Digital Transactions Authoritative, insightful and timely information for payments professionals
• Merchant processor Payment Data Systems Inc. extended the expiration of its non-binding letter of intent to buy independent sales organization Singular Payments LLC to enable Payment Data to finish its due diligence and Singular to conclude its audit; both companies agreed to the extension, Payment Data said. Terms of the stock and cash deal haven’t been disclosed.
• Of 24 financial institutions that originate two-thirds of automated clearing house volume, nearly all will be ready to originate same-day ACH debits on Sept. 15, the date when this service becomes available, according to NACHA, the rule-making body for the ACH. NACHA’s survey took place in March and April. Same-day credits began processing in September last year.
• Merchant processor Elavon announced it is supporting Android Pay in Canada.
• Card manufacturer CPI Card Group Inc. reported that Michigan-based Peninsula Federal Credit Union implemented CPI’s Card@Once system for instant issuance of EMV debit cards in branches.
• Digital-payment processor SegPay launched an affiliate-marketing platform for its merchants that handles affiliate payouts and other functions.
• Data-capture technology provider Top Image Systems Ltd. announced several executive-management changes.
• A Danish fashion tycoon took at least a 10% stake in Swedish payments provider Klarna, Reuters reported. Klarna was valued at $2.25 billion.
