Tuesday , November 19, 2019

Global Payments Completes TSYS Merger and other Digital Transactions News briefs from 9/18/19

  • Global Payments Inc. completed its $21.5 billion all-stock merger with payment processor Total System Services Inc. (TSYS). The deal cleared its last major hurdle when European Union antitrust regulators said they had no competition concerns, Reuters reported Tuesday. The merged company serves 3.5 million merchant locations and 1,300 financial institutions in more than 100 countries.
  • Credit card issuer Capital One Financial Corp. and Walmart Inc. announced the launch of two Walmart rewards cards, a cobranded Mastercard and a private-label card. The Mastercard gives 5% back on online Walmart purchases and 5% back on in-store purchases using the Walmart Pay mobile-payments service.
  • Tablet-based point-of-sale system provider TouchBistro said it raised C$158 million ($119.3 million) in a Series E funding round led by Omers Growth Equity. TouchBistro plans to use the funds to acquire complementary products.
  • Merchant acquirer Elavon Inc. said it is working with fraud-prevention specialist Featurespace to detect fraud and support customer authentication initiatives in Europe.
  • Bluefin Payment Systems LLC said Destiny Solutions, developer of the Destiny One student lifecycle-management software, will be able to use Bluefin’s point-to-point encryption service.
  • Nacha, the automated clearing house governing body, recognized more than 360 individuals who received the Accredited Payments Risk Professional credential during the first-ever National APRP Recognition Day Tuesday.
  • Research firm Mercator Advisory Group released its “Square and Clover Delivering Merchant Services Beyond Payment Acceptance” report.
  • Vesta, an online fraud-prevention provider, hired Tan Truong as chief information officer. Truong previously worked at SVM LP, a gift and prepaid card services company.

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