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- J.P. Morgan launched its Payments Partner Network, a cloud-based online marketplace for payments providers integrated with the banking giant’s payments platform. The marketplace’s technology is supported by Salesforce.
- Five-year-old cryptocurrency-wallet provider Magic raised $52 million in a funding round led by PayPal Ventures. The round brings Magic’s total raise to $80 million.
- Digital identity and fraud services provider Socure said its latest updates to its know-your-customer product enables it to verify more than 70% of 18-year-olds opening their first accounts.
- Rego Payment Architectures Inc., a provider of digital wallets offered through financial institutions, said client banks can now offer customers the ability to buy and sell fractional shares through the Rego wallet.
- MoneyGram International Inc. said its acquisition by private equity firm Madison Dearborn Partners closed Thursday. The $1.8 billion deal was announced in February 2022.
- Payments provider Adyen Inc. launched Payout Services, a platform that enables businesses to disburse funds to gig workers, marketplace sellers, and others via a single application programming interface.
- Nium, a real-time payments provider, announced it has enhanced its payroll offering to support payroll firms in Canada, Africa, the Middle East, Latin America, and Asia Pacific.
- POSaBIT Systems Corp., a payments processor specializing in the cannabis industry, reported $11.5 million in first-quarter revenue, up 82% year-over-year, on $136 million in payments volume, up 33%. The company reported a net loss of $3 million, up from $500,000 a year ago.
- The U.S. Faster Payments Council published the third edition of its “Cross-Border Payments Bulletin.”
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