Digital Transactions Authoritative, insightful and timely information for payments professionals
In short order, competition in the business of funding small merchants has ratcheted up to new highs, with new, online and technology-based entrants flooding the market. One of the most recent, and successful, of these new entrants is Atlanta-based Kabbage Inc., which this year will hit the $500 million mark …
Read More »Mozido Adding More MasterCard Mobile Payments Products
Financial and marketing services company Mozido Inc. says it will use MasterCard Inc. payment and security products to expand its services. Austin, Texas-based Mozido provides mobile payments, loyalty and offers programs to merchants, and has a white-label mobile app. This move means that Mozido products will include MasterPass, MasterCard’s …
Read More »Launched in May, Square Capital Has Advanced $75 Million to 15,000 Square Sellers
Square Inc.’s 6-month-old cash-advance product, Square Capital, has distributed $75 million to some 15,000 small businesses, the San Francisco-based payments company announced via Twitter this week. Further, merchants that have accepted the advances have processed in excess of $1 billion in sales through Square, the company said. It also pointed …
Read More »For the First Time, Consumer Use of Mobile To Buy Physical Goods Exceeds 50%, Report Says
In the past 12 months, 51% of consumers purchased a physical good using a mobile phone, the highest percentage in five years, potentially signaling a greater propensity for consumer adoption of mobile wallets, according to a new report from Javelin Strategy & Research. That is up from 45% in …
Read More »Revel Systems Lines Up $90 Million To Fuel Growth
Tablet-based point-of-sale company Revel Systems says it has secured $90 million in Series C financing, a windfall it will use to keep up with growth for its iPad-based POS systems, the company announced Tuesday. Private equity firm Welsh, Carson, Anderson & Stowe, which has long invested in payments companies, …
Read More »Eye on M&A: JetPay Buys ACI Merchant Systems; Heartland Completes Xpient Acquisition
Payment processor JetPay Corp. on Monday reported that it had acquired ACI Merchant Systems LLC, an independent sales organization that works through financial institutions to provide credit and debit card processing to their small and mid-sized business customers. Meanwhile, the big merchant acquirer Heartland Payment Systems Inc. recently bought Xpient …
Read More »MasterCard To Expand Its DataCash Gateway Services With TNS Acquisition
By Jim Daly MasterCard Inc. announced Thursday that it has a deal to buy gateway businesses from TNS Inc. that will expand the global footprint of its DataCash e-commerce subsidiary. Terms of the deal, which is expected to close by year’s end, were not disclosed. The sale includes two units …
Read More »TSYS Embraces A New Technology Approach Called Surround
Payment processor Total System Services (TSYS) this week says it is embarking on a new approach to technology, one that forms a core component of its business and information technology strategy. Called Surround, the approach is expected to lead to products that have easier integrations, greater flexibility and financial innovation, …
Read More »A New App Uses Facial Recognition and Location To Pay Tips
Tip.ly is a new app that wants to make it easier for patrons to tip their servers. The iPhone-only app is designed to solve the problem of how to leave a tip when a consumer has no cash. Consumers associate a payment card with their Tip.ly accounts. Recipients collect the …
Read More »MCX Chief Davidson Strikes Defiant Tone While Touting Benefits of CurrentC’s Wallet
By John Stewart Merchant Customer Exchange LLC (MCX) has launched its CurrentC mobile-payment service with “thousands” of consumers in “several American cities,” the program’s chief executive said on Wednesday. The “consumers,” employees of retailers that make up the Needham, Mass.-based MCX consortium, are part of a pilot for the fledgling …
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