Digital Transactions Authoritative, insightful and timely information for payments professionals
• Processor Vantiv Inc. launched the One Network Experience service for software developers. Dubbed O.N.E., the service offers a suite of integration tools, personalized help, and access to an online developer community.
• Meta Financial Group Inc. said Meta Payment Systems, a division of MetaBank, a major prepaid card issuer, posted $8.5 million in pre-tax income in the third quarter of fiscal 2016, more than double the unit’s $3.8 million in pre-tax income a year earlier.
• Outerwall Inc., owner of the Redbox DVD-rental kiosks and Coinstar coin-counting machines, will be taken private by affiliates of Apollo Global Management LLC for $1.6 billion under a pending cash deal that will pay stockholders $52 per share, an 11% premium over Friday’s $46.91 close. Redbox, which accounted for 80% of the company’s $2.19 billion in revenues last year, is seeing DVD rentals decline as consumers watch more movies via Internet streaming services.
• Eyeing the rapid development of digital commerce, Visa Inc. announced it will open in November in Palo Alto, Calif., a 62,000-square-foot office focused on technology research, data security, and merchant solutions.
• Processing giant First Data Corp. agreed to integrate technology platforms with Bancolombia to deliver improved services to merchants in Colombia.
• Brilliant Directories, a platform that enables users to create business directories and membership Web sites, said it now offers Stripe, PayPal, eWay, and 2Checkout integration.
• Atom Tickets, whose mobile app allows moviegoers to pre-order and pay for tickets and concessions, expanded its reach to theaters in eight cities in addition to existing markets in Los Angeles, Atlanta, and Nashville. The company, which works with AMC Theaters and Regal Cinemas, announced an agreement with the Studio Movie Grill chain and projected nationwide availability by the end of the summer.
• U.S. Bank and accounting provider Sage announced the AP Optimizer tool that integrates into the Sage Live accounting platform and helps U.S. Bank business customers maximize cash flow.
