In the wake of Covid-19, merchants continue to see more features added to cloud-based point-of-sale systems. In the latest updates, Lightspeed POS Inc. introduced on Tuesday new e-commerce services, including shipping, curbside pick-up, and appointment setting. And Revel Systems Inc. has refined its online ordering and order-pickup management. First up, …

Merchant processor Net Element Inc. has a letter of intent to merge with Mullen Technologies Inc., a privately held startup that plans to sell Chinese-made electric sports cars in the U.S. The pending deal, announced Monday, requires Net Element to divest its payment-processing business. The so-called “reverse triangular merger” is …

American Express Co. has become the first foreign payments company to be approved to clear domestic transactions in mainland China. The move comes with approval of a network clearing license over the weekend from the People’s Bank of China for Express Technology Services Co. Ltd., an AmEx joint venture with …

Bitcoin may be the most popular cryptocurrency, but acceptance of any digital currency is limited to just a few thousand merchants. Crypto processor BitPay Inc. on Thursday introduced a solution with a service that lets users spend their holdings via a prepaid Mastercard that features an EMV chip and contactless capability. …

It’s not yet profitable, but Bill.com Holdings Inc. must be doing something Wall Street likes. The processor, which had its initial public offering in December at $22 per share, on Wednesday announced an “upsized” follow-on offering of 7.2 million shares of common stock priced at $74.25 per share.  It was …

By Giact Business email compromise (“BEC”) attempts have skyrocketed in recent weeks. According to the FBI, fraud operators are using the “uncertainty surrounding the Covid-19 pandemic to further their efforts.”  With many in the U.S. shifting to a work-from-home environments, without the infrastructure and security in place to defend against …

Despite tentative signs of an economic recovery from the coronavirus-induced depression, some experts are forecasting a gloomy outlook for store closures as the year plays out and merchants struggle with debt loads and a consumer shift to e-commerce. At least 20,000, and as many as 25,000, stores will likely shut …

Paysafe Group has big ambitions for its Skrill financial products in the United States. Monday’s U.S. launch of the Skrill Money Transfer service is but the first step of a broader U.S. expansion for Skrill, says Lorenzo Pellegrino, a Paysafe executive. The free money-transfer service followed January’s debut of the …

The economy is slowly thawing from its Covid-19 freeze-up, but many card-accepting merchants are struggling with more chargebacks stemming from canceled trips, non-delivery of goods, or other reasons. And some of them also are dealing with demands from their merchant acquirers for more cash to fund reserve accounts. Payments and …

Varo Money Inc., a 5-year-old mobile-banking and payments startup that’s closing in on a national banking charter, raised $241 million in a Series D round that closed Tuesday. The round, co-led by Gallatin Point Capital and The Rise Fund, will help the San Francisco-based Varo expand its financial-product offerings and …