News

May, 2023

• 16 May

  Paysafe Gains Momentum As CEO Lowthers Completes His First Year at the Helm

  

  Paysafe Ltd. has been all about growth since Bruce Lowthers took over a year ago as chief executive, and on Tuesday he contended the London-based processor is expanding nicely in its key wallet and iGaming markets. “We returned to growth in the second half of 2022,” Lowthers told equity analysts …
• 16 May

  ACI Completes FedNow Certification And Other Digital Transactions News briefs from 5/16/23

  

  Payments provider ACI Worldwide Inc. said it has completed testing and certification necessary to participate in the Federal Reserve’s FedNow real-time payment service, set to launch in July. Identity-verification specialist Veriff said it will provide its services through processor MassPay’s payments-orchestration platform. Warning of more fraud as peer-to-peer and real-time payments gain volume, technology firm ComplyAdvantage launched Fraud Detection, which …
• 15 May

  As the Dark Web Turns Darker, Mitek And DarkTower Partner to Combat Fraud And ID Theft

  

  Mitek Systems Inc., a provider of identity-verification technology, is teaming up with DarkTower, the cyber-intelligence division of Davidson, N.C.-based IT consultancy Queen Associates, to combat account fraud and identity theft. The partnership grew out the increasing role criminal marketplaces on the dark Web are playing in account and check fraud, …
• 15 May

  As FedNow Gears up for Launch, Processors Ready Smaller Clients

  

  Jack Henry & Associates Inc., one of the earliest participants in the Federal Reserve’s nascent FedNow real-time payments platform, said early Monday it is “operationally ready” to support the service when it launches commercially in July. The Monett, Mo.-based processor said more than 20 client institutions are set to connect …
• 15 May

  Fifth Third Closes on Big Data Deal And Other Digital Transactions News briefs from 5/15/23

  

  Fifth Third Bancorp said it has closed on its acquisition of Big Data LLC, a technology platform for health-care payments. Terms were not disclosed Mark Barnett, president of Mastercard Inc. for Europe, said card interchange “represents incredibly good value” with respect to “sharing the costs and benefits of the payment system.” The remarks …
• 12 May

  Eye on BNPL: Capchase Brings BNPL to SaaS Developers and Affirm’s Loss Broadens

  

  Capchase, which provides funding to software-as-a-service companies without requiring them to give up an ownership stake, has launched a buy now, pay later financing option that allows SaaS vendors to collect the full contract value for their applications while providing customers with flexible payment terms. Capchase developed the BNPL payment …
• 12 May

  COMMENTARY: Merchants Don’t Need Another Payment Option. They Need a Partner

  

  Online merchants today are faced with a difficult dilemma. They often operate with limited resources, which is especially true for independent retailers with smaller budgets. To expand their businesses, these merchants must carefully manage their financial and human resources, especially in the highly competitive world of e-commerce. So, here’s a …
• 12 May

  PAX Debuts Elys Workstation and other Digital Transactions News briefs from 5/12/23

  

  Point-of-sale terminal maker PAX Technology Inc. released its Elys Workstation, a configurable POS device. It features a 14-inch screen, front-facing camera, and operates on the Android system. It can be paired with multiple PAX payment acceptance terminals. PayPal Holdings Inc.’s stock has traded in the mid-$60s range for days following a plunge early …
• 11 May

  Payroc Acquires Atlantic Merchant; First American by Deluxe Adds SwipeSimple’s Software

  

  Payroc WorldAccess LLC has acquired Atlantic Merchant Services, LLC for an undisclosed sum. Raleigh, N.C.-based-Atlantic Merchant serves merchants and businesses across the mid-Atlantic region, as well as West Virginia, Tennessee, Michigan, and Texas. Atlantic Merchant’s services include touchscreen POS, mobile solutions, e-commerce, countertop terminals, and smart-phone applications. Merchant segments serviced …
• 11 May

  Mid-Market Specialists in Small And Medium Merchants Report Quarterly Gains

  

  Mid-size payments processors have contended with a pandemic, a sharply rising cost of funds, and pronounced inflation over the past few years, but that hasn’t stopped them from capturing volume, particularly from the small and medium-size merchants that have long been their specialty. In results reported early Thursday, Alpharetta, Ga.-based …