Friday , June 22, 2018 Lands $100 Million in Funding and other Digital Transactions News briefs from 10/11/17

  • said it secured $100 million in a funding round led by JPMorgan Chase & Co. and Singapore-based investment firm Temasek Holdings, bringing total investment in the business-payment network to more than $200 million; the company plans to use the funds for network expansion and to accelerate its distribution among banks and accounting firms.
  • Discover Financial Services said its Discover cardholders can now redeem their Cashback Bonus rewards for a statement credit after a purchase using the Apple Pay mobile-payments service.
  • Research firm Market Track LLC announced a survey of 1,000 U.S. consumers found only 30% plan to shop in-store on Thanksgiving, compared to 50% in 2016. It also found that only 40% plan to shop in stores on Black Friday, the day after Thanksgiving.
  • Visa Inc. said 100 cities examined by research firm Roubini ThoughtLab in a study Visa commissioned could yield collective net benefits of up to $470 billion per year if the entire population in each city moved to digital-payment usage equal to the top 10% of the users in that city today.
  • Mastercard Inc. said it has committed to bringing science, technology, engineering, and mathematics (STEM) educational opportunities to 200,000 girls ages 10 to 13 years by 2020 through its Girls4Tech program that launched in 2014 and debuted in China and Singapore last year.
  • Bluefin Payment Systems, which provides point-to-point encryption services, said payments developer ITC Systems will use Bluefin’s services.
  • Payments provider CenPOS said it achieved the Qualified Integrated Reseller certification from the PCI Security Standards Council. It also noted a third-party auditor’s attestation to its Health Insurance Portability and Accountability compliance.
  • Co-Op Financial Services named Matthew Maguire chief data officer. Maguire joined the credit-union services organization from Bank of America Corp.

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