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- Discover Financial Services reported payments volume of $102 billion for the fourth quarter of 2024, up 4% year-over-year, including a 7% rise for the Pulse electronic funds transfer network and a 9% increase for Diners Club. Overall, the company reported a 14% increase in revenue net of interest expense, to $4.76 billion, while net income nearly quadrupled to $1.29 billion. Discover is expected later this year to merge with Capital One Financial Corp.
- Payments provider NMI launched Bill Connect, an extension of the NMI Payment Gateway that uses technology from Biller Genie. The service enables integrations with several accounting software programs making it easier for small businesses to manage their accounts receivable along with payments.
- Private-label issuer and credit provider Synchrony Financial renewed a more than 30-year agreement with retailer Sam’s Club that will see it continue to be the issuer of consumer, business, and commercial credit cards for Sam’s Club. The renewal is for multiple years, but Synchrony did not disclose the terms.
- Wix.com Inc., a Web site builder, completed an integration with YouTube Shopping to enable merchants to sell their products on the platform. Wix also announced a partnership with processor Worldline that will offer Wix users access to Worldline’s local payment and banking options beginning in Europe and Asia Pacific regions.
- Visa Inc. has invested in Moniepoint Inc., a 10-year-old Nigeria-based payments platform and merchant acquirer. Terms were not announced.
- Payments platform Transcard announced a multi-party lienholder service that digitizes insurance payouts to multiple parties when a lienholder is involved.
- Former Visa Inc. vice chairman and chief financial officer Vasant Prabhu has joined the advisory board at Fireblocks, a blockchain company.
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