Thursday , February 27, 2020

Jim Daly

Jim Daly joined Digital Transactions in 2006 after covering payments and merchant acquiring at Thomson Media’s Credit Card Management, Credit Card News, and CardLine publications. Before that, he was a reporter and editor at the daily Leader-Telegram in Eau Claire, Wis.

More Details About FedNow Expected in Coming Months

The release date for the Federal Reserve’s planned FedNow real-time payments service is still three or four years off, but more details about its features will be released in the coming months, according to a Federal Reserve official. “This year we do plan to make an announcement based on … …

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The Clearing House Payments Co. And 11 Banks Take Stakes in an Access-Protection Firm

FMR LLC, the parent company of Fidelity Investments, the big mutual-fund and asset-management firm, this week spun off Akoya LLC, a tech company that recently launched an account-access protection network. Akoya is now co-owned by FMR, The Clearing House Payments Co., and 11 of TCH’s member banks, a development expected …

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Cardtronics Eyes Deposit-Taking ATMs and Surcharge-Free and Branding Deals for Growth

Thanks mainly to strong results in North America, leading non-bank ATM network owner Cardtronics plc saw fourth-quarter revenues rise, and in 2020 is seeking new growth from more partnerships with banks and fintechs and the deployment of deposit-taking ATMs. Houston-based Cardtronics now has nearly 1,000 deposit-taking and cash-accepting ATMs in …

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USA Technologies Eyes Growth in Software-Based Services And Expansion Into Japan

While playing defense in a proxy war with the company’s largest shareholder, vending-machine payments provider USA Technologies Inc.’s top executives are looking for growth through software-based services, and expansion into adjacent markets and other countries, particularly Japan.  “Our go-to-market strategy is to advance our sales efforts as an integrated software …

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Survey: Americans Have $21 Billion in Unused Gift Card Balances

All those unredeemed gift cards in people’s drawers and on dresser tops are adding up. New research from Bankrate LLC estimates the total value of Americans’ unredeemed gift cards and leftover store credits at $21 billion. Bankrate says its survey, the firm’s first of its kind, found the average adult …

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Restaurant POS Systems and Payments Provider Toast Raises $400 Million in Expansion Drive

Toast Inc., a software, point-of-sale hardware, and payments provider for restaurants, has raised $400 million in another funding round. The Boston-based firm introduced its first POS device in the spring of 2018, and among its services it acts as a payment facilitator for restaurants. The company says revenue increased 109% in …

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Checks’ Last Bastions Include Older Consumers, Businesses, and Bill Payments

The decline of checks over recent decades is a well-known story, but there were still 14.5 billion check payments in 2018, according to Federal Reserve research. So just who’s still writing checks, and for what kinds of payments? “All things being equal, older, low-income, non-minority group members are more likely …

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WEX’s Benefits and Corporate-Services Units Growing Faster Than Fleet Services

Best known for its big fleet-fueling card business, WEX Inc. lately is getting stronger growth from its two other segments, health-care and employee benefits and corporate and travel services. WEX reported Thursday that total fourth-quarter purchase volume grew 8.4% to $20.1 billion from $18.5 billion a year earlier. Portland, Maine-based …

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Repay Expands Its Footprint with Ventanex Acquisition

Payment-services provider Repay Holdings Corp. continued its run of acquisitions Monday when it announced it bought Ventanex for up to $50 million. Ventanex is an integrated-payments provider operating in consumer finance, especially mortgage-loan servicing, business-to-business health-care payments, and some other segments. Founded in 2012 and based in the Dallas suburb …

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Brink’s Makes a Significant Investment in MoneyGram

MoneyGram International Inc. is proving adept at attracting diverse investors. Cash-management provider The Brink’s Co. announced Thursday that it has invested $9 million in MoneyGram stock for a 4.95% stake in the company. The Brink’s investment comes in the wake of the $50 million Ripple Labs Inc., developer of the …

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