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- Discover Financial Services said its payments services operation, which includes network partners, Diners Club International, and the Pulse electronic-funds transfer network, processed $60.5 billion in total volume in the fourth quarter, a 12% increase year-over-year. Volume on Pulse jumped 11% to $47.1 billion owing to new issuers as well as growth by existing issuers, Discover said. Total network volume, including proprietary Discover network processing, reached $99 billion, a 9.6% jump. Total Discover card volume reached $40.7 billion, up 5.4%.
- WEX Inc. completed the acquisition of bill-pay and virtual card specialist Noventis Inc.
- Apple Pay is coming to the LA Metro, the transit system serving Los Angeles, reported MacRumors.com. A rollout is scheduled for this fall.
- London-based developer myPOS launched a new version of its Mobile Checkout product, which offers easier integration with merchant apps.
- The Bancorp Inc., a major issuer of prepaid cards, said its prepaid division incurred expenses of $672,000 in the quarter in connection with “the exit of one relationship.”
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