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- Repay Holdings Corp. said it is acquiring BillingTree, which provides payment services to the healthcare, credit union, accounts receivable management, and energy industries, for $503 million. BillingTree was founded in 2003. Repay also released its first quarter results with $47.5 million in revenue, a 20.3% increase from $39.5 million in the 2020 first quarter. Its net loss increased to $18 million from a $13.2 million loss last year.
- Card manufacturer CPI Card Group Inc. reported $89.1 million in first quarter revenue, up 20.4% from $74 million in the first quarter of 2020. Its net income of $2.4 million increased 33.3% from $1.8 million in the corresponding quarter a year ago. Sales in the credit, debit, and prepaid segments all increased by double digits in the quarter, CPI said.
- PayBright Inc. said businesses in Canada using Fiserv Inc.’s Clover point-of-sale technology can offer PayBright’s buy now, pay later option at checkout by downloading the PayBright app from the Clover app store. PayBright is a unit of BNPL company Affirm Inc.
- Payments provider Lightspeed POS Inc. said it will integrate Google apps in its platform to help stores as they re-open and expand their capacity.
- Financial technology provider Computer Services Inc. said it now offers it clients access to know-your-customer and sanctions risk management tools from Kharon.
- Processor Fiserv Inc. said insurer State Farm will use digital payout services from Fiserv to speed auto and fire claim payments
- Visa Inc. announced Monterey-Salinas Transit has become the first transit agency in California to offer contactless payments for bus rides.
- The Western Union Co. said it has enabled cross-border payments from the United States through Google Pay. Users can fund the transaction via a Google Pay bank account or card.
- Remittance provider Remitly Inc. said Visa Inc. made an investment in the company. Terms were not disclosed.
- The Bank of America 2021 Small Business Owners Report found that 60% of business owners expect their revenue to increase over the next 12 months, up from 34% in 2020. Ipsos Public Affairs conducted the survey of 995 small business owners earlier this Spring.
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