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• Mobile-payments provider LevelUp said it has closed a $50 million funding round with participation by existing investor JPMorgan Chase & Co. as well as US Boston and CentroCredit Bank. LevelUp, which says its user count is nearly 1 million, is the subject of a lawsuit by competitor CardFree Inc. alleging LevelUp fraudulently accessed CardFree’s platform.
• Hardware and software vendor Rambus Inc. announced its IoT Device Management service, which will become available in the fourth quarter and will work with Internet of Things configurations to provide connectivity to service providers and protect against distributed denial-of-service attacks.
• Mastercard Inc. said travelers using Expedia.com and the Expedia-owned booking sites Orbitz and Travelocity can now use the Masterpass digital-payment service to pay for hotel, flight, and cruise reservations.
• Upserve, provider of a restaurant-management platform, said it is now managing more than $11 billion in annual transaction volume, which it says makes it the largest provider of cloud-based point-of-sale services for independent restaurants. In addition, the company announced new partners, new capabilities for multilocation restaurants, and the addition of former OnDeck Capital executive Brad Kime as senior vice president of channel and alliances.
• Processor Payment Data Systems Inc. said first-quarter revenues fell 13% year-over-year to $2.8 million on a 14% drop in transactions, to 2.8 million, mainly because of lower automated clearing house volumes and credit card fees. The company said momentum in its PINless debit product is accelerating.
• The Federal Reserve Bank of San Francisco launched a Web site that provides information about the bank’s objectives and activities in financial technology.
• Ingenico Group said Anantara Vacation Club, a resort company based in Thailand, will use Ingenico ePayments for payment acceptance and processing.
