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- Mastercard Inc. acquired Brighterion Inc., a software company specializing in artificial intelligence that Mastercard expects will enhance its customer-experience and fraud-prevention services for customers. Terms of the deal were not disclosed.
- PayPal Holdings Inc. and Visa Inc. extended to Europe a collaboration deal first announced last summer. Under the agreement, PayPal’s European operation will promote Visa for account funding and PayPal will get access to Visa’s token engine for payments in the region. In addition, PayPal will use its European banking license to issue Visa accounts.
- In related news PayPal closed on its acquisition of TIO Networks Corp., a Canada-based electronic bill-payment service, for approximately $238 million. The deal was announced in February. TIO processed more than $7 billion in consumer bill payments in its fiscal 2016 and serves 16 million consumer bill-pay accounts.
- Independent sales organization American Payment Solutions said it signed a partnership deal with ScanForce Mobile Sales to provide credit card processing for small and mid-size businesses.
- Mobile peer-to-peer payments in the United States will increase 55% this year to reach $120.38 billion and will double in value by 2021, according to a report from eMarketer. Those using a P2P app at least once a month will total 63.5 million adults in 2017, or nearly one-third of all smart-phone users, according to the report. The ongoing rollout of Zelle, a P2P service offered by many of the nation’s major banks, is expected to account for much of the growth.
- SpotHero, which offers a mobile parking-reservation app, has raised $30 million in a Series C funding round.
- Former U.S. ambassador to China Max Baucus warned over the weekend that China is “overtaking” the United States in online-payments technology, according to a report in Forbes.
- Mary Weaver Bennett, formerly director of government and industry relations for the Electronic Transactions Association and most recently a consultant, has been named director of the Michael O. Leavitt Center for Politics and Public Service at Southern Utah University.
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