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- Apple Inc. said revenue from its services, which includes Apple Pay, the App Store, Apple Music, and iCloud, surpassed $9 billion in its second quarter, besting by more than $2 billion the total a year ago. “Apple Pay continues its strong growth with active users more than doubling and transactions tripling year-over-year,” CEO Tim Cook said during an earnings call Tuesday. He noted Apple Pay’s availability as a payment option for transit as a “key driver of adoption.” Overall, Apple sold more than 52 million iPhone smart phones in the quarter, up 3% from 50.7 million units in the year-prior quarter.
- Syncapay, a holding company focused on acquiring payments companies, launched with the backing of Bain Capital Ventures, Silversmith Capital Partners, MissionOG, and Nyca Partners. Juli Spottiswood, founder of Parago Inc., which was sold to Blackhawk Network Holdings Inc. in 2014, is chairman and chief executive. She also is on the board of directors for Cardtronics plc.
- Payments provider PaymentSpring launched its Checkout Widget to enable merchants to create custom checkout experiences.
- Mastercard Inc. demonstrated a technique for consumers in their homes to enroll a fingerprint for use with a biometric-enabled card. Mastercard completed testing of a biometric-enabled card last year that required registration at a financial institution.
- TableSafe Inc., maker of tabletop checkout systems for restaurants, said The Fort restaurant in Denver installed its RAIL platform, which includes point-to-point encryption of card data.
- MO Tecnologias LLC, which provides credit-scoring technology and a loan-management platform, announced that Blackstone Merchant Services Inc. will begin offering the MO Tecnologias merchant-cash advance product within 90 days.
- Fidelity National Information Services Inc. (FIS) released its 2018 PACE Insights report that found that 60% of small and mid-size U.S. businesses accept online payments, up from 47% in 2017. Forty-one percent accept person-to-person payments, such as PayPal, up from 31% a year ago. Payment acceptance via a mobile device or app was 40%, up from 24%.
- Sears Holdings Corp. said its Lease It program is now available online as an additional financing option on certain products. The program has been available in Sears and Kmart stores since 2012. Sites supporting Lease It include Sears.com, Kmart.com, and related mobile apps.
- Jack Henry & Associates Inc., provider of payment-processing and technology to financial institutions, announced its revenue for the quarter ended March 31 increased 9% year-over-year to $384.7 million while operating income also jumped 9% to $96.3 million. Net income rose 21% to $72.4 million, largely as an effect of the Tax Cuts and Jobs Act.
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