Law and Regulation

In a wide-ranging session, American Express Co.’s top brass Tuesday expressed optimism that increasing availability of coronavirus vaccines will soon induce consumers to travel and that the new Biden Administration’s policies are unlikely to have much impact on the New York City-based company’s core business. On an early morning conference …

Nuvei Corp. said a wholly owned subsidiary has been approved to process sports-betting transactions in Tennessee, where sports wagers have been legal since 2019. Previously, Nuvei received approval to process sports betting in Colorado, Indiana, and West Virginia.Point-of-sale system provider Revel Systems said majority owner Welsh, Carson, Anderson & Stowe made another investment …

In a new twist on prepaid cards in Canada, Vancouver-based Peoples Trust Co. is extending eligibility for deposit insurance from the Canadian Deposit Insurance Corp. to general-purpose reloadable prepaid cards and payroll cards issued by the financial institution.  The CDIC ruled in 2020 that prepaid cards can be eligible for …

Payments provide PPRO Financial Ltd. announced a $180-million funding round valuing the company at more than $1 billion.AeroPay, a payments provider specializing in the cannabis industry, said it is working with Blackbird, a cannabis software and delivery company, to process online ordering for cannabis businesses.U.S. payments provider WEX Inc. announced it will process …

As consumers’ comfort level with online sports betting grows, a quick and frictionless payout of winnings will play a key role in their choice of an online gaming vendor, says a study released Thursday by payment-platform provider Paysafe Group. Of the more than 2,000 online-sports bettors surveyed by Paysafe across …

Vanco Payment Solutions Inc., a payments provider specializing in the educational and faith-based sectors, said it acquired SmartcareOS LLC, a software provider for child-care centers. Terms were not announced.Entrust Corp., a provider of technology for identity, payments, and data protection, announced it acquired HyTrust Inc., a vendor of data-encryption, key …

Standards are the prerogative of the International Organization for Standardization (ISO) for most industries around the world. According to ISO, “ISO standards are internationally agreed by experts” and “should be thought of as a formula that describes the best way of doing something.”  Unfortunately, the roles of ISO and its …

Visa Inc. has dropped its year-old, $5.3-billion bid for the data network Plaid Inc. in the wake of an antitrust lawsuit filed by the U.S. Department of Justice. The DoJ feared Visa could use Plaid’s links to financial institutions to stifle competition in the debit market, a contention Visa denied.The big drugstore chain Walgreen …

Social Finance Inc. said it will use the special purpose acquisition tool to become a publicly traded company. Known as SoFi, the company will merge with Social Capital Hedosophia Holdings Corp. V, a SPAC, to enter the public market. SoFi’s equity value is pegged at $8.65 billion in the deal. SoFi, which …

NCR Corp. said it acquired Freshop, a grocery e-commerce services provider. Terms were not disclosed. NCR estimates that buy online, pick up in store shopping will increase 25% per year through 2025.Payment Alliance International said it acquired the ATM portfolio of B & B Music & Video, consisting of 580 company-owned and …