Friday , November 15, 2019

Repay Acquires TriSource Solutions and other Digital Transactions News briefs from 8/15/19

  • Repay Holdings Inc. announced the acquisition of TriSource Solutions for up to $65 million. TriSource, founded in 2007, provides back-end transaction-processing services to independent sales organizations. TriSource has been Repay’s primary third-party processor for back-end settlement since 2012.
  • The U.S. District Court in Cleveland approved a $4.3 million settlement of a class action filed on behalf of credit and debit card holders whose card information was compromised in a 2017 data breach at 325 Sonic Corp. fast-food restaurants. Sonic estimated the class has about 1.5 million members, according to a press report.
  • The U.S. Payments Forum released its latest Market Snapshot that says 64% of in-store payment terminals are chip enabled and 68% of total transactions are chip-on-chip, meaning a chip card was used at a chip-enabled terminal.
  • Net Element Inc. said it had $950 million in transaction-processing volume in the second quarter, up 8.5% from a year ago.
  • Credit card balances totaled $868 billion in the second quarter, a shade below the record high of $870 billion set in 2018’s fourth quarter, according to the Federal Reserve Bank of New York’s latest household debt and credit report. Before 2018, credit card debt hit a high of $866 billion in 2008’s fourth quarter and bottomed out after the Great Recession at $659 billion in 2014’s first quarter.
  • Southern California’s OneWest Bank said the Zelle person-to-person payments service is now available in its mobile app.
  • Bluefin Payment Systems LLC received from the U.S. Patent and Trademark Office a patent for managing payload decryption via fingerprints.
  • Point-of-sale equipment maker Star Micronics said Cova Software, developer of cannabis retail software, supports its mC-Print3 printers.
  • Coil, a service to enable payments to online content creators, said it received 1 billion in XRP, the Ripple-backed cryptocurrency, from Xpring, Ripple’s investment unit. Coil will use the funds to drive adoption of XRP.

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