Digital Transactions Authoritative, insightful and timely information for payments professionals
- Instacart, a technology provider for the grocery industry, announced that four grocery companies — Sprouts, Harmons, The Save Mart Companies, and Rosauers — have adopted Instacart Storefront Pro, an e-commerce platform aimed at grocers. More than 600 retailers are using Instacart’s e-commerce technology, the company says.
- Payments provider Priority Technology Holdings Inc. reported September-quarter merchant bank-card processing volume of $15.52 billion, up nearly 10% from the same quarter last year. For the first nine months of 2024, the company processed $46.1 billion in volume, a 3.6% increase. Revenue for the quarter totaled $227 million, a 20% jump, while for the nine months through Sept. 30 revenue climbed 17% to $652.6 million. Priority swung from an $87,000 net loss in the September quarter last year to net income of $10.7 million this year. For the first nine months of 2024, net income totaled $16.8 million, up from a $1.2 million loss in the same period last year.
- ACI Worldwide Inc. reported September-quarter revenue of $451.8 million, a 24% jump from the same period last year, while revenue for the first nine months of the year came to $1.14 million, a 17% increase. Net income for the quarter more than doubled to $81.4 million. and for the first nine months swung to a profit of $104.6 million from a net loss of $1.1 million in 2023. ACI’s earnings and revenues exceeded analysts’ expectations, sending its shares up more than 6% in early trading Thursday, to nearly $59.
- Payments fintech Finzly said its payments hub will take over processing on a single platform for Wings Credit Union, including Fedwire, automated clearing house, and real-time transactions. Part of the effort is to prepare for the transition of Fedwire transactions to the ISO 20022 standard by March. Wings is said to be Minnesota’s largest credit union, serving more than 360,000 members.
Related Articles
Check Also
COMMENTARY: It’s Time to Stiffen Defenses Against Payment Fraud
Recent headlines prove that payment fraud continues to pose an ever-growing threat to businesses of all sizes. …