Digital Transactions Authoritative, insightful and timely information for payments professionals
While the recent partnership between fintech Wise US Inc., which specializes in cross-border payments, and Plaid Inc. is another example of the momentum open banking is gaining globally, one overlooked element of the deal is the role the open-banking standard developed by the Financial Data Exchange played in making the …
August, 2022
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12 August
With New Funding, Central Payments Is Spun Out and other Digital Transactions News briefs from 8/12/22
Central Payments, a unit of Central Bank of Kansas City, completed a $30 million funding round, which was led by Castle Creek Capital and with more investment from Launchpad Capital. The funding spins the company out from Central Bank.PayGround, a digital wallet for medical bills, launched a “get healthy now, pay …
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11 August
COMMENTARY: The Strange Compatibility of Human Connection And QR Codes
At the end of 2021, comedian Grace Mulvey brought smiles to many on Twitter when she reflected on the unexpected rise of a technology that was laughed off by many. “I can’t think of anyone who has had a better year than the QR code. What a comeback.” While our …
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11 August
BitPay Launches a Rewards Program for Its Crypto-Based Prepaid Card
The drive to encourage consumers to use cryptocurrency to pay for transactions at the point-of-sale shifted into a higher gear Wednesday as BitPay Inc. announced the launch of a cash-back rewards program for its prepaid card. Cardholders, who will be automatically enrolled in the rewards program, can earn up to …
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11 August
Marqeta Posts Big Numbers As Gardner Says He’s Moving Out of His CEO Role
The card-issuing platform Marqeta Inc. on Wednesday reported processing volume of $40 billion for the June quarter, a 53% increase over the same time last year, but the 12-year-old company also announced its founding chief executive is leaving that position. Jason Gardner, a well-known payments entrepreneur, said he will move …
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11 August
Finix Raises $30 Million And Other Digital Transactions News briefs from 8/11/22
Finix, a payments provider for software platforms, raised $30 million in its latest funding round, bringing its total funding to $133 million. American Express was among investors.Unit, whose technology allows firms to weave accounts, payments, cards, and other banking services into their products, said it has partnered with Thread Bank, a …
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10 August
Bank-Transfer Specialist Sionic Is Set to Launch a Reseller Program
Sionic Mobile Corp., a provider of consumer-to-business payments technology, will launch a program that enables independent sales organizations, agents, independent software vendors and other resellers to provide merchant clients with a new Pay-by-Bank service in the United States. The program, which will launch Sept. 1, is intended to help resellers …
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10 August
Ninety Days Into the Role, Paysafe’s New CEO Has Tough Love for His New Company
Bruce Lowthers took over a stumbling Paysafe Ltd. back in May, and now with three months evaluating the company behind him, the new chief executive early Wednesday offered encouragement mixed with some tough talk. Speaking particularly about product innovation, Lowthers lowered the boom, citing what he sees as an imbalance …
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10 August
Jack Henry Snaps up Payrailz And Other Digital Transactions News briefs from 8/10/22
Financial-technology provider Jack Henry & Associates Inc. said it will acquire Payrailz, a provider of digital-payments technology, including real-time peer-to-peer payments capability. Terms of the transaction, which is expected to close by the end of the month, were not disclosed.Payments platform BlueSnap has agreed to support KeyBank’s U.S payments gateway for e-commerce transactions by middle-market …
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9 August
Cashless And Contactless Sales in Unattended Retail Post Robust Gains
Cashless sales in unattended retail locations, such as vending machine and kiosks, jumped significantly in 2021, totaling 62% of sales in October 2021, up from 51% in January 2020, says a report from vending-machine specialist Cantaloupe Inc. As a result of the rise in cashless sales, the percentage of cash …
