- American Express Co. announced a global, $200 million Shop Small campaign to support small businesses, many of which have been affected by the Covid-19 pandemic. U.S. AmEx cardholders can get $5 back after they spend $10 or more, up to 10 times, when they buy online or in-store at qualified businesses through Sept. 20. Similar offers already are live in Canada, Australia, and the United Kingdom. AmEx also said it is committing $10 million over four years to fund grants for Black-owned small businesses through a program that includes the U.S. Chamber of Commerce Foundation and several other groups.
- PayPal Holdings Inc. is enabling quick-response (QR) code payments in Canada and is supporting the new service with an offer to waive standard seller fees through Sept. 30.
- Payments gateway provider Cardknox Development Inc. launched UpdateYourCard, a service that lets consumers provide an updated card number and expiration date via a secure form when a card has been declined.
- Factor4 LLC said its gift card and loyalty programs have been integrated with point-of-sale devices from Advanced Mobile Payment Inc.
- WEX Inc., a processor of payments for truck fleets, announced a $400 million investment from an affiliate of Warburg Pincus LLC.
- Juniper Research forecasts the transaction value on virtual cards worldwide will grow from $1.6 trillion to more than $5 trillion by 2025. Virtual cards are temporary, random digits that replace actual card credentials for specific online purchases.
- MoneyGram International Inc. said it will enable cross-border transfers in the United Arab Emirates via eWallet, a product of Digital Financial Services LLC, a joint venture of Etisalat and Noor Bank.
- Veteran payments consultant Theodore Iacobuzio has been named vice president and managing director, research, for Mercator Advisory Group.
- Veteran payments executive Dominic Cirone has joined risk-management firm Midigator LLC as senior vice president of acquirer solutions. Cirone most recently was vice president of chargeback processing at EVO Payments International.
Discover Financial Services reported mixed results Thursday for the fourth quarter of 2020. Despite a …