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- Processor Shift4 Payments Inc. said it will integrate payment-issuance technology from payments provider ConnexPay for online travel agencies operating in the United Kingdom and Europe.
The Dow Jones Industrial Average gained 1,100 points in early trading Wednesday as at least five payments companies—including Visa Inc. and American Express Co.—reached all-time highs. The skyrocketing market follows immediately news that Donald Trump has defeated vice president Kamala Harris to clinch the U.S. presidency. Payments equities notching historic highs include: ACI (up 4.39% to $53.89 per share); AmEx (up 4.9 % to $289.49); Discover (up 18% to $179.13); Synchrony Financial (up 13.9% to $64.69), and Visa (up 4.1% to $305.41).- U.S. consumers are spending $180 billion annually on mobile-phone bills, with the average cost coming to $121 per month, according to “U.S. Mobile Phone Market Size and Household Spend Report for 2024” from doxo, a bill-payments platform. Some 90% of U.S. consumers now own a smart phone, according to data from the Pew Research Center cited by doxo.
- Payments provider Jack Henry & Associates Inc. reported $244.3 million in processing revenue for its September 2024 quarter, up 6.6% from the same period in 2023. Total company revenue rose 4.2% to $356.7 million. Net income totaled $119.2 million, a 17.2% jump year-over-year.
- Online payments provider Checkout.com said Sure, an insurance technology provider, will use its services.
- Web platform DreamHost said a partnership with Ecwid, an e-commerce service from Lightspeed Commerce Inc., will enable it to offer online store setup and scalability through multiple channels.
- China’s UnionPay International card network said payments on its Alipay and Weixin systems are now fully enabled for UnionPay cards issued in countries outside the Chinese mainland. More than 250 million UnionPay cards have been issued so far in 83 countries outside mainland China, according to the network.
- Attorney Kelly Welsh joined Discover Financial Services, operator of the Discover payments network, as interim chief legal officer, general counsel, and head of corporate affairs, succeeding Hope Mehlman, who will leave the company at the end of the month to pursue another opportunity. Welsh’s experience includes serving as general counsel of the U.S. Department of Commerce and general counsel at Northern Trust and Ameritech. He arrives as Discover negotiates a proposed merger with Capital One.
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