News

February, 2022

• 7 February

  BofA Posts a Big January in Payments Thanks to Surging Migration Away From Paper

  

  If the nation’s second-largest bank is any indication, total consumer payments are booming despite the pandemic, while digital alternatives are gaining ground fast, in part because of the pandemic. Bank of America Corp. reported early Monday spending by consumer customers in January rose 17% compared to January last year, resulting …
• 7 February

  Fiserv Acquires Finxact and other Digital Transactions News briefs from 2/7/22

  

  Processor Fiserv Inc. said it has agreed to acquire digital-banking developer Finxact Inc. Fiserv, an early investor in Finxact, will acquire total ownership interest for $650 million.Israel-based payments provider Nayax Ltd. said it has submitted a draft registration statement with the U.S. Securities and Exchange Commission for a potential U.S. initial public offering of …
• 4 February

  Vending Payments Specialist Cantaloupe Reports Steady Progress As It Eyes Broader Markets

  

  Cantaloupe Inc. has come a long way since its turbulent times in 2020. The specialist in technology and processing for vending machines and other unattended locations on Thursday announced its dollar volume processed in the December quarter totaled $553.3 million, up 31% year-over-year, while active customers grew 16% to 21,315. …
• 4 February

  Better Communication And Fee Transparency Boost Big Banks on Merchant Satisfaction

  

  After years of trailing fintechs such as Square Inc. when it comes to merchant satisfaction with payment processing, big banks find themselves atop the leader board, according to J.D. Power’s 2022 U.S. Merchant Services Satisfaction Study.  Bank of America Merchant Services leads the way, posting a satisfaction score of 894 …
• 4 February

  Bill.com’s Volume Jumps 62% and other Digital Transactions news briefs from 2/4/22

  

  Payments technology provider Bill.com processed $56.4 billion in volume in the Dec. 31 quarter, up 62% year-over-year, with 9.8 million transactions on its platform, a 35% increase. It also processed 5.3 million Divvy card transactions worth $1.9 billion.Abaca, a fintech specializing in cannabis payments, said it has processed $2 billion in transactions …
• 3 February

  Outseer Plans Fraud-Detection Apps for Emerging Payments, Starting With BNPL

  

  Given the wild success of buy now, pay later loans, it’s no surprise fraudsters have found a way to get in the game. To help card issuers offering BNPL installment options post-purchase reduce the risk of fraud, Outseer, an authentication subsidiary of Bedford, Mass.-based data-security services provider RSA, on Wednesday …
• 3 February

  Faster Payments And B2B Propel a Big Year for the ACH As Dollar Volume Tops $72 Trillion

  The pandemic has “fast-tracked” adoption of the automated clearing house network for business-to-business payments, while transactions cleared and settled through the network on the same day they’re initiated are booming, according to full-year 2021 numbers released Thursday by Nacha, the governing body for the nationwide network. The annual results complement …
• 3 February

  Small Businesses Mostly Pleased With Their Acquirers and other Digital Transactions news briefs from 2/3/2022

  

  Small-business satisfaction with merchant processors stands at 859 on a scale of 1,000, up 23 points from 2021, according to the J.D. Power 2022 U.S. Merchant Services Satisfaction Study. Banks lead the way in the survey, with Bank of America and Chase ranking first and second, followed by Square.Payments provider Payliance announced it …
• 2 February

  Zelle Rides a Rising Wave, Posting Strong Gains in ’21 in Transactions And Dollar Volume

  

  Spurred by rising demand from consumers and businesses alike for real-time digital payments, the peer-to-peer payments service Zelle continued to post strong double-digit growth in transactions and dollar volume in 2021. The bank-owned network, operated by Early Warning Services LLC, reported its latest results early Wednesday. Consumers and businesses sent …
• 2 February

  Nayax’s New Vending Options and other Digital Transactions news briefs from 2/2/2022

  

  Nayax Ltd., a payments processor for vending machines, announced it has launched an EMV-compliant platform allowing multiple choices with a single transaction authorization.Hospitality-technology provider Bite Ninja said it has acquired Zenu, a provider of ordering and payment technology for restaurants. Terms were not announced.BlueOne Card Inc. said it is launching its BlueOne Card, …