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- CannaTrac Technology Inc., a cashless payment provider to the cannabis industry under the CannaCard brand, announced a letter of intent with an unnamed cannabidiol distributor to create an online-payment service using the CannaCard platform. CannaTrac said the distributor’s clients currently generate $80 million in annual revenue and will use CannaCard as the sole method of payment.
- Some corporate and franchised locations of Moe’s Southwest Grill, McAlister’s Deli, and Schlotzsky’s experienced “unauthorized activity” on payment cards. The restaurant chains say they are working with law enforcement and the card networks on the incident.
- The Clearing House Payments Co. announced that Bankers’ Bank, a provider of correspondent banking services to community banks, will fund and manage positions on behalf of its clients as a funding agent in TCH’s Real Time Payments Network.
- The Miami-Dade Transit Metrorail system serving the Miami area began allowing riders to pay fares with contactless cards, Visa announced. The city joins New York as the second major metro area recently to enable contactless payment for transit.
- Mastercard Inc. said it has broadened its existing marketing agreement with Riot Games, which oversees the League of Legends esports event, to include exclusive sponsorship of the financial-services category.
- WEX Inc. announced it signed a multiyear extension of an agreement to be exclusive issuer of private-label fleet cards for Phillips 66. The agreement covers more than 7,000 Phillips 66 locations.
- OODA Health, provider of real-time payments services for health care, released a study indicating how “payment dysfunction” creates problems that interfere with patient care. For example, providers said 44% of patients are distracted enough by bills and payment worries that the issue interferes with compliance with medical plans, according to the study.
- Plastiq, whose platform enables bill payments to be made with cards, announced an agreement that will allow U.S. users of Visa commercial cards to pay vendors that do not accept card payments. Less than 12% of business-to-business payments are made with cards, according to a Credit Research Foundation study cited by Plastiq.
- SmartPay Leasing LLC, a payments provider for credit-backed purchases of mobile devices and service plans, appointed Basil Kanno as vice president of information technology. Kanno joins the company from PCMS Datafit.
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