Presto Automation Inc., a provider of voice ordering and other payments technology for drive-through restaurants, reported March-quarter revenue of $6.6 million, down 12% year-over-year. The company says it swung to a net loss of $15.7 million, compared to a gain last year of $9 million, owing to a change in the fair …

A startup fintech called Engage has launched a communication channel allowing customers and merchants to interact via purchase transactions through card networks. In the hotly contested hospitality point-of-sale market, Lightspeed Commerce Inc. launched the newest version of its Lightspeed Restaurant set of technologies, which is immediately available in the U.S. market. Security firm Sophos said it …

Payroc WorldAccess LLC has acquired Atlantic Merchant Services, LLC for an undisclosed sum. Raleigh, N.C.-based-Atlantic Merchant serves merchants and businesses across the mid-Atlantic region, as well as West Virginia, Tennessee, Michigan, and Texas. Atlantic Merchant’s services include touchscreen POS, mobile solutions, e-commerce, countertop terminals, and smart-phone applications. Merchant segments serviced …

ABI Research forecasted the number of physical, instantly issued payment cards globally will grow to 471.1 million shipments in 2027 from 243.2 million in 2022. Citicorp’s Citi Retail Services unit introduced its Citi Pay line of services, with the first product consisting of Citi Pay Credit, a digital credit card. An installment-loan product will …

The major restaurant point-of-sale technology provider Toast Inc. early Wednesday reported revenues of $819 million for the first quarter of 2023, a 53% increase over the same period a year earlier. Recurring revenue for the quarter totaled $987 million, a 55% increase from a year earlier. In addition, Toast grew …

Presto Automation Inc., a provider of artificial intelligence-based solutions for drive-through restaurants, is rolling out its voice-ordering system at participating Carl’s Jr. and Hardee’s drive-throughs nationwide. San Carlos, Calif.-based Presto had been piloting the technology at select Carl’s Jr. and Hardees locations. Carl’s Jr. and Hardees, which together have about …

Buoyed by Cash App, services, and a move up market Block Inc., parent of Square and Afterpay, generated nearly $5 billion in first-quarter revenue, a 25% increase from $4 billion in the same quarter a year ago. Its transaction-based revenue of $1.42 billion was a 15% increase from $1.29 billion …

Shift4 Payments Inc. is still waiting on approval from European regulators to complete its $525-million Finaro acquisition, but in the mean time the Allentown, Pa.-based processor has been busy expanding in its home market. That expansion includes yet other acquisitions aimed at consolidating Shift4’s grip on the restaurant point-of-sale market, …

Working with Searchlight Capital Partners, payments provider Rev Worldwide closed on its $1-billion all-cash acquisition of the Netspend consumer business from Global Payments Inc. Netspend is a specialist in prepaid and debit cards for more than 100,000 retail locations. Payments provider Finix Payments Inc. said it is now a payment processor, having completed direct connections to …

Amazon.com Inc. has beefed up the rewards for its Visa-branded cards issued by Chase, in response to cardholder’s desire for travel-related perks and the ability to earn more rewards for day-to-day expenses, such as commuting. Additionally, Amazon is allowing cardholders to redeem rewards daily and has rebranded its cards. Prime …