Transaction Processing

Galileo Financial Technologies, a 19-year-old developer of application programming interfaces for payments, announced a $77 million institutional funding round led by venture-capital firm Accel.Flowhub Holdings Inc., provider of a management platform for cannabis retailers, announced a Series A funding round whose participants included Iqram Magdon-Ismail, the co-founder and former CEO …

Two senior Federal Reserve officials said Tuesday they are committed to rolling out the proposed FedNow real-time payments service as quickly as possible, but they didn’t say the original schedule calling for a launch in 2023 or even 2024 will be shortened. “We will be making every effort, I think, to …

With same-day transaction growth sizzling, the automated clearing house network overall notched another quarter of robust growth. The system logged 6.2 billion transactions in the quarter ended Sept. 30, up 9.5% over the third quarter of 2018, according to figures released Tuesday by Nacha, the network’s governing body. Total payment …

Days after launching services that allow users to make international remittances and use a virtual prepaid card for payments, Samsung Electronics Co. launched Samsung POS, an app that it says will let merchants accept near-field communication payments on their mobile devices. Developed with payments-technology firm Mobeewave, Samsung POS is aimed at micro-merchants and other small …

The honeymoon is over between vending-machine payments provider USA Technologies Inc. and its largest investor, which on Monday accused the company’s board of directors of “value-destructive conduct” and blasted its top brass for “lack of management qualifications or accountability.” The surly announcement by New York City-based hedge fund Hudson Executive …

Cubic Corp.’s Cubic Transportation Systems unit agreed to integrate contactless transit cards with Alphabet Inc.’s Google Pay mobile-payments app. The integration will begin with contactless payment systems for transit in London, Miami, and New York.BMW, General Motors, Ford, Renault, and Honda will reportedly begin testing a blockchain-based in-car identification and payment system next month …

Payments companies drove merger-and-acquisition activity in the financial-technology sector in 2019’s first nine months, according to a new analysis. Payments firms were involved in four of the top 10 deals tracked by New York City-based investment bank Berkery Noyes Securities LLC. The value of the payments mergers totaled $94.1 billion, …

Facebook Inc. and its proposed Libra cryptocurrency may have stolen the headlines lately, but in the background companies are working to make cryptocurrency like Bitcoin easier to buy and sell by deploying specialized kiosks and simplifying what can seem to outsiders a quite abstruse payment process. One of the most …

Payments provider Fattmerchant launched an online-reviews integration feature, which provides merchants the ability to view and respond to reviews, such as those on Google, within the Fattmerchant platform.Aiming at hourly workers, a startup called Branch launched a free digital checking account and a debit card through Evolve Bank & Trust and Mastercard Inc.Cybersecurity firm GM …

Rabble Wine Co. said it now accepts more than 40 cryptocurrencies on its Web site and in its tasting room via an integration with CoinPayments Inc.Consumer revolving credit contracted by 2.2% in August on a seasonally adjusted annualized basis following July’s 10.5% increase, the Federal Reserve reported. The Fed estimated revolving credit outstandings, …