E-Commerce

While the recent partnership between fintech Wise US Inc., which specializes in cross-border payments, and Plaid Inc. is another example of the momentum open banking is gaining globally, one overlooked element of the deal is the role the open-banking standard developed by the Financial Data Exchange played in making the …

Central Payments, a unit of Central Bank of Kansas City, completed a $30 million funding round, which was led by Castle Creek Capital and with more investment from Launchpad Capital. The funding spins the company out from Central Bank.PayGround, a digital wallet for medical bills, launched a “get healthy now, pay …

The card-issuing platform Marqeta Inc. on Wednesday reported processing volume of $40 billion for the June quarter, a 53% increase over the same time last year, but the 12-year-old company also announced its founding chief executive is leaving that position. Jason Gardner, a well-known payments entrepreneur, said he will move …

Sionic Mobile Corp., a provider of consumer-to-business payments technology, will launch a program that enables independent sales organizations, agents, independent software vendors and other resellers to provide merchant clients with a new Pay-by-Bank service in the United States. The program, which will launch Sept. 1, is intended to help resellers …

Bruce Lowthers took over a stumbling Paysafe Ltd. back in May, and now with three months evaluating the company behind him, the new chief executive early Wednesday offered encouragement mixed with some tough talk. Speaking particularly about product innovation, Lowthers lowered the boom, citing what he sees as an imbalance …

Financial-technology provider Jack Henry & Associates Inc. said it will acquire Payrailz, a provider of digital-payments technology, including real-time peer-to-peer payments capability. Terms of the transaction, which is expected to close by the end of the month, were not disclosed.Payments platform BlueSnap has agreed to support KeyBank’s U.S payments gateway for e-commerce transactions by middle-market …

Merchant acquirers continue to reap the benefits of a bustling economy. Nuvei Corp., a Montreal-based acquirer, said its payments volume increased 38% in the second quarter, and Alpharetta, Ga.-based Priority Technology Holdings Inc. said its bank card processing volume increased 14.3% in the quarter. Nuvei said its payments volume topped …

The upward trajectory of buy now, pay later loans shows no signs of leveling off. By 2027, the number of BNPL users globally is projected to more than double, surpassing 900 million, up from 360 million in 2020, according to Juniper Research. The growth will be driven in part by …

Forage Technology Corp., a payment processor specializing in SNAP EBT acceptance for grocers, said it raised $22 million in Series A funding led by venture capital firm Nyca with participation from PayPal Ventures, EO Ventures, and the founder of Instacart, a grocery delivery provider.Infinicept, an embedded payments specialist, launched Infiniport, its …

State Farm Insurance has expanded its relationship with Fiserv Inc. to enable claims payouts into customers’ PayPal accounts. The agreement expands the capabilities State Farm’s Digital Pay solution, which digitally reviews, approves, and disburses auto and fire claims payments. Consumers can select their preferred payout method, such as sending the …