Digital Transactions Authoritative, insightful and timely information for payments professionals
- Payments professionals Joseph Daly and Eric Kellogg announced they formed Argyle Payments LLC, an independent sales organization that will focus on small and midsize merchants in high-margin specialty markets.
- Buy now, pay later provider Klarna AB closed on an $800-million funding round aimed at bolstering its stance in the U.S. market. The round values the company at $6.7 billion, down dramatically from $45.6 billion at a June 2021 funding round.
- Merchants’ losses to online payment fraud will total $343 billion worldwide between 2023 and 2027, according to a forecast from Juniper Research. Driving the losses are account takeovers, which are proliferating despite identity-verification technology, the research firm says.
- Cloud-based financial-services technology provider Computer Services Inc. reported first quarter revenue of $81 million, a 5.6% increase from $76.7 million in the same quarter a year ago. CSI’s fiscal year began March 1. Its net income of $14.7 million was up 2.1% from $14.4 million last year.
- AvidXchange Holdings Inc., which provides accounts payable automation software and payments services, said its application programming interface for enterprise software Acumatica is available that provides a purchase-to-pay process.
- MX Technologies Inc. said Kinly, a neobank catering to Black America, selected it to support Kinly’s custom-built financial tools.
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