Digital Transactions Authoritative, insightful and timely information for payments professionals
• Puerto Rico-based Evertec Inc. said revenue in its merchant-acquiring unit declined 1% in the fourth quarter to $23.1 million while revenue in its payment-processing segment grew 0.4% to $28.9 million. Evertec announced it has an agreement to buy Chile-based EFT Group S.A., a payment processor and software company that uses the PayGroup brand, for $42 million; the deal will expand Evertec’s presence across South America.
• Payment technology provider ACI Worldwide Inc. said French payment service provider PayPlug will use ACI’s Pay.On payments gateway to power its international expansion efforts.
• IDT Corp., a communications and payments-services company, introduced BOSS Revolution Money, an app for iOS and Android devices that enables consumers to send money transfers, mobile airtime, and electronic gift cards to other consumers.
• Retailer Gap Inc. in 2016 expanded mobile point-of-sale functionality to approximately 20% of its devices used in it stores.
• The Merchant Advisory Group, a payments association for merchants, launched a task force to focus on online and mobile-commerce issues.
• NACHA, the governing body for the automated clearing house system, released a case study on using Direct Payment via ACH for donor retention, and launched a companion marketing effort about the service.
• Giact, whose technology is aimed at reducing payment fraud, appointed Teresa Biko as executive vice president of client relations. Biko comes to the company from JPMorgan Chase & Co.’s Chase Paymentech processing unit.
• Cubic Transportation Systems said Jannet Walker Ford will join the fare-payment technology provider as vice president and general manager of its Eastern Region, Americas, effective March 6; Walker Ford most recently was a vice president at engineering firm Parsons Corp. and earlier was an executive at Atlanta’s MARTA transit system.
