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Its IPO Document Shows the Massive Extent of Uber’s Card Business

Uber Technologies Inc. doesn’t say a lot about its payment strategy in the registration statement it issued Thursday ahead of its highly anticipated initial public offering of stock, but the filing does reveal the ride-share leader is an enormous generator of payment card volume and card-acceptance fees. The statement says …

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In an Active Week for Worldpay, the Big Processor Says It Will Be Amazon Pay’s First Acquirer

As if the announcement of its pending merger with Fidelity National Information Services Inc. wasn’t enough news for one week, Worldpay Inc. on Wednesday said it will acquire Amazon Pay transactions for online merchants. The news means Cincinnati-based Worldpay has become the first merchant acquirer to work with the retailing …

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SpotOn Integrates Poynt Terminal and other Digital Transactions News briefs from 3/18/19

SpotOn Transact LLC said it will integrate Poynt Inc.’s smart point-of-sale terminal into its platform. SpotOn said it is the first to work with Poynt to integrate loyalty, marketing, and POS software directly into the terminal hardware. Synchrony Financial expanded the merchant categories eligible to accept its Synchrony Car Care …

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Visa and Mastercard May Face U.S. Ban on Venezuela Transactions and other Digital Transactions News briefs from 3/15/19

The Trump administration is considering sanctions that would ban Visa Inc., Mastercard Inc., and financial institutions from handling transactions in Venezuela, according to Reuters. The move would be aimed at restricting the ability of the Venezuelan government, headed by embattled president Nicolas Maduro, to access funds. IBM Corp. may be …

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Mastercard To Acquire Ethoca and other Digital Transactions News briefs from 3/12/19

Mastercard Inc. said it is purchasing Ethoca Inc., a fraud-mitigation firm, for an undisclosed amount. The deal is expected to close in the second quarter. Ethoca works with more than 5,000 merchants and 4,000 financial institutions. Mastercard intends to expand Ethoca’s capabilities and combine the company with its current security …

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Fleetcor To Buy Nvoicepay and other Digital Transactions News briefs from 3/5/19

Fleetcor Technologies Inc., a business-to-business payments provider, said it has agreed to acquire Nvoicepay Inc., a provider of accounts-payable technology. Terms were not disclosed. Private-equity firm Napier Park Financial Partners invested $10 million in Nvoicepay in 2016. Mobile point-of-sale specialist CardFlight Inc. said its SwipeSimple product now includes the ability …

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Atlanta’s Mercedes-Benz Stadium Will Go Cashless Next Weekend

While a handful of states and cities are passing laws requiring retailers to accept cash, Mercedes-Benz Stadium, home of the National Football League’s Atlanta Falcons and Major League Soccer’s Atlanta United, will go completely cashless March 10. Stadium management announced the new policy Monday, and it takes effect with Atlanta …

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Fiserv’s Big Bite

Its $22-billion megamerger agreement with First Data sets it up to be a dominant player on both the bank and merchant sides of payments. How will the industry react? Executives at Fiserv Inc. all but popped champagne corks on Feb. 7 when they spoke to industry analysts about the Brookfield, …

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Does Cash Need Legal Protection in Stores?

Efforts to ban cashless stores are afoot in New Jersey and some of the nation’s largest cities, including New York. But does cash really need legal protection from payment cards and mobile wallets? That’s the question public officials as well as payments and retail executives are mulling. Opponents of cashless …

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Evertec’s Payment Volumes Surge as Hurricane-Ravaged Puerto Rico Recovers

Puerto Rico-based payment processor Evertec Inc. suffered along with the rest of the island when hurricanes Irma and especially Maria swept through in September 2017 and destroyed homes, businesses, and the electrical grid, but now Evertec’s payment volumes are surging as the island recovers. Puerto Rican transaction volumes were up …

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Digital Transactions