Digital Transactions Authoritative, insightful and timely information for payments professionals
First American Payment Systems has agreed to a proposed federal court order requiring the processor to repay $4.9 million to small businesses affected by what the Federal Trade Commission called deceptive practices, according to the FTC. The settlement, announced Friday, was made in the wake of charges by the FTC …
August, 2022
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1 August
Global Payments Says It Will Acquire Overseas Payments Specialist EVO for $4 Billion
The consolidation of the payment-processing business continues apace, driven by economies of scale and the challenges of keeping up with emerging technology. In the latest deal, which is expected to close in the first quarter of next year, Global Payments Inc. announced early Monday it will acquire EVO Payments Inc. …
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1 August
Regpack Signs NYLA Talent And Other Digital Transactions News briefs from 8/1/22
Regpack, a payment management platform, said NYLA Talent, a network of more than 100 entertainment industry professionals and organizations, adopted its service to automate and digitize its payment processes.Early Warning Services LLC has opened a new headquarters in Scottsdale, Ariz. Owned by seven of the nation’s biggest banks, Early Warning is …
July, 2022
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29 July
Dueling Trade Groups Seek to Sway the Payments Industry Over Durbin’s Credit Card Bill
With the introduction in Congress on Thursday of a bill that attacks rising credit card acceptance costs, lobbyists for both sides of the issue lost no time firing broadsides, pro and con, over the matter. The legislation, co-sponsored by Richard Durbin, D-Ill., and Roger Marshall, R-Kan., seeks to ratchet down …
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29 July
Blackhawk Teams Up With Aurus To Help Increase Digital Payments Access
Blackhawk Network Inc. is partnering with Aurus Inc., an omnichannel payments-platform provider, to increase consumer access to digital payments such as digital wallets and buy now, pay later loans. The deal is expected to provide merchants a single payments platform that supports myriad payment options, including general purpose and private-label …
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29 July
PayGround Secures $5.5 Million in Funding And Other Digital Transactions News briefs from 7/29/22
PayGround, a payments fintech specializing in health care, completed a $5.5-million funding round led by FCA Venture Partners and Lewis & Clark Ventures. The financing follows a $4-million seed round for PayGround last year.Chargebacks911 said its partnership with FIS Inc.’s Worldpay unit now includes Disputes Deflector, a set of chargeback and …
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28 July
It’s Too Soon To Know Impact of New Routing Proposal, Mastercard Says
Mastercard Inc. executives are paying close attention to a new proposal in the U.S. Congress that could alter merchant choice in routing credit card payments. Concurrently, its earnings are riding the crest of a wave that includes consumer spending and the resurgence in travel. A bipartisan bill sponsored by senators Richard …
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28 July
Experts Differ on the Consequences of Durbin’s Latest Effort to Control Merchants’ Card Costs
With a pair of U.S. Senators preparing to introduce a bill that would allow merchants to process Visa and Mastercard credit card payments over other networks, payments experts reached by Digital Transactions News are sharply divided on the idea. The bipartisan bill, sponsored by Richard Durbin, D-Ill., and Roger Marshall, …
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28 July
Daystar Aims for 1,000 ISOs And Other Digital Transactions News briefs from 7/28/22
Daystar Payments has launched as a payments processor aiming to sign 1,000 independent sales organizations by the end of 2023, with a focus on attracting minority-owned businesses.Weave, a provider of customer-communication technology, launched a buy now, pay later platform for health-care providers. The company introduced a payment-processing platform in late 2019.The Strawhecker Group, …
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27 July
MX Expands Its Open Banking Footprint Via Deals With Sionic And FuturePay
MX Technologies Inc. has expanded its reach into the emerging field of open banking through partnerships with Sionic Mobile Corp., a provider of consumer-to-business payments technology, and FuturePay Inc., a provider of digital revolving credit solutions for e-commerce merchants and their customers. Sionic is embedding MX’s instant account-verification and account-aggregation …