Wednesday , December 13, 2017

BitPay Raises $30 Million and other Digital Transactions News briefs from 12/7/17

  • Valve Corp., which operates Steam, a popular gaming site, said it no longer is accepting Bitcoin because of the digital currency’s volatility and acceptance costs, which reached almost $20 in a transaction last week.
  • Bitcoin processor BitPay Inc. said it raised $30 million in additional funding. In 2014, the company also raised $30 million. Its 2018 goals include adding engineering personnel, managing regulatory licenses, making technology acquisitions, and expanding into emerging markets in Asia.
  • The Merchants Payments Coalition trade group praised Discover Financial Services for dropping its signature requirement on purchases and called on Visa Inc. to follow suit. Mastercard Inc. was the first payment network to scrub its signature requirement.
  • Processor Fidelity National Information Services Inc. (FIS) said Fifth Third Bank will use FIS to offer real-time payments to its customers through The Clearing House’s new RTP system.
  • Toronto-based nanopay Corp. announced its payment platform now supports business-to-business payments between Canada and the United States, with India and China to follow in 2018’s second quarter.
  • Payment Rails Ltd. launched its global payout platform that can send payments to more than 220 countries in more than 135 currencies. The service is available as a white-labeled product.
  • Garmin International Inc. and Fit Pay Inc., a unit of NXT-ID Inc., said Garmin Pay, the contactless payment feature for Garmin devices, is now available to eligible consumers with Visa Inc. credit, debit, and prepaid cards.
  • Visa Inc. announced “sensory branding” consisting of sound, animation, and haptic (vibration) cues that will signify completed transactions in digital and physical retail settings when consumers pay with Visa cards. The “sound of Visa” will debut in Visa’s global advertising campaign ahead of the 2018 Winter Olympics in South Korea.
  • Sionic Mobile, a cloud-based commerce company, said payments executives Linda Rossetti and Joe Cohane, and airline and travel executive Jeff Potter, joined its advisory board.

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