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- U.S. Bancorp generated $454 million in merchant processing services revenue in the second quarter, up 4.1% from $436 million in the year-ago quarter.
- Private-label card specialist Synchrony Financial posted $3.7 billion in second-quarter revenue, up 12.1% from $3.3 billion in the 2023 second quarter. Net income of $643 million increased 13% from $569 million for the same period.
- Genstar Capital has agreed to make an unspecified investment in AffiniPay, a payments platform for legal and accounting professionals. Current investor TA Associates announced the agreement along with Genstar.
- Granite Creek Capital Partners announced an unspecified growth investment in Madwire LLC, a specialist in marketing and payments support for small and medium-size businesses.
- Discover Financial Services said it will sell its $10.1 billion private student loan portfolio to funds and accounts managed by investment firms Carlyle and KKR.
- Xsolla, a U.S.-based company whose technology handles payments from videogame players to game developers, said it has expanded its reach to include payment providers throughout Southeast and East Asia and Pacific markets.
- Payments and financial-services technology platform Bread Financial said it is making a $1-million donation to the Women’s Sports Foundation, which supports sports and physical-activity outlets for girls and women.
- Payments-technology provider Valor PayTech announced a partnership with the professional organization PayTech Women, in which the company will support mentorship programs and other initiatives aimed at advancing women in the payments industry.
- American Express Co. opened its 29th Centurion Lounge at Ronald Reagan Washington National Airport.
- The PCI Security Standards Council named Deanne Zettler head of product and technology. Zettler’s past positions include stints at Discover and Silicon Valley Bank.
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