- The number of Apple Pay users globally increased an estimated 104.8% in a year, from 62 million in 2016 to 127 million in 2017, Loup Ventures, a research-driven venture-capital firm, said. Only an estimated 16% of global iPhone users have activated Apple Pay, the firm said, which added that it is optimistic Apple Pay will gain widespread adoption over the next three to five years.
- Fit Pay Inc. has started taking pre-orders for Flip, a coin-shaped device that lets users convert cryptocurrency to dollars and make contactless purchases with near-field communication links. The retail price is $29, exclusive of account and exchange fees. Deliveries are expected to start in the second quarter. Fit Pay is a unit of NXT-ID Inc., an authentication-technology vendor.
- Visa Inc. announced an initiative it is pursuing with Filene Research Institute to outline “talent gaps” in the credit union industry and introduce educational programs intended to foster potential credit union leaders.
- Worldpay Inc., the company formed by the merger of Vantiv Inc. and Worldpay plc, introduced DataEdge for Financial Institutions to bring analytics to FIs on their credit and debit card portfolios.
- Health-care payments processor PatientPay has collaborated with The SSI Group, a specialist in revenue-cycle management, to create a single platform for patient payments and collections.
- Prepaid card issuer and manager Green Dot Corp. reported purchase volume of $5.65 billion in the fourth quarter, up 41% from $4.01 billion a year earlier. Active cards totaled 5.26 million, a 28% increase from 4.13 million in 2016’s fourth quarter.
- Puerto Rico-based payment processor Evertec Inc. posted revenues of $99.6 million in the fourth quarter, down 2% from a year earlier. The company attributed the decrease mainly to reduced processing volumes following last September’s hurricanes. Net income fell 64% to $5.8 million.
- ATM manufacturer Diebold Nixdorf Inc. named Gerrard Schmid as its new president and CEO, succeeding Andreas “Andy” W. Mattes, who left the company in December. Schmid is the former CEO of Canadian payments and financial software developer DH Corp., now part of U.K.-based Misys.
- Processor and financial-technology provider Fiserv Inc. appointed Harry F. DiSimone, a former JPMorgan Chase & Co. executive, to its board of directors.
When we think about artificial intelligence (AI) and machine learning, the first image that comes …