Sunday , May 19, 2019

Square Closes Weebly Deal and other Digital Transactions News briefs from 6/1/18

  • Square Inc. updated its second-quarter and full-year guidance following its acquisition of e-commerce site provider Weebly Inc., which closed Friday. Square now expects its full-year revenue to range from $3.03 billion to $3.09 billion, up from $3 billion to $3.06 billion. For the second quarter, it forecasts $744 million to $764 million in revenue, up from $740 million to $760 million.
  • PayPal Holdings Inc. said it and Temasek, a Singapore-based investment firm, purchased minority stakes valued at $125 million in Pine Labs, a digital retail-payments platform in India.
  • Defense, aerospace, and transportation contractor Thales S.A. announced it extended the review period to Aug. 15 for its acquisition of smart card maker Gemalto. Thales expects to complete the deal in the second half of 2018.
  • The Electronic Transactions Association, along with the Innovative Lending Platform Association and the Small Business Finance Association, released “The Economic Benefits of Online Lending to Small Businesses and the U.S. Economy,” a report that found the average amount borrowed by a merchant is $55,498.
  • Convenience-store operator Cumberland Farms Inc. launched a promotion through Aug. 31 for users of its automated clearing house-based SmartPay app with a grand prize of free gasoline for a year.
  • National Gift Card Corp. developed a proprietary Print Software Tool that eases the production process for custom gift card carriers.

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