Digital Transactions Authoritative, insightful and timely information for payments professionals
Payscout announced it purchased Paywire Inc. for an undisclosed amount. Payscout said it will expand Paywire’s education and health-care payments products to its merchants. Paywire’s tools consolidate payment software systems to reduce the scope of compliance and enhance security, Payscout said. Mobile point-of-sale specialist CardFlight Inc. lined up another distribution …
July, 2018
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20 July
Blockchain Startup MakeCents Tests a Payments Platform It Says Bypasses Networks
With hopes of providing merchants with a lower-cost network to make and accept electronic payments, startup MakeCents announced Friday a test of its blockchain-based platform. New York City-based MakeCents says its decentralized platform is designed to “disrupt the $420 trillion global payments infrastructure by leveraging its blockchain technology to connect …
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20 July
Washlava Expands and other Digital Transactions News briefs from 7/20/18
Washlava, a mobile-payments provider for laundromats, opened its second app-enabled laundromat, in New York City’s Queens borough. Washlava’s first such location opened in 2017 in Tampa, Fla. Payments provider Century Business Solutions announced an integration with Limo Anywhere, a point-of-sale software developer for the livery and limousine industry. Users of …
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19 July
Blockchain Investments To Grow by More Than 70% Annually, Researcher Predicts
Global investment in blockchain technology will double this year compared to 2017, reaching $1.5 billion, according to a new report from International Data Corp. Investment will increase over the next five years at an annual rate of 73.2%, Framingham, Mass.-based IDC forecasts, reaching $11.7 billion in 2022. “Enthusiasm for blockchain …
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19 July
Walmart Shoppers More Likely To Use Apple Pay In Walmart Than Walmart Pay
Walmart Inc. shoppers apparently aren’t as loyal to the giant retailer’s own mobile-payment service as they are to Apple Inc.’s Apple Pay. That’s one takeaway from the latest Mobile Pay Tracker from Auriemma Consulting Group. New York City-based ACG found that Walmart shoppers who use Apple Pay and have a …
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19 July
Fattmerchant Secures $10.5 Million in Funding and other Digital Transactions News briefs
Sundance Payment Solutions launched this month, said president Eric Barth. The company works with independent sales agents to sell a suite of payment-processing services. Payments provider Fattmerchant announced it has closed on a $10.5 million Series C funding round led by Fulcrum Equity Partners. The funding will help launch new …
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18 July
American Express Posts a 10% Gain in Card-Billed Business in the Second Quarter
Fresh from its victory in the U.S. Supreme Court, American Express Co. on Wednesday said card-billed business in the more mature U.S. market and its international markets both grew by 10% in the second quarter. New York City-based AmEx reported a total of $296.5 billion in card-billed business versus $269.6 …
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18 July
To Fight Skimming, a Major Credit Union Servicer Adds a Cardless ATM Program
The days of dipping a card into an ATM to withdraw cash may not be as frequent for even more consumers with the announcement Wednesday that Co-Op Financial Services launched its Cardless Cash Access service. Rancho Cucamonga, Calif.-based Co-Op, a credit-union service organization, says the service can be used on …
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18 July
Merchant Acquiring Contributes to U.S. Bancorp’s Payment Services Gain
U.S. Bancorp’s Payment Services unit posted a 28% gain in net income in the second quarter, in part due to higher merchant-processing volumes. The unit, one of five major divisions at the Minneapolis-based super-regional bank, produced a $361 million profit versus $282 million a year earlier, or 21% of the …
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18 July
Crypto Gets a Boost As Bitcoin Surges And Mastercard Scores a Networking Patent
After weeks of listless trading, Bitcoin has rallied over the past 24 hours, shooting up from the high-$6,000s to the mid-$7,000s in a move that has brought new energy to other leading cryptocurrencies. Coincidentally, Mastercard Inc. on Tuesday was awarded a patent for a system that could allow users of …