the latter half of 2019, according to the LexisNexis Risk Solutions Cybercrime Report …

Private-equity firm InterPrivate LLC announced the acquisition of SurchX, a payments provider offering surcharging programs. SurchX was renamed InterPayments. Terms were not disclosed.ParTech Inc., a subsidiary of PAR Technology Corp., announced an application programming interface integration with eTouchMenu, a digital-menu provider, and ParTech’s Brink POS software.Priority Payment Systems, a subsidiary of …

Jack Dorsey, the co-founder and chief executive of Twitter Inc. who also is the CEO of merchant processor Square Inc., told an investor conference he is reconsidering his plan to spend much of his time this year in Africa because of Covid-19, the coronavirus, “and everything else going on,” Bloomberg …

“Can I trust you?”  The ability to answer this seemingly simple question can help online merchants stop fraud and increase sales like never before. In fact, it’s a question that we at Kount answer billions of times per year for our customers.  In today’s digital world, fraud-prevention solutions use artificial …

Annual stockholder meetings usually are staid affairs involving such exciting matters as appointing a company’s auditing firm, but the upcoming meeting for vending machine payments provider USA Technologies Inc. could be a real barn burner. The months-long battle between Malvern, Pa.-based USAT’s management and board on the one side and …