Digital Transactions Authoritative, insightful and timely information for payments professionals
The global contactless payment market is forecasted to reach $4.6 trillion by 2027, up 338% from $1.05 trillion in 2019, said Precedence Research. The market is predicted to have a compound annual growth rate of 20.01% from 2020 to 2027.Concord Acquisition Corp., which has been formed to acquire or otherwise combine with payments and …
December, 2020
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10 December
Fiserv Adds Its 500th Financial Institution to Zelle and other Digital Transactions News briefs from 12/10/20
Fiserv Inc. said CB&S Bank is the 500th financial institution added to the Zelle network via the processor. Zelle is the person-to-person payments service from Early Warning Services LLC.DaVinci Payments and North Lane Technologies (formerly Wirecard North America) jointly announced the completion of a previously announced merger. The combined business will operate …
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9 December
Hudson Executive Capital And Apollo Global Management Bid to Take Cardtronics Private
Cardtronics plc, a leading non-bank ATM deployer, has been tendered an offer by Hudson Executive Capital and Apollo Global Management for its outstanding shares of stock at $31 per share in cash. Cardtronics, which operates more than 270,000 ATMs, has a less than 10% share of the global ATM business …
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9 December
Sightline Notes Investment and other Digital Transactions News briefs from 12/9/20
Sightline Payments, which provides payments for gaming companies, said it received an investment from private investment firm Searchlight Capital Partners. The amount was not disclosed. Also, Sightline cofounder and chief executive Kirk Sanford was replaced by Joe Pappano, Sightline president of Americas, who was appointed chief executive and a director …
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7 December
Paysafe Is the Latest Payments Firm to Go Public as the SPAC Trend Picks up Steam
A relatively novel method for private companies to go public gained momentum in the payments industry Monday with the announcement that London-based processor Paysafe Group Holdings Ltd. will be acquired by a group put together by Las Vegas-based Foley Trasimene Acquisition Corp. in a deal valued at approximately $9 billion. …
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4 December
Eye on BNPL: Affirm Acquires Rival PayBright And Alliance Data Finalizes Bread Acquisition
It’s a hot time for buy now, pay later companies, especially when buyers come around. Affirm Inc. is buying Canadian rival PayBright Inc. and Alliance Data Systems Corp. completed its acquisition of Bread, the brand ran by Lon Operations LLC. Buy now, pay later specialist Affirm Inc. said it will acquire …
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2 December
Lightspeed Looks to Become a Major Player in Hospitality With Acquisition of Upserve
Canadian processor Lightspeed POS Inc. expects its acquisition of Upserve Inc., a Providence, R.I.-based provider of cloud-based restaurant-management software, to make it more competitive in the restaurant point-of-sale business in the United States. The acquisition of Upserve for a combination of cash and stock totaling $430 million comes hot on …
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1 December
Eye on Acquirers: Nuvei To Acquire Base Commerce Assets And Fattmerchant Gains Major Investor
Nuvei Corp. is making a move to bolster its integrated payments offerings with the acquisition of substantially all the assets of Phoenix-based Base Commerce LLC. Announced Tuesday, the pending deal—it’s expected to close by Dec. 31—will expand Nuvei’s product capabilities with a proprietary automated clearing house platform and additional merchants, Montreal-based …
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1 December
Unicorn Momentum—Like Much Else—Slows in 2020 for Payments Firms And Other Fintechs
Most Americans will be glad to see the last of 2020 as they ring in 2021 in a few weeks, and that group will include private investors. In a year in which the coronavirus ran rampant, damaging many businesses and shuttering others, tech investors pegged significantly fewer privately held payments …
November, 2020
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30 November
Shopify’s Black Friday Volume up 75% and other Digital Transactions News briefs from 11/30/20
Commerce platform Shopify Inc. reported $2.4 billion in global Black Friday sales, a 75% increase from 2019. Black Friday is the Friday following Thanksgiving. Mobile sales accounted for 68% of U.S. transactions and desktop, 32%. Top U.S. cities were New York, Los Angeles, and Vernon, Calif. The average ticket of $93.80 was …