Saturday , July 20, 2019

Sterling Card Acquired and other Digital Transactions News briefs from 6/11/19

  • Private-equity firm Acuity Capital Partners LLC acquired specialty gift card manufacturer Sterling Card Solutions, according to Sterling’s financial advisor, the investment bank Capstone Headwaters. Terms of the deal were not disclosed. Besides gift cards, Sterling makes hotel key cards, identification cards, phone cards, and other products.
  • Half the world’s population, or 4 billion people, will be using digital wallets by 2024, up from 2.3 billion in 2019, pushing transaction value up by greater than 80% to more than $9 trillion, according to Juniper Research.
  • EVO Payments Inc. announced an integration with Vend, a cloud-based point-of-sale system provider.
  • Brex, a startup providing corporate cards tailored for specific business verticals, announced the close of a $100 million investment round led by Kleiner Perkins Digital Growth Fund.
  • Payments-software startup SpotOn Transact LLC announced a $40 million funding round led by Franklin Templeton.
  • Stored-valued payments provider Lazlo 326 received a patent for its Crypto Imaging technology that enables stored-value payment instruments to be embedded in videos, memes or GIFs; shared via text or messaging app; and redeemed in stores or online.
  • Blockchain provider Ripple Labs announced it is launching operations in Brazil.
  • Prepaid card program manager InComm said it launched a service for luxury-travel retailer DFS allowing customers in Japan to pay by scanning a barcode on their phones

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