Sunday , May 19, 2019

Shopify Payment Volume Up 65% and other Digital Transactions News briefs from 2/12/19

  • E-commerce and payment-services provider Shopify Inc. said fourth-quarter gross payment volume hit $5.8 billion, up approximately 65% from $2.3 billion a year earlier. The net loss narrowed to $1.5 million versus $3 million in 2017’s fourth quarter.
  • Merchant acquirer Elavon in partnership with American Express Co. unveiled a service intended to simplify acceptance of AmEx cards at public-sector entities such as universities, motor-vehicle departments, utilities, park districts, and others.
  • MoneyGram International Inc. reported total fourth-quarter revenues of $345.8 million, down 15% year-over-year as reported and 14% on a constant-currency basis. The money-transfer provider attributed the decline to de-risking and corridor-specific compliance controls implemented in 2018. Digital services generated 16% of money-transfer revenues.
  • Meta Financial Group Inc.’s MetaBank, a major prepaid card issuer, announced it is using Mastercard Inc.’s Mastercard Send push-payments service for its business clients to distribute funds in near real time.
  • Verification technology provider Jumio Corp. announced a video-selfie-based service called Jumio Authentication that uses biometrics for initial proof of identity and ongoing user authentication.
  • Security and productivity software provider OneSpan Inc. announced its Risk Analytics service aimed at protecting online and mobile channels from account-takeover and new-account fraud.
  • Fleet-fueling and corporate-payments provider WEX Inc. said it will offer payment services to the international travel industry through a partnership with Spain-based Juniper, provider of the Juniper and Cangooroo booking platforms.
  • Risk-control technology provider Giact Systems Inc. released a white paper, “Digital On-Boarding: Safer, Smarter, and More Streamlined.”

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