Tuesday , June 25, 2019

Wells Fargo Debuts Tap-and-Go Cards and other Digital Transactions News briefs from 4/2/19

  • Wells Fargo & Co. has introduced contactless credit and debit cards for point-of-sale transactions. Information on how many cards will be issued was not immediately available. Tapping at ATMs will be introduced nationwide later this year at more than 13,000 machines, the bank said.
  • Advanced Solutions International, a software developer for associations and nonprofit organizations, said it and Global Payments Inc. are launching iMIS Pay Central for users of ASI’s software.
  • Bitcoin, which has been trading for the past four months in a relatively narrow band between $3,200 and $4,100, spiked early Tuesday and briefly traded above $5,000. Its price stood at nearly $4,750 at mid-morning, its highest level since November.
  • American Express Co. said it renewed its cobranded card contract with Delta Air Lines, its largest cobranding merchant partner, through 2029. AmEx issued its first card for Delta in 1996. The Delta cobrand accounted for 8% of AmEx’s worldwide billed business of $1.18 trillion in 2018, according to AmEx’s latest annual report.
  • Nxt-ID Inc. said it will hold a conference call on Thursday in which it will provide an update on its planned spin-off of its Fit Pay payments business.
  • Business-to-business payments provider Bill.com said it will offer Mastercard virtual cards as part of its automated accounts-payable platform for small and medium-size businesses.
  • EVO Payments Inc. plans to sell 5 million shares of common stock in a secondary offering; the merchant processor will use the estimated net proceeds of $139 million to $160 million to buy interests in the company held by Madison Dearborn Partners and Blueapple Inc
  • The Western Union Co. said customers can initiate money transfers on the company’s mobile app or on its Web site and then make payment at Dollar General stores. Dollar General operates more than 15,400 locations in 44 states. Customers can also pick up transfers at the stores.
  • Veridium, a startup that has developed a biometrics-based multifactor authentication platform, said it has been selected for Mastercard Start Path, a program operated by the card network to help late-stage startups gain access to growth capital.
  • Payrailz, a bill-payment and money-transfer services provider for banks and credit unions, announced two executive appointments. Jean Kaye, a veteran of People’s United Bank, was named vice president of project management. Denise Delisle, who comes to the company from BillMo, was named vice president of payment operations.

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