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- Card manufacturer CPI Card Group Inc. reported $105.9 million in third-quarter revenue, a 15% decrease from $124.6 million in the 2022 third quarter. It had a profit of $3.9 million, a 67.2% decrease from $11.9 million a year ago. Cautious consumer spending and a focus on managing inventory levels likely had an impact on these results, CPI said. CPI also announced Ravi Mallela, chief financial officer of NMI Holdings Inc., a mortgage insurance company, joined its board of directors.
- Payments platform FleetCor Technologies announced that on Sept. 15 it acquired PayByPhone from Volkswagen Financial Services. PayByPhone offers a mobile app for parking payments. It claims more than 6 million monthly active users and 1,350 parking operators in North America and Europe. Terms were not announced.
- In related news, the parking-payments app Passport is working with Automotus, a technology provider for airports and other venues to manage curb space, to offer their combined technologies to cities.
- InComm Payments said it will process gift card orders for Meal Train, an online app that enables users to organize meals for persons struggling with major life events.
- OrganicPaymentGateways.com launched payment gateway services for nutritional supplement Web sites that use the WooCommerce e-commerce platform.
- Payments-technology provider Volante Technologies said it raised $66 million in debt and equity financing in a funding round led by Sixth Street Growth.
- 733Park Inc., a merchant portfolio adviser for buyers and sellers, said it assisted payments provider Improving Payments in acquiring a Merchantology agent portfolio. Terms were not disclosed.
- Acquirer Square said quick-service restaurant JARS will use its point-of-sale technology. JARS currently has three locations and plans to add more than 100 locations.
- Eighty-eight percent of Gen Z and Millennial consumers would be willing to pay a bill within a text message found “The State of Bill Pay-Digital Payment Trends and Growing Demand for Text Messaging” from Datos Insights that was sponsored by Solutions by Text.
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