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- Facebook Inc. chief executive Mark Zuckerberg told stock analysts this week that although advertising will continue to be the primary contributor to revenue, the company plans to add more commerce functions on Instagram, Facebook, and Facebook Marketplace, including features that let users buy products directly through the platforms. Instagram has already launched a new checkout button allowing users to buy products without leaving the app.
- Ride-share company Uber Technologies Inc., which expects to raise up to $9 billion in an initial public offering, has agreed to sell stock worth $500 million to PayPal Holdings Inc. at the IPO price.
- Thales introduced payShield 10K, a hardware security module (HSM) it says will enable firms to adopt new digital-payment services more easily and securely.
- Point-of-sale equipment maker Pax Technology Inc. announced that its entire POS terminal line, including its new Android-based devices, are certified to the BridgePay Network Solutions LLC gateway.
- Infinicept, which provides a cloud-based technology platform for payment facilitators, said it is introducing a strategic-partner program with BridgePay, DishOut, and Very Good Security as the first partner companies.
- Sweetgreen, a fast-casual salad restaurant chain that stopped accepting cash in late 2016 except in Boston, says all 94 of its locations will again accept cash by Sept. 30. Cash acceptance will first resume July 1 in Philadelphia, where the City Council recently passed an ordinance banning most merchants from not accepting cash.
- Online travel agency CheapAir said it has processed more than $5 million worth of Bitcoin payments for airline tickets since it started to accept the cryptocurrency in 2013. It also accepts Dash, Bitcoin Cash, and Litecoin, and says it next plans to start accepting Ethereum.
- Credit-union service organization PSCU announced its 2019 board of directors.
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