Tuesday , May 26, 2020

NACHA Notes 27 Billion ACH Transactions and other Digital Transactions News briefs from 3/29/19

  • NACHA, the regulatory body for the automated clearing house network, reported 27 billion ACH transactions for 2018, including 23 billion on the network and 4.1 billion off-network transactions, including mostly on-us volume.
  • PayPal Holdings Inc. is closing two offices in Hunt Valley, Md., and will lay off their 380 workers in June, the Baltimore Business Journal reported. The offices supported credit operations that PayPal recently sold to Synchrony Financial. Another PayPal office in nearby Timonium, Md., remains open.
  • Security-technology provider Thales announced all conditions related to its offer to acquire payments-technology firm Gemalto have been satisfied or waived and that 85.58% of Gemalto shares have been tendered. Effective April 1, Thales says it will include Gemalto’s results in its financial statements.
  • Cloud-computing firm TokenEx LLC announced it has won a patent on its Transparent Gateway product, which allows clients to share tokenized data, including payment card primary account numbers, with other parties, such as payment-service providers. The U.S Patent and Trademark Office database shows the USPTO has now awarded three patents to TokenEx since January 2017.

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