Graylin Starts Another Payments Enterprise and other Digital Transactions News briefs from 1/10/19
Digital Transactions News staff
January 10, 2019
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Marketing, Mergers & Acquisitions, Transaction Processing
- Will Graylin, a payments entrepreneur and former Samsung Pay executive, launched OV Loop, which includes two voice-activated messaging products, OV App and OV Pro. OV App includes OV Pay, a single-tap payment application under development with financial institutions.
- Online merchants that don’t process local currencies fail to consummate 6% of all international sales, according to research by payments provider BlueSnap. Those that process local currencies, on the other hand, save 1% on average on cross-border credit card fees.
- FinFit, a financial-technology company used by businesses to provide personal-finance tools to employees, launched a Visa prepaid card as a free product for all members.
- Corporate-payments provider WEX Inc., in partnership with AI.io and Priceline Partner Network, launched a travel chatbot called Halo Travel. The bot can book hotels and flights via voice commands.
- Processor Elavon, a unit of U.S. Bancorp, has acquired CenPOS, a vendor of payments software for large companies. Terms were not disclosed.
- Oceanpayment Co. LLC, a payment-service provider serving merchants in 200 countries, signed on with Diners Club International to allow client merchants to accept Diners Club as well as Discover and affiliate-network cards.
- United Airlines refreshed its United Mileage Plus X app, adding more programs allowing members to earn miles and incorporating a new Visa-branded rewards card.
- Klarna, a point-of-sale payments provider that allows customers to pay merchants after purchase, launched a program with watch-seller Daniel Wellington that allows customers to pay for timepieces and accessories in four equal, bi-weekly installments without interest. The installments are charged to a card selected by the customer. Klarna has an estimated valuation of $2.5 billion, according to CB Insights.
- Cubic Corp. said its Cubic Transportation Systems unit won a $4.5 million contract to upgrade fare-payment systems for buses operated by Foothill Transit, a Los Angeles-area transit agency. The buses, which currently accept cash and LA Metro contactless cards, will be enabled to accept the LA Metro TAP mobile app, expected to debut later.
- Magensa, a subsidiary of payments-technology provider MagTek Inc., released a new version of its QwickSign and Pay app and virtual terminal.
- Processor BillingTree appointed Christine Lee chief executive officer, succeeding Edgars Sturans, who will stay with the company as a board member. Lee, a former executive with Moneris, Vantiv, NPC, and Bank of America, is the president-elect for the Electronic Transactions Association.
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