Digital Currency

Blockchain-based business-to-business payments platform Paystand Inc. reported its service now supports 140,000 businesses, up 40% year-over-year, including 150 new enterprise clients. It also said its revenue has grown 1007% over the past three years.Cryptocurrency provider PayFBit announced it is organizing an initial coin offering to help fund the company, which offers a wallet, peer-to-peer …

Payments providers Fortis Payment Systems LLC and Blue Dog Business Services LLC announced they have merged. Terms of the transaction were not disclosed.ATM portfolio manager Payment Alliance International Inc. said it has acquired the Cash-N-Go ATM portfolio of Cash N Go ATM Network Inc. The deal adds almost 400 machines to Payment Alliance’s portfolio, …

Consumer complaints about payment products and services have shot up since March, when the national emergency was declared to deal with the Covid-19 pandemic. Complaints about credit and prepaid card products are up 29% over the same period last year, and gripes about money-transfer, virtual-currency, and money services have soared …

The big card networks have been introducing a one-click e-commerce checkout and plan to take it overseas by next year, but now a Ripple Labs Inc. executive may beat them to the punch with a single-click capability for Ripple’s XRP cryptocurrency. In what he characterizes as a “personal project,” Ripple director …

Payment processor Repay Holdings Corp. acquired cPayPlus LLC, a provider of accounts-payable automation technology. Repay paid $8 million at closing and could pay $8 million more in 2021’s third quarter depending on cPayPlus’ achievement of growth targets.After a limited release in May, a 3-year-old challenger bank called Dave announced it will issue debit cards …

U.S. Bancorp, owner of merchant acquirer Elavon Inc., saw merchant-processing revenues decline 34% year-over-year in the second quarter to $266 million thanks to reduced consumer and business volumes caused by the Covid-19 pandemic.Processor Shift4 Payments Inc. has been named the official credit card processing company for the Las Vegas Raiders National Football …

Marqeta Inc., a 10-year-old provider of a digital card-issuing platform, is looking to hire investment banks for a possible initial public offering later this year or in 2021, according to Reuters. The company, valued at $4.3 billion after its latest funding, is backed by Goldman Sachs and Visa Inc. and …

MagTek Inc. said its Magensa unit launched token technology to make touchless payments easier. The technology enables a merchant to send a payment link containing the token via email or text that allows consumers to pay in a secure environment. MagTek said the technology is available in QwickPAY, the Magensa mobile …

German payments provider Wirecard, which entered the U.S. market in 2016, filed for insolvency, it announced Thursday, following the disclosure last week of more than $2 billion in disputed cash. It is evaluating whether insolvency will be filed for its subsidiaries.In an update, Mastercard Inc. reported its switched transaction volume recorded a 1% increase in the …

Amadis, a payment software provider, announced an EMV migration product for petroleum and convenience stores. In conjunction with Advanced Mobile Payment Inc. and Texas Engineering Consulting Systems and Services, Amadis developed a proprietary Android-based contactless pay-at-the-pump product that decouples the fuel pump dispenser from the point-of-sale system, enabling payment authorization to take …