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- The payment-services unit of Discover Financial Services reported $96 billion in volume for the first quarter, a 4% drop year-over-year, though increased debit card activity lifted Pulse’s dollar volume 3%. Diners Club volume also increased, growing 18%, but the Network Partners unit recorded a 73% slide “reflecting the anticipated exit of a partner.” The merger of Discover with Capital One Financial Services is expected to close May 18.
- Consumer Reports released a report on digital wallets that found of the six products it evaluated—Apple Wallet, Cash App, Google Wallet, PayPal, Samsung Wallet, and Venmo—they are generally safe and convenient ways to make transactions.
- Money transfer provider The Western Union Co. reported first quarter 2025 revenue of $983.6 million, down 6.2% from $1.05 billion in the year ago quarter. It posted a profit of $123.5 million in the first quarter, a 13.5% decrease from $142.7 million year-over-year.
- Volante Technologies LLC said the latest version of its automated clearing house product is available, offering financial institutions use of a cloud-native ACH payments platform.
- Payment Galaxy, part of the payments-technology platform Finzly, said it has completed a validation process indicating it can process volumes “comparable to those of the largest U.S. banks.” Payment Galaxy relies on Amazon Web Services.
- PayPal Holdings Inc. said U.S. users of its PYUSD stablecoin can now earn 3.7% annually in rewards on their PYUSD holdings in their PayPal or Venmo wallets beginning later this year.
- E-commerce technology platform Woo Commerce said it will expand its partnership with buy now, pay later specialist Affirm Holdings Inc. to the United Kingdom, allowing merchants in that country to more readily enable Affirm’s services.
- Fraud prevention specialist Feedzai announced it acquired Demyst, a data and workflow orchestration platform. Terms were not disclosed.
- Self-service and unattended payments provider Cantaloupe Inc. released its 2025 Micropayments Trends Report that found in 2024 77% of all vending cashless transactions were made with a card or mobile payment service.
- Versapay named Elizabeth Bramlage chief marketing officer. She comes to the company from a CMO position at ComplyAdvantage.
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