Point-of-sale

February, 2023

• 23 February

  Nuvei Closes Paya Deal And Other Digital Transactions News briefs from 2/23/23

  

  Payments provider Nuvei Corp. closed on its previously announced $1.3-billion deal to acquire Paya Holdings Inc. Nuvei will release fourth-quarter and full-year 2022 results on March 8. Earlier this week, Paya released figures indicating its 2022 payments volume totaled $49.5 billion, with 2022 revenue of $282.7 million and net income of $8.3 million. Processor Evertec …
• 22 February

  U.S. Consumers Now Loom Large for Sweden’s Klarna

  

  The United States has become buy now, pay later provider Klarna AB’s largest market by revenue, the company announced Tuesday. BNPL use blossomed during the pandemic and continues to find favor as inflation concerns push consumers to make value-based spending decisions. With 8 million monthly active users of the Klarna …
• 22 February

  42% of Income Spent on Bills And Other Digital Transactions News briefs from 2/22/23

  

  The average U.S. household spends $29,459 per year on bills, amounting to 42% of income, according to the “2023 U.S. Bill Pay Market Size & Category Breakout Report” from bill-pay processor doxo. Mission Lane, a fintech providing access to credit and debit products to more than 2 million consumers, said it …
• 21 February

  As FedNow Prepares for Launch, Bankers’ Banks Enlist Help for Real-Time Payments

  

  With the launch of the Federal Reserve’s FedNow real-time payment service expected by mid-year, payments players are lining up clients to take advantage of the service. The latest is Pidgin Inc., a startup payments platform specializing in supporting financial institutions. The Atlanta-based company early Tuesday announced that Community Bankers’ Bank …
• 21 February

  PayJunction Readies A2A Integration And Other Digital Transactions News briefs from 2/21/23

  

  Payments provider PayJunction released an updated version of its developer toolset to enable software companies to integrate account-to-account bank transfer connectivity within their platforms. Equipifi, a white-label buy now, pay later provider, said customers of credit union ACU of Texas can now use BNPL as a payment method with their existing debit …
• 20 February

  Serving 10,000 Vet Clinics, Vetsource Launches a Processing Capability

  

  Vetsource, a provider of technology, pharmacy, and business services to veterinary practices, has added payment processing capabilities to its platform. In addition to supporting credit and debit cards, e-wallets, and online and automated clearing house payment-processing options, Vetsource says its new service will enable veterinary practices to offer payment methods …
• 17 February

  Card Skimming Grew Dramatically Last Year And Shows No Signs of Slowing Down

  

  Instances of card skimming were up in the United States in 2022, with more than 161,000 impacted cards identified, a five-fold increase over 2021, and a more than three-fold increase in the total number of cards compromised, according to FICO (formerly Fair Isaac Co.). In addition, 3,000 unique financial institutions …
• 17 February

  Entrust Group Enlists Stripe for Card and ACH Payments And Other Digital Transactions News briefs from 2/17/23

  

  Entrust Group, an IRA administrator, said it is working with Stripe Inc. to ease credit card and automated clearing house payments for client contributions. Block Inc.’s Cash App will support a cash-giveaway promotion for Moe’s Southwest Grill on Feb. 24, with the total payout expected to be $25,000. U.S. Bank launched its Business …
• 16 February

  Observers Split on Banking Groups’ Effort to Get the Fed to Extend Time for Debit Compliance

  

  Industry opinions are mixed regarding a move by banking trade groups to plead for more time to act on a ruling issued in October by the Federal Reserve. The ruling orders all banks to comply by July 1 with an 11-year-old requirement that merchants have a choice of at least …
• 16 February

  Repay Sells a Software Unit And Other Digital Transactions News briefs from 2/16/23

  

  Payments provider Repay Holdings Corp. said it has sold its Blue Cow Software LLC unit to PDI Technologies Inc., a software provider for convenience stores and petroleum-related companies. Terms were not disclosed. Blue Cow came to Repay in June 2021 as a result of Repay’s $503-million acquisition of BillingTree in 2021. Digital identity and fraud prevention …