Wednesday , September 19, 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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