Transaction Processing

In a move to automate much of the task of analyzing merchant statements, Merchants United LLC said it will use nRoad Inc.’s platform, which analyzes unstructured data in an effort to extract useful information from it. Charleston, S.C.-based Merchants United said the technology will help its bottom line because it …

The big processor FIS Inc. launched Worldpay for Platforms, a service that lets software providers speed up access to FIS’s Worldpay processing unit while onboarding small and medium-size merchants.PayMyTuition, a payments platform for colleges and universities, launched a cashiering module that lets schools set up multiple cashier stations to process campus payments …

Seeking to beef up its buy now, pay later offering, Bread Financial on Monday launched the Bread Pay One-Time Use Card, a virtual credit card that allows consumers to pay for purchases in four installments. The card, which will be issued by Marqeta Inc., can be used by consumers for …

The decision over the weekend by three of the nation’s largest payments networks to introduce a new category code for gun shops could raise more questions for the payments industry than answers. The move by American Express Co., Mastercard Inc., and Visa Inc. would for the first time create a …

J.P. Morgan announced it has agreed to acquire Renovite Technologies Inc., a payments-technology company based in California, to help modernize the bank’s merchant-acquiring platform. Terms were not announced.The Western Union Co. announced it has acquired Te Enviei, a digital wallet based in Brazil, in an effort to introduce expanded Western Union services …

Aurora Payments LLC, which specializes in integrated-payments technology for small to medium-size businesses, has acquired One Payment, a Florida-based fintech payment company, for an undisclosed sum. One Payment services more than 6,000 merchants, with a focus on minority-owned small and medium-size businesses. The company processes more than $1 billion in …

Sean Feeney, the veteran software executive and former U.S. Army officer who took over as chief executive of Cantaloupe Inc. in June 2020, will retire Sept. 30 and will be replaced by Ravi Venkatesan, who has been serving as chief operating officer of the vending-payments specialist since February. The move …

Lavu, a payments-technology provider specializing in restaurants, said it is partnering with Up ‘n Go, a vendor of contactless-payment technology based on QR codes, for pay-at-table checkouts.Data from the Bank of America Institute indicate overall consumer spending seen by the big bank in August was up 13% over the same month in …

In an effort to combat the rise of financial crimes, such as fraud, Socure Inc. has enhanced its know your customer (KYC) identity-verification solution. Socure says the update gives customers stronger tools—such as reason codes and field-validation intelligence, which tests the results of machine-learning models against live data—to verify the …

Underscoring the rapid growth of digital payments between individuals, the Zelle Network early Thursday celebrated five years in business with numbers showing it has processed more than 5 billion transactions worth almost $1.5 trillion. In that time, almost 1,700 banks and credit unions have added Zelle to their mobile apps, …