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CardX Raises $2 Million and other Digital Transactions News briefs from 8/27/19

  • CardX LLC, which specializes in credit-card surcharging programs, said it secured $2 million in funding through Pace Financial Group. This brings CardX’s total capital raised to date to $8.62 million.
  • Payments-automation provider AvidXchange agreed to acquire BankTEL Systems, which offers accounting technology to banks. With the deal, BankTEL will link clients to AvidXchange’s AvidPay network for accounts-payable processing, while AvidXchange clients will receive accounting offerings from BankTEL. Terms were not announced.
  • International payments provider SnapPay Inc. announced it is enabling merchants in North America to accept the Chinese mobile wallets Alipay and WeChat Pay.
  • A study from MetaBank indicates consumers now prefer alternative payments rather than checks for disbursements of rebates, refunds, credits, insurance benefits, and tax refunds. The study is entitled “Faster Payments: What Consumers Want from Businesses in 2019.”

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