- Mastercard Inc. said it is purchasing Ethoca Inc., a fraud-mitigation firm, for an undisclosed amount. The deal is expected to close in the second quarter. Ethoca works with more than 5,000 merchants and 4,000 financial institutions. Mastercard intends to expand Ethoca’s capabilities and combine the company with its current security efforts, data insights, and artificial-intelligence services. Ethoca was founded in 2005.
- Processor First Data Corp. said it plans to acquire Software Express, a Brazilian provider of electronic funds transfer applications, a payments gateway, recurring payments, and other services for 100,000 merchants. Terms of the deal were not disclosed. With Software Express and its existing services in Brazil, First Data expects to process 15 billion transactions in Latin America’s biggest country this year.
- Prepaid card and payment-services provider InComm said it acquired Linq3 Technologies, a systems integrator and technology provider for the lottery industry. InComm said the acquisition, terms of which were not disclosed, will enable it to offer retailers an enhanced menu of state-lottery services at the point of sale
- Point-of-sale equipment maker PAX Technology Inc. said its A920 Android-based payment terminals will be available to U.S. merchants and will use the SecureTablePay software from Posera Ltd. The software enables pay at the table.
- NACHA, the automated clearing house governing body, noted a record 100 million ACH payments made per banking day in February. Total network volume that month surpassed 1.9 billion payments.
- Jack Henry & Associates Inc. announced that it is actively onboarding clients with the Zelle network to launch JHA PayCenter, its hub that provides financial institutions with a single integration to faster-payments networks, including Zelle and the RTP network from The Clearing House.
- Professional-services company Cognizant said it developed an app for fast-food chain Jack in the Box that enables consumers to place orders in advance and pay using their mobile phones.
- Data-security provider ControlScan Inc. and the Merchant Acquirers’ Committee released their 2019 ControlScan/MAC SMB Payment Security Survey that found 89% of small businesses believe their companies are at little to no risk of being breached.
- Fewer than 1% of fans attending the Atlanta United soccer game Sunday at Atlanta’s newly-cashless Mercedes-Benz Stadium used cash-accepting kiosks that dispense Visa prepaid cards usable at the stadium’s food and merchandise vendors, the Atlanta Business Chronicle reported.
- Unattended-payments specialist PayRange Inc. said more than 100 million mobile-payment transactions have been completed on its platform.
- As part of the launch of its Chipotle Rewards program, fast-casual restaurant chain Chipotle Mexican Grill said it will give about 25,000 customers per day between Tuesday and Friday the chance to receive anywhere between $1 and $500 if they submit a phone number associated with their Venmo person-to-person payments account.
The Federal Reserve announced the 22 members of its new Fraud Definitions Work Group, another …