- Payment-technology firm i3 Verticals could raise almost $100 million in an expected initial public offering, according to news reports. The firm, launched six years ago as Charge Payment, is led by Greg Daily, a former chief executive at iPayment Inc.
- ATM network owner and operator Cardtronics plc reported that under an expanded relationship it now operates and manages more than 135 branch and off-premise ATMs for PenFed (formerly Pentagon Federal), the nation’s second-largest federally chartered credit union.
- Starbucks Corp. introduced its Starbucks Rewards Visa-branded reloadable prepaid card issued by JPMorgan Chase & Co.; the card enables users to earn Starbucks “stars” at the coffee company’s locations and with non-Starbucks purchases. Starbucks rolled out a Chase-issued Visa credit card earlier this year.
- Discover Financial Services announced an online college program for its U.S. employees that covers all costs for tuition, fees, books, and supplies at three schools.
- In an effort to prevent Sweden from going completely cashless, a Parliamentary committee is proposing that larger banks that provide checking accounts be required to offer cash withdrawals and handle daily receipts, Bloomberg reported. Some observers say Sweden is on track to become the first country to have an entirely electronic payments system, generating fears that some people without mobile phones or payment cards may lose access to financial services.
- Some 36% of consumers want to use a wearable device, such as a bracelet or fitness tracker, to make payments at unattended terminals, according to a report released by Transaction Network Services. Seventy percent want to be able to use both cards and cash at unattended terminals, according to the survey.
- Business-to-business payments provider PayStand expanded its service into Canada.
- Some 29% of small and medium-size businesses, and 17% of micro-businesses, in the United Kingdom enable app-based payments in their stores, according to research commissioned by terminal maker VeriFone Systems Inc.
The mobile point-of-sale revolution is picking up momentum, despite having started nearly a decade ago …