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- Visa Inc. and PayPal Holdings Inc. have extended to Canada an agreement they made in 2016 that gives PayPal access to Visa’s tokenization engine in return for promoting Visa products for PayPal account funding.
- In related news, Visa said it is expanding its Visa Direct service in Canada, with processor Peoples Payment Solutions and its partner Telus Health and Payment Solutions using the faster-payments platform for health-care disbursements into patients’ Visa debit card accounts.
- Payments-technology firm Rambus Inc. introduced a product called Payment Account Tokenization, which allows financial institutions to substitute tokens for account numbers for automated clearing house and faster-payments transfers.
- Commerce platform Shopify Inc. released its Tap & Chip Reader for merchants. It also updated the Shopify POS with support for in-store pickup, tipping options, and a companion app for customer-facing checkouts.
- Shares of marketing services provider Cardlytics Inc. jumped 29% Tuesday in the wake of news that JPMorgan Chase & Co. signed a seven-year agreement to use the company’s primary product, Cardlytics Direct.
- On Track Innovations Ltd., a vendor of contactless-payment capability for unattended points of sale, reported a 46% year-over-year increase in first-quarter revenue to $5.9 million. The company cut its net loss to $333,000 compared to $865,000 a year earlier.
- Wire-service provider MoneyGram International Inc. said revenue from its moneygram.com operations grew 21% in the first quarter, primarily from new customer acquisitions, and represented 16% of total money-transfer revenue. Total revenues declined 2%, 5% on a constant-currency basis, year-over-year to $380 million.
- VeriFone Systems Inc. struck an agreement with Spot On Transact LLC to make available its Carbon point-of-sale devices with Spot On’s marketing software for small and medium-size businesses. The devices will also feature Connect, VeriFone’s business-management applications.
- Digital-engagement platform Urban Airship said it now supports Google Pay tickets. The service enables real-time updates and other updates to compatible Android devices.
- David Marcus, who runs Facebook Inc.’s stand alone Messenger messaging app and is the former president of PayPal, is taking a new post at the social network in which he will oversee a team working on blockchain initiatives, Recode reported.
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