Costco’s New Pump Payment Tech and other Digital Transactions News Briefs from 9/11/24
Candi Grano
September 11, 2024
Acquiring, Competitive Strategies, E-Commerce, Fraud & Security, Law and Regulation, Mobile Commerce, Point-of-sale
- Retailing giant Costco Wholesale Corp. has contracted with technology company Vontier to install new payments devices and software at the chain’s 76 fueling stations in Canada, starting next month. Vontier two years ago acquired Invenco, a company that included long-time fueling-technology provider Gilbarco Veeder-Root.
- Payment processor Silverflow said it has reached a new agreement with Chesapeake Bank to offer the bank’s ISO clients a stepped-up processing platform. ISOs, or independent sales organizations, market payments services to merchants and other companies.
- Cantaloupe Inc., a specialist in payments at vending machines and other unattended venues, reported June-quarter volume of $815.7 million, up nearly 16% year-over-year, on 290.4 million transactions, a 4.2% bump. Revenue came in at $72.7 million, up 13.2%. For the full fiscal year, volume totaled $3 billion, up 14.8%; transactions reached 1.14 billion, a 4.4% jump; and revenue came to $268.6 million, a 10.2% increase.
- The Consumer Financial Protection Bureau has ordered TD Bank to pay a total of $7.76 million to “tens of thousands” of customers whose information the CFPB alleges the bank shared with reporting companies. The data included “systemic errors” about credit card delinquencies and bankruptcies, the bureau says. TD Bank also was ordered to pay $20 million as a civil penalty.
- E-commerce technology company Shoplazza said it is working with Stripe Inc. to support Shoplazza’s new payments platform.
- Lyric, whose technology sorts out complex claims payments for insurers, said it will offer coordination of benefits as part of a new offering in its payments-integrity service, with initial availability through Strout, a Medicare-related coordinator of benefits.
- Applied Systems, a software provider to the insurance industry, has added to its Applied Pay payments platform a capacity to allow policyholders to finance premium payments.
- Globant, a technology-services provider, has agreed to acquire Blankfactor, a Miami-based platform whose specialties include card issuing and merchant acquiring. Terms were not announced.
- Socure said it has expanded the geographic availability of its identity-verification technology, which it said is now available in more than 190 countries. The expansion comes as customer demand for cross-border digital identity verification increases, the company said.
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