Monday , January 18, 2021

News

January, 2021

  • 8 January

    SoFi Makes a Move to Go Public and other Digital Transactions News briefs from 1/8/21

    Social Finance Inc. said it will use the special purpose acquisition tool to become a publicly traded company. Known as SoFi, the company will merge with Social Capital Hedosophia Holdings Corp. V, a SPAC, to enter the public market. SoFi’s equity value is pegged at $8.65 billion in the deal. SoFi, which …

  • 7 January

    Shift4 Adds to Its In-Venue Gambling Business Via an Expansion Into Online Sports Betting

    Processor Shift4 Payments Inc. on Thursday expanded its presence in the gambling industry to include online gambling and fantasy leagues through a partnership with Sightline Payments, a provider of cashless gaming and betting solutions. The partnership complements Shift4’s existing relationships with Las Vegas casinos and other betting venues around the …

  • 7 January

    Covid—And a New Partnership—Help Push ParkMobile Into the Garage

    The pandemic has in a few months’ time brought changes to the payments business that otherwise might have taken years—even in mundane environments like parking. One big development emerged Thursday with the announcement that TIBA Parking Systems, which manages access to more than 1.9 million parking spaces in the United …

  • 7 January

    NCR Acquires Freshop and other Digital Transactions News briefs from 1/7/21

    NCR Corp. said it acquired Freshop, a grocery e-commerce services provider. Terms were not disclosed. NCR estimates that buy online, pick up in store shopping will increase 25% per year through 2025.Payment Alliance International said it acquired the ATM portfolio of B & B Music & Video, consisting of 580 company-owned and …

  • 6 January

    GO2bank, a Mobile-Banking App, Is Green Dot’s Latest Bid for the Underbanked Market

    As part a strategy to widen its market for banking solutions, Green Dot Corp. Wednesday launched GO2bank, a mobile-banking application intended to help the 7.1 million unbanked households in the United States manage their finances.  Green Dot says it is launching the program as a way to eliminate the costly …

  • 6 January

    A Last-Minute Presidential Ban on China-Based Payment Apps Puzzles Payments Experts

    An executive order by President Donald Trump banning a pair of major Chinese payments apps comes in the waning days of his administration and may leave more questions than it answers, observers say. The order, issued Tuesday, prohibits transactions on eight China-based apps, including the hugely popular Alipay and WeChat …

  • 6 January

    Qualpay Adds Google Pay Support and other Digital Transactions News briefs from 1/6/21

    Payments platform Qualpay said it is now supporting Google Pay transactions in recognition of increasing consumer usage of mobile wallets.Payments-technology provider Cardknox launched a beta version of its partner portal, intended for the use of sales partners and independent sales vendors to onboard and manage merchant-processing accounts.Digital-payments provider Payrailz has launched Action Insights, a service intended …

  • 5 January

    PayPal Wins Its Lawsuit Against the CFPB, But the Legal Wrangling Is Far From Over

    PayPal Holdings Inc. may have prevailed in its lawsuit against the Consumer Financial Protection Bureau over the CFPB’s rules pertaining to prepaid cards and digital wallets, but the overarching legal battle is likely to continue. The ruling, which was handed down Dec. 30 by U.S. District Judge Richard Leon and …

  • 5 January

    COMMENTARY: Prepare for the Coming Impact of Digital Fiat Currencies

    Amara’s Law, coined by Stanford computer scientist Roy Amara, says we tend to overestimate the impact of a new technology in the short run, but underestimate it in the long run. So it was with the Internet and mobile phones. So it’s likely to be with digital fiat currencies.  Since …

  • 5 January

    Mobile Wallet Use up and other Digital Transactions News briefs from 1/5/21

    In the week before and the week of Christmas, consumers markedly increased their use of mobile wallets, with mobile wallets loaded with a debit card increasing 79.2% from the same weeks a year ago, according to the Tracking Transaction Trends report from PSCU, a credit union service organization. Use of mobile …

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