Novo Dia Group, a developer of point-of-sale software for electronic benefits transfer and other payments, said it has integrated with Square Inc.’s platform and enhanced its main product, Mobile Market, which it has renamed TotalPay.College payment-processing specialist PayMyTuition said it has developed a service that allows colleges and universities to settle cross-border …
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With Visa Issuing a Revenue Warning, the Coronavirus Takes a Further Toll on Payments Companies
With some of its payments cohorts already having warned the coronavirus would hurt their businesses, it was no surprise Visa Inc. joined the crowd Monday in forecasting reduced cardholder spending would translate into lower revenues. More signs of growing concern about the impact of the virus, officially named Covid-19, on …
Read More »In the Wake of the Mega-Mergers
2019 saw three of the biggest combinations in the history of the electronic payment business. The deals closed months ago. What happens now? Gotten over merger shock yet? Well, fasten your seat belt. The effects from last year’s trio of mega-combinations are likely to ripple through the payments industry for …
Read More »Routing Rumble
The Federal Trade Commission once again is looking into debit card transaction routing, and the focus is mostly on online payments. Here we go again: federal regulators are probing the seemingly arcane issue of how debit card transactions are routed. Anybody care for some caffeine? Abstruse as it may seem, …
Read More »WooCommerce Adds CBD-Specific Features and other Digital Transactions News briefs from 2/13/20
E-commerce platform WooCommerce said it is offering CBD-selling merchants new services for monitoring security issues, printing shipping labels, and automatic tax calculation.Acadia POS and merchant-services provider GCG Consulting Inc. said they handled nearly 50,000 transactions on 77 PAX Technology point-of-sale devices at the recent Waste Management Phoenix Open.Business-payments firm Biller Genie said its clients are …
Read More »Brink’s Makes a Significant Investment in MoneyGram
MoneyGram International Inc. is proving adept at attracting diverse investors. Cash-management provider The Brink’s Co. announced Thursday that it has invested $9 million in MoneyGram stock for a 4.95% stake in the company. The Brink’s investment comes in the wake of the $50 million Ripple Labs Inc., developer of the …
Read More »Bitcoin Depot Expands ATM Fleet and other Digital Transactions News briefs from 2/6/20
Bitcoin ATM deployer Bitcoin Depot said its network now includes more than 500 machines worldwide, with more than 100 in the Atlanta area. The company projects it will have more than 1,000 Bitcoin ATMS by the end of 2020.Lael Brainard, a Federal Reserve Board governor, said in a Wednesday speech that the Fed, …
Read More »POS Terminal Kingpin Ingenico Agrees To Be Acquired by Worldline in an $8.6 Billion Deal
The mega mergers aren’t over yet. In a global move with potentially major implications for the U.S. payments market, Ingenico Group S.A. said it has agreed to be acquired by Worldline S.A. for cash and stock consideration totaling approximately $8.6 billion. The transaction, expected to close in the third quarter, …
Read More »Cornerstone Purchases Move Your Mountain and other Digital Transactions News briefs from 2/3/20
Cornerstone Payment Systems announced the acquisition of Move Your Mountain, a crowd-funding platform. Terms were not disclosed.Digital cross-border payments provider Remitly Inc. launched Passbook by Remitly, a mobile app aimed at immigrants in the United States that features a no-fee account from Sunrise Banks N.A. and real-time transfers via Visa Inc.’s Visa Direct …
Read More »Behind Visa’s $5.3 Billion Bet on Plaid
Visa Inc. and Mastercard Inc. have made it plain in recent years they’re interested in something much bigger than card payments. A few weeks ago, Visa underscored its own determination to be the network for the world’s payments economy by announcing it will lay out fully $5.3 billion to buy …
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