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- WEX Inc., a processor in the fleet-fueling and corporate transaction market, said it has agreed to acquire eNett, a business-to-business payments software company specializing in the travel market, and Optal, a specialist provider of B2B transactions, for approximately $1.275 billion in cash and approximately 2 million shares of WEX common stock. The deal is expected to close by mid-year.
- Fourth-quarter net earnings fell 6.6% to $731 million for Synchrony Financial while purchase volume remained flat at $40.2 billion, the proprietary and cobranded card issuer announced. It added that net interest income fell 7% to $4 billion as the sale of its Walmart Inc. consumer portfolio offset loan receivables growth.
- Digital personal-finance company Social Finance Inc. (SoFi) and Mastercard Inc. announced a deal in which Mastercard will serve at the exclusive network for the SoFi Money debit card and for an upcoming SoFi credit card. Mastercard is replacing Visa as SoFi’s card brand.
- Merchant processor Pineapple Payments Opco LLC said it will process payments for OntoGolf, a provider of ball-management and lesson-management software for golf courses and ranges.
- The software-industry trade group BSA | The Software Alliance launched the Global Data Alliance, a cross-industry coalition of companies that say they are committed to high standards of data responsibility and rely on the ability to transfer data around the world to innovate and create jobs. GDA members include BSA members and American Express, Amgen, AT&T, Cisco, Mastercard, Panasonic, United Airlines, Verizon, Visa, and WD-40 Co.
- Fidelity National Information Services Inc. (FIS) announced it is providing processing for e-commerce transactions in Africa through its Worldpay unit. FIS, which acquired Worldpay last year, says the continent has 400 million online users.
- Integrated-payments provider Paya Inc. said its software has been recognized as an Acumatica-Certified Application. Acumatica is a vendor of cloud-based business-management software.
- Virgin Pure, an online seller of water dispensers, saw a 78% increase in checkout conversion and a 10% reduction in cart abandonment through Splitit, a point-of-sale installment-credit provider, according to results announced by Splitit.
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