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- JPMorgan Chase & Co. reported its merchant-acquiring subsidiary processed $371.6 billion in payments in the second quarter, a 12% increase from a year earlier. On the issuing side, the massive banking firm reported $281.5 billion in second-quarter credit and debit card sales volume, up 10%.
- Wells Fargo & Co. reported $93.2 billion in point-of-sale purchase volume on its debit cards in the second quarter, up 6% year-over-year. General-purpose credit card POS purchase volume also rose 6%, to $20.4 billion. Consumer and small-business digital-payment transactions increased 8% year-over-year to 145.8 million.
- The big processor Global Payments Inc. announced that on July 9 it closed on a $2 billion senior unsecured term loan and a $3 billion unsecured revolving credit facility. Both transactions are related to the company’s previously announced $21.5 billion deal to acquire rival processor Total System Services Inc.
- Infinicept, a payment-facilitator services provider, said it has helped more than 200 entities with their payment-facilitator services since its 2012 launch. It also participates in Start Path, a six-month program from Mastercard Inc. that connects later-stage startups to Mastercard’s global ecosystem.
- Finix Payments Inc., a startup that provides a payment-facilitator platform, announced a $17.5 million Series A funding round led by Bain Capital Ventures with participation from Visa Inc., two other venture-capital firms, and existing investors.
- The U.S. Payments Forum released its “EMV Payment Tokenization Primer and Lessons Learned” white paper.
- Prepaid card program manager InComm said it is working with benefit-management provider NationsOTC to provide more shopping options to NationsOTC benefit and wellness incentive cardholders.
- Ondot Systems Inc. said it now offers cloud integration of its card control and alert services.
- Payments provider Credorax said it is working with Cisco to upgrade its data center’s capabilities, including capacity and latency.
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