CFPB Drops CapOne Lawsuit and other Digital Transactions News briefs from 2/28/25

The Consumer Financial Protection Bureau has canceled five enforcement moves, including an action against Capital One, Reuters and other news sources reported early Friday. The news came as the nominee to head the bureau, Jonathan McKernan, was testifying Thursday before the Senate in a confirmation hearing. Treasury Secretary Scott Bessent has been filling the role temporarily as Acting Director.
Processor Nayax Ltd. announced it has acquired UPPay, a processor for payments at automated coffee machines in Brazil, for approximately $5.3 million in cash, a sum that includes an earnout provision of $2.75 million. The move follows Nayax’s agreement in January to support payments at vending machines and other self-service venues through a tie-in with products from Italy-based Seco S.p.A.
PAR Technology Inc., a provider of payments and ordering technology for restaurants, reported its net revenue in 2024 grew 26% to $350 million, while the company narrowed its net loss to $5 million from $69.8 million in 2023.
Nacha, the governing body for the automated clearing house, has added processor ACI Worldwide to its Preferred Partner program.
John Priore, who helped found Priority Technology Holdings Inc. in 2005, will retire from the company’s board of directors on April 1. He will be succeeded on the board by Clayton Main, most recently a partner at Bregal Sagemount and formerly an executive at Goldman, Sachs & Co.

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