- A startup called Prepaid2Cash announced the availability of its app for both iOS and Android. The app allows holders of network-branded prepaid cards to move money from the card to a bank account within three days. The service costs 7.5% plus $1.50.
- Payments provider Pinpoint Intelligence said it now serves high-risk merchants.
- Processor Net Element Inc. said it completed a $7.55 million private placement of restricted common stock and warrants with a New York-based investor that has made several investments in companies with blockchain technology platforms; Net Element will use the proceeds to continue development of its new blockchain unit and support other growth initiatives, including potential acquisitions.
- In related news, Net Element’s stock, which has risen and fallen with the recent gyrations in Bitcoin’s price and its announcement about the new blockchain unit, was up 21% Tuesday morning on the Nasdaq Capital Market.
Alipay, the mobile-payment service used by 600 million consumers, and processor First Data Corp. are …