Digital Transactions Authoritative, insightful and timely information for payments professionals
NewStore Inc., a payments-platform provider specializing in mobile transactions, has become the latest processor to roll out Apple Inc.’s Tap to Pay on iPhone solution to its merchants in the United States. The payment option, which allows merchants to accept Apple Pay and other contactless payments by using an iPhone …
September, 2022
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13 September
Merchants United Picks AI Service for Statement Analysis
In a move to automate much of the task of analyzing merchant statements, Merchants United LLC said it will use nRoad Inc.’s platform, which analyzes unstructured data in an effort to extract useful information from it. Charleston, S.C.-based Merchants United said the technology will help its bottom line because it …
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13 September
Worldpay for Platforms Debuts And Other Digital Transactions News briefs from 9/13/22
The big processor FIS Inc. launched Worldpay for Platforms, a service that lets software providers speed up access to FIS’s Worldpay processing unit while onboarding small and medium-size merchants.PayMyTuition, a payments platform for colleges and universities, launched a cashiering module that lets schools set up multiple cashier stations to process campus payments …
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12 September
Bread Teams Up With Marqeta to Strengthen Its BNPL Hand
Seeking to beef up its buy now, pay later offering, Bread Financial on Monday launched the Bread Pay One-Time Use Card, a virtual credit card that allows consumers to pay for purchases in four installments. The card, which will be issued by Marqeta Inc., can be used by consumers for …
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12 September
The Card Networks’ Move on Gun Data Raises As Many Questions As Answers
The decision over the weekend by three of the nation’s largest payments networks to introduce a new category code for gun shops could raise more questions for the payments industry than answers. The move by American Express Co., Mastercard Inc., and Visa Inc. would for the first time create a …
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12 September
JPMorgan Acquires Renovite And Other Digital Transactions News briefs from 9/12/22
J.P. Morgan announced it has agreed to acquire Renovite Technologies Inc., a payments-technology company based in California, to help modernize the bank’s merchant-acquiring platform. Terms were not announced.The Western Union Co. announced it has acquired Te Enviei, a digital wallet based in Brazil, in an effort to introduce expanded Western Union services …
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9 September
Aurora Payments Bulks up With Its Deal for the ISO One Payment
Aurora Payments LLC, which specializes in integrated-payments technology for small to medium-size businesses, has acquired One Payment, a Florida-based fintech payment company, for an undisclosed sum. One Payment services more than 6,000 merchants, with a focus on minority-owned small and medium-size businesses. The company processes more than $1 billion in …
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9 September
Feeney Will Step Down As CEO of Cantaloupe Following Record Revenue Results
Sean Feeney, the veteran software executive and former U.S. Army officer who took over as chief executive of Cantaloupe Inc. in June 2020, will retire Sept. 30 and will be replaced by Ravi Venkatesan, who has been serving as chief operating officer of the vending-payments specialist since February. The move …
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9 September
Lavu Partners With Up ‘n Go; BofA’s Payments Data And Other Digital Transactions News briefs from 9/9/22
Lavu, a payments-technology provider specializing in restaurants, said it is partnering with Up ‘n Go, a vendor of contactless-payment technology based on QR codes, for pay-at-table checkouts.Data from the Bank of America Institute indicate overall consumer spending seen by the big bank in August was up 13% over the same month in …
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8 September
Fraud’s Long Shadow Prompts Socure to Enhance Its Identity Verification Solution
In an effort to combat the rise of financial crimes, such as fraud, Socure Inc. has enhanced its know your customer (KYC) identity-verification solution. Socure says the update gives customers stronger tools—such as reason codes and field-validation intelligence, which tests the results of machine-learning models against live data—to verify the …