Digital Transactions Authoritative, insightful and timely information for payments professionals
Observers of the payments industry who wonder how the Federal Reserve’s proposed rate reductions for debit card acceptance might be received by the nation’s biggest processors heard an unequivocal answer early Tuesday from at least one of them. “Any time the cost of acceptance goes down, it’s a positive for …
October, 2023
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30 October
Eye on POS: Nayax Acquires Retail Pro; Lightspeed Expands Price Matching Globally
Two point-of-sale companies have separately taken steps to boost their competitiveness, one with an acquisition and the other in a marketing expansion. Payments platform Nayax Ltd. says it will acquire Folsom, Calif.-based Retail Pro International in a $36.5-million deal. Expected to close in the fourth quarter, the deal will expand …
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27 October
European Processors Take Stock Hit And Other Digital Transactions News briefs from 10/27/23
European transaction processors are getting hammered by slowing economies and increased regulatory scrutiny. Shares in the big French processor Worldline slid 59% on Wednesday, followed by a feeble recovery Thursday. AppTech Payments Corp. announced it has closed on its acquisition of Alliance Partners LLC. The deal brings to AppTech FinZeo, Alliance’s money-movement software …
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26 October
Mastercard Revenue up 12% And Other Digital Transactions News briefs from 10/26/23
Mastercard Inc. posted strong third-quarter results of $6.5 billion in revenue, up 12% from $5.8 billion in the 2022 third quarter. The card giant’s net income of $3.2 billion increased 28% from $2.5 billion in the year-ago quarter. Mastercard cited cross-border payment volume growth of 21% in the quarter as one …
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19 October
Expect Real-Time Payments Bloom And Other Digital Transactions News briefs from 10/19/23
Ninety-nine percent of large enterprises—those with annual revenue of $1 billion to $9.9 billion—expect to send real-time payments in the next five years, found the 2023 AFP Real-Time Payments Survey released by the Association for Financial Professionals and sponsored by The Clearing House Payments Co. LLC. It also found that 77% of …
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16 October
AppTech To Acquire Alliance Partners And Other Digital Transactions News briefs from 10/16/23
AppTech Payments Corp., a specialist in business-to-business and business-to-consumer payments, has agreed to acquire Alliance Partners LLC and its FinZeo money-movement software. With the deal, expected to close Oct. 31, AppTech will become a payment facilitator, a company that allows merchants to accept payments on the company’s merchant account. Terms …
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13 October
How NMI’s Deal for Sphere’s Commercial Division Will Ease New Merchant Accounts
Payments provider NMI LLC announced Thursday it has acquired the commercial division of Sphere, a cloud-based software and payments-technology company. Sphere Commercial Division primarily serves non-integrated small and mid-size businesses. Terms of the deal were not disclosed. Schaumburg, Ill.-based NMI says the acquisition will strengthen its underwriting and risk-management capabilities …
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12 October
An Acquisitive Celero Closes on Its 10th Deal, This Time for Finical Holdings
Celero Commerce announced late Wednesday it has acquired Finical Holdings LLC for an undisclosed sum. The acquisition, which is the tenth Celero has made since its launch in late 2018, will increase the company’s annual card processing volume to $25 billion and enlarge its presence in the Southwestern U.S. market, …
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3 October
SpotOn Retreats From Stadiums to Focus on the Restaurant POS Market
Count one less competitor in the market for advanced point-of-sale technology at stadiums. Shift4 Payments Inc. has agreed to buy SpotOn Transact Inc.’s sports and entertainment business for $100 million in a move that beefs up Shift4’s position in the burgeoning stadium market and marks a retreat by SpotOn from …
September, 2023
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5 September
Mastercard Denies Rate Bump Assertion And Other Digital Transactions News briefs from 9/5/23
Mastercard Inc. denies an assertion it intends to raise interchange rates in October following an Aug. 30th story in The Wall Street Journal about interchange rate adjustments expected from Mastercard and Visa Inc. in October and April. Mastercard said the article relied on a report from an advisory firm that is advocating for legislation that …