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- Payment card manufacturer CPI Card Group Inc. said net sales of debit and credit cards grew 22% year-over-year to $62.7 million in the third quarter. Net sales of prepaid debit cards dipped 1% to $20.6 million. For the nine months through September, credit and debit card sales rose 19% to $180.9 million, while prepaid card sales totaled $48.7, an 8% slide.
- Cardlytics Inc. reported monthly active users in the third quarter rose 26% year-over-year to 161.6 million. Nonetheless, revenue totaled $46.1 million, down 18% year-over-year, with a 30% drop in gross profit to $14.6 million. The company runs card-based rewards programs for financial institutions and uses data gleaned from these programs to aid marketers.
- Nuvei Corp. completed its acquisition of Smart2Pay Global Services B.V., a Web payments company that supports more than 200 payment methods with one application programming interface integration. Terms were not disclosed.
- Payments provider Repay Holdings Corp. has closed on its $78 million acquisition of CPS Payment Services. An additional $15 million may become payable through Dec. 31, 2022, as a result of earnouts.
- Market Scan Information Systems Inc. said it will provide its mScanAPI payment-calculation software for General Motors Corp.’s Shop.Click.Drive online platform, which allows users to shop for a new car, apply for credit, and have the car delivered to their home.
- Payments provider Electronic Payments Inc. said it processed more than $3.5 billion in the third quarter, up 12% year-over-year.
- Discover Financial Services said it has formed a data and analytics department and named executive vice president Keith Toney chief data and analytics officer to run the unit.
- Buy now, pay later installment lender PayBright said it will offer financing to consumers opting to buy home-monitoring devices online from Lorex, a marketer of home and business security devices.
- BMO Bank of Montreal said it has worked with Visa Canada to launch two rewards cards, the BMO eclipse Visa Infinite and the BMO eclipse Visa Infinite Privilege. With the launch of these cards, Visa says it now works with every major issuer in Canada.
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