Fifth Third Closes on Big Data Deal And Other Digital Transactions News briefs from 5/15/23

Fifth Third Bancorp said it has closed on its acquisition of Big Data LLC, a technology platform for health-care payments. Terms were not disclosed
Mark Barnett, president of Mastercard Inc. for Europe, said card interchange “represents incredibly good value” with respect to “sharing the costs and benefits of the payment system.” The remarks came after a U.K. group representing merchants warned of a “startling rise in the cost of accepting cards” as the country’s Payment Systems Regulator conducts an inquiry into network fees.
The worldwide business-to-business payments market, both domestic and cross-border, will reach $1.92 trillion by 2028, up from $870.4 billion in 2020, according to Allied Market Research, a 10.6% annual growth rate.

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