Point-of-sale

April, 2024

• 2 April

  Nuvei Strikes a Deal With Advent International to Go Private

  

  Nuvei Corp. announced early Tuesday it has entered into a definitive agreement with private-equity firm Advent International to be taken private in an all-cash deal valued at $6.3 billion. The deal comes less than a month after the Montreal-based processor announced it was fielding offers to take the company private. …
• 2 April

  Wallets Aren’t Prepaid Cards, Says a Federal Judge in Opposing Fee Disclosure Rules From the CFPB

  

  For the second time, PayPal Holdings Inc. has prevailed against the Consumer Financial Protection Bureau. This time, the case involved the Bureau’s effort to require PayPal to make disclosures regarding its fees associated with digital wallets. U.S. District Judge Richard Leon ruled Friday that wallets are not prepaid cards and …
• 2 April

  PayPal, Venmo Activate Visa+ and other Digital Transactions News briefs from 4/2/24

  

  Visa Inc. announced PayPal and Venmo have activated Visa+, its interoperable peer-to-peer payments service that enables users in one P2P service to make a payment to another person using another network. Fintech Current and The Western Union Co. are expected to enable Visa+ next, Visa said. The service’s B2C payout capability has …
• 1 April

  ACI Targets a Growing Digital Payments Market in the Middle East and Africa

  

  ACI Worldwide Inc. announced early Monday it has signed a 10-year partnership with digital-payments technology provider Arab Financial Services. The deal is expected to accelerate ACI’s push to help financial institutions and fintechs in the Middle East and Africa modernize their digital-payments technology infrastructure, according to ACI. Under the terms …
• 1 April

  With a Lower Cost and a No-Chargebacks Promise for Merchants, Pay by Bank Emerges as a Fiserv Priority

  

  Pay by bank is not a new electronic-payments concept—consumers have been paying utility bills with their bank accounts for years—but the promise of lower fees and reduced merchant headaches is energizing the service, and work is at hand developing new use cases. Witness Radial Inc., an e-commerce platform adopting Link …

March, 2024

• 29 March

  PayPal, Amazon, Apple, And Walmart Are Among the Big Winners in the Interchange Deal

  

  The transaction-cost savings and tender steering provided for in the big interchange settlement reached earlier this week will be worth hundreds of millions of dollars annually for major merchants and the big mobile-wallet providers, according to estimates provided to Digital Transactions News by San Carlos, Calif.-based payments researcher Crone Consulting. …
• 29 March

  COMMENTARY: The Great Hope Rising From the Quiet Revolution Against Card Payments

  

  In the heart of America’s bustling commerce, a subtle yet powerful revolution is unfolding, driven by small merchants. The strategies of offering discounts for cash payments and imposing surcharges for card transactions are at the forefront of this change. These practices, rapidly gaining traction across communities, directly challenge the entrenched …
• 28 March

  Usio Manages To Grow Revenues Despite a 26% Decline in Payment Volume

  

  Usio Inc. pulled off a 19% increase in revenues and reduced its losses last year despite a 26% drop in total payment volume processed, according to a new financial filing from the merchant processor. San Antonio, Texas-based Usio provides payment-facilitator services, credit card processing, automated clearing house payments, prepaid card …
• 28 March

  Discover CEO Leaving and other Digital Transactions News briefs from 3/28/24

  

  Michael Rhodes has resigned as chief executive and president of Discover Financial Services Inc., effective April 1. Rhodes was “not expected to have a long-term role at the combined company after completion of the Company’s merger with Capital One Financial Corporation,” Discover said in a Form 8-K filed with the Securities and …
• 27 March

  Buying Groups Might—or Might Not—Give Merchants More Negotiating Power with the Card Networks

  

  Card-acceptance costs and network rules weren’t the only subjects covered by the sweeping settlement revealed Tuesday involving Visa Inc., Mastercard Inc. and lawyers for the merchants that sued them. The pending agreement, which needs approval from a federal judge, allows for the creation of so-called merchant buying groups that would …