Tuesday , November 13, 2018

Cardlytics’s Revenue Increases 21% and other Digital Transactions News briefs from 8/15/18

  • Paysafe Group said it is rebranding merchant acquirer iPayment Holdings Inc. as Paysafe “with immediate effect.” Paysafe acquired iPayment this spring for undisclosed terms.
  • Rewards platform provider Cardlytics Inc. said revenue from Cardlytics Direct, the company’s primary product, hit $35.1 million in the second quarter, up 21% from a year earlier. The company also announced that Wells Fargo & Co. is now a Cardlytics Direct customer.
  • Payment card standards body EMVCo announced the availability its EMV 3-D Secure Test Platform that enables companies to test their online payment systems for conformity with EMVCo’s new EMV 3-D Secure messaging protocol, which protects card-not-present transactions.
  • In related news, testing laboratory UL announced payment-service providers, merchants, and card issuers can test their EMV 3-D Secure solutions on a new Web-based test platform.
  • Merchant processor Payment Data Systems Inc. said second-quarter revenues grew 146% year-over-year to $6.3 million, mainly due to its September 2017 acquisition of Singular Payments LLC.
  • U.S. credit card debt totaled $829 billion in the second quarter, up 5.7% from $784 billion a year earlier, according to the Federal Reserve Bank of New York’s latest quarterly household-debt report.
  • Admiral Pepsi, a large privately held Pepsi bottler, has signed a multiyear agreement with USA Technologies Inc. to deploy USAT’s ePort Connect service for contactless payments at 6,000 vending machines.
  • Corporate payments provider WEX Inc. announced Monro Inc. will accept WEX’s fleet card at more than 1,100 Monro vehicle-service locations.
  • Cross-border payments platform Flow said merchants will be able to accept cryptocurrencies via an agreement with blockchain specialist BitPay.
  • Payment gateway Allied Wallet has agreed to enable Alipay, the mobile-payment service from China’s Ant Financial Group.

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