Transaction Processing

The big merchant processors Global Payments Inc. and merger candidate Worldpay Inc. reported healthy first-quarter results Thursday. North America performed especially well for Atlanta-based Global Payments, generating $678.4 million in revenues, up 14% from $594 million in 2018’s first quarter. In contrast, European revenues slipped 0.3% to $142.9 million while …

The board of directors of Mitek Systems Inc., the developer of remote deposit capture and identity-verification software, has concluded its “strategic review” of alternatives that could have led to the company being acquired, but now plans to remain independent. “Our board, following a thorough review of the results and in …

Square Inc. has been a non-traditional merchant acquirer since its birth nearly a decade ago, and a wave of industry mergers won’t change that, according to chief executive Jack Dorsey.  “I do think we will continue to see consolidation, but that doesn’t worry me,” Dorsey, who also is Twitter Inc.’s …

Merchant processor EVO Payments Inc. says it has a deal to acquire the payment-gateway assets of Mexico City-based SF Systems, which has developed integrations with many of Mexico’s largest point-of-sale systems. EVO has been working with SF Systems since it entered Mexico in 2015. Terms of the deal were not …

Mastercard Inc. has been active on the mergers-and-acquisitions front lately, and that’s going to continue, according to company president and chief executive Ajay Banga. The acquisitions typically involve financial-technology firms in all corners of payments. Just two weeks ago, Mastercard announced that it had acquired Vyze Inc., the provider of …

Fidelity National Information Services Inc. (FIS) on Tuesday said it expects to close its colossal $43 billion acquisition of payment processor Worldpay Inc. in the third quarter following a Federal Trade Commission ruling. The merger, announced in March, would create a processing colossus with payments services ranging from merchant processing, …

PayPal Holdings Inc. said the United Kingdom Competition and Markets Authority provisionally cleared PayPal’s $2.2 billion deal to buy iZettle AB, a European point-of-sale services provider. The deal closed in 2018. Processor First Data Corp. said merchant-processing revenues from North American clients rose 5% year-over-year in the first quarter to …

In the race to attract and retain today’s always-on, mobile-savvy consumer, most companies are developing their own e-commerce apps at a fast and furious pace. But small glitches, and even major mishaps, can occur when app testing is rushed or overlooked altogether, leading to unhappy consumers, lost sales, and a …

The conditions for the widespread adoption of contactless payments using chip cards are in place, asserts a new report from the Federal Reserve Bank of Boston. But when that will happen and what will trigger it are unknown in the Fed report, “Tap to Pay: Will Contactless Cards Pave the …

Merchants and card issuers long ago discovered the value of cash in driving transaction volume, but on Thursday Discover Financial Services demonstrated how expensive some rewards categories can be. Discover reported $677 million in discount and interchange revenue for the first quarter, up 5% from the same quarter last year. …