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Big Secondary Offering of First Data Shares and other Digital Transactions News briefs
September 12, 2017

• Venmo, the peer-to-peer payment service owned by PayPal Holdings Inc., is testing a physical Visa debit card, with invitations going out to select Venmo users, according to TechCrunch. The test follows the launch in June of a Visa debit card by PayPal and Venmo rival Square Inc.

• Processor First Data Corp. said New Omaha Holdings L.P., an affiliate of First Data majority shareholder Kohlberg Kravis Roberts & Co. L.P. (KKR), is planning a secondary stock offering of 85 million First Data common shares. New Omaha Holdings will receive all proceeds from the offering, which would raise nearly $1.55 billion before underwriting expenses at First Data's share price of about $18.20 Tuesday morning. Underwriters have an option to buy an additional 12.75 million First Data shares.

• In anticipation of self-driving cars and car-sharing, automotive-technology firm ZF, banking firm UBS, and IBM Corp. are collaborating on an autonomous agent called Car eWallet that will make payments to parking garages, electric-charging stations, and other suppliers and service providers while users are on the go. The agent relies on blockchain technology from IBM.

• CardFlight, a provider of mobile point-of-sale readers, said merchant processor Merchant e-Solutions will offer to its merchants CardFlight's SwipeSimple solution, which allows merchants to accept EMV cards on mobile devices.

• Bank of Ireland Global Markets said it is working with WorldFirst, a fintech provider of cross-border payments and foreign exchange, to launch Bank of Ireland Global Payments, which will offer U.S. businesses an opportunity to make international payments with no transfer fees.

• Point & Pay, which builds payment systems for governments and utilities, has teamed with Court Innovations, a developer of dispute-resolution software, to allow citizens to resolve disputes and make any needed payments without making an appearance in court.

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