- Canadian pension-fund manager Caisse de depot et placement du Quebec and private-equity firm Novacap said they would invest in Quebec-based Pivotal Payments, valuing the merchant processor at about C$525 million ($424 million), Pivotal Payments announced.
- Processor First Data Corp. introduced its “Disburse-to-Debit” service that pushes funds across debit networks so that businesses can make real-time payments to debit cards held by temporary employees, ride-sharing drivers, insurance claimants, refund recipients, and others. The system also works through prepaid services such as First Data’s Money Network.
- GK Software launched several new features for its transaction-processing system, TransAction+. These include processing on mobile point-of-sale devices, pay-at-table functionality, and support for PINless debit.
- In an updated investor presentation, The Bancorp Inc., parent company of The Bancorp Bank, said it has issued 99 million prepaid cards.
- Total System Services Inc. (TSYS) said it signed a multi-year, multi-country deal with Scotiabank to provide issuing and acquiring processing services from its Latin American data center in Brazil.
Payments gurus for years have touted benefits like faster transactions, improved security, and associated rewards …