Wednesday , September 23, 2020

Acquiring

Clearent Acquires Wintac and other Digital Transactions News briefs from 9/23/20

Clearent LLC announced the acquisition of Wintac, a software developer for the residential contractor industry. Wintac will become part of FieldEdge, a Clearent subsidiary. Terms were not disclosed.Payments provider Priority Technology Holdings Inc. has completed a previously announced sale of its RentPayment business to real-estate technology provider MRI Software. Priority will continue to …

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Priority Teams With Behalf on a Merchant Financing Option

Priority Technology Holdings and its Priority Payments Systems and Priority Commercial Payments units are working with business-to-business credit provider Behalf Inc. to allow Priority clients to finance purchases at checkout through Behalf rather than through cash, check, or credit card. The move comes as many small businesses continue to contend with …

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POS Credit To Grow 92% and other Digital Transactions News briefs from 9/22/20

Online purchases using installment credit will total $680 billion globally in 2025, up 92% from $353 billion last year, projects Kaleido Intelligence.In related news, point-of-sale installment lender Laybuy launched a partner program to help smaller retailers offer the credit. More than 6,000 merchants offer Laybuy.MetaBank N.A., a unit of Meta Financial Group Inc., …

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Paya Expands Its Government Unit With an Acquisition of The Payment Group

Payments provider Paya Inc. has signed an agreement to acquire The Payment Group (TPG), a provider of integrated payments to utilities and government. TPG’s software allows consumers to digitally pay their court and utility bills. Terms of the deal, which is expected to close in October, were not disclosed. As …

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Visa SMB Support Campaign Begins and other Digital Transactions News briefs from 9/21/20

As small businesses prepare for the holiday shopping season in the midst of the coronavirus pandemic, Visa Inc. announced it is launching programs and resources to support their efforts, including so-called Visa Street Teams that visit stores to provide point-of-sale materials to support contactless payments.In related news, Visa said 60% of U.S. …

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EVO’s Turn to Visa Direct Casts a Spotlight on the Potential for Real-Time Merchant Settlement

Real-time payment flows are coming to processor settlements with merchants as Visa Inc. enlarges the market for its Visa Direct push-payment service. The latest development emerged this week with EVO Payments Inc.’s launch of EVO Direct Deposit, a service that relies on Visa Direct to credit U.S. merchant accounts. The …

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Affirms Cements $500 Million Funding Round and other Digital Transactions News briefs from 9/18/20

Point-of-sale credit provider Affirm Inc. said it raised $500 million in a series G funding round. Lead investors were GIC and Durable Capital Partners LP. Affirm also introduced an interest-free biweekly payment product for transactions of as little as $50. It also announced that NutriBullet, a small-appliance maker, offers Affirm as a payment …

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In the Midst of the Pandemic, Fintechs Launch Services to Speed Wages to Workers

As workers struggle with cash-flow issues that in some cases were worsened by the coronavirus pandemic, banks and fintechs are working to get wages into employees’ hands faster—sometimes in real time. Two such developments emerged this week from Square Inc. and Immediate Solutions Inc., a company that specializes in speeding …

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Avon Calls on Apexx for Processing and other Digital Transactions News briefs from 9/16/20

Beauty-products marketer Avon International has recruited payments provider Apexx Global to process consumer payments to Avon representatives across global markets. Apexx supports credit and debit cards, PayPal, Apple Pay, and Android Pay as well as local payment methods.As the holiday shopping season nears, 39% of merchants surveyed by PayPal Holdings Inc. plan to sell …

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Attack Rates Have Dropped, But New Account Creation Fraud Persists, Report Finds

Human-initiated cybercrime attacks in the United States and Canada decreased 6% in the first half of 2020 compared to the same period in 2019, finds the biannual Cybercrime Report from LexisNexis Risk Solutions. Even automated bot attacks dipped—by 0.3%—in the period. But, as with all things related to online fraud, …

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