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- Blockchain provider Ripple Labs Inc. reported results on a number of pilots it is running for its XRapid cross-border payments network. Participants in the pilots have realized cost savings ranging from 40% to 70% compared to conventional fees. The average XRapid transaction took a little over two minutes, compared to two to three days with conventional services. Payments were sent from the United States to Mexico. Information was not immediately available on the duration of the pilots or on how many players participated.
- Apple Inc. will issue a cobranded credit card with investment bank Goldman Sachs, according to a report inThe Wall Street Journal. The card, which is expected to appear early in 2019 and to feature Apple Pay branding, will replace a cobranded relationship Apple has with Barclays. The move follows Goldman’s acquisition earlier this year of Final, a credit card startup.
- Spreedly Inc., which provides a single application programming interface to enable merchants to connect to multiple payments companies, said it will integrate Worldpay Inc.’s international payment-processing API into its service.
- Shares of Green Dot Corp. rose 15% Thursday morning after the prepaid card services provider late Wednesday released first-quarter financial results that included a 35% year-over-year increase in purchase volume to $7.44 billion and an 18% increase in its active card count to 5.96 million.
- Payment technology provider Bottomline Technologies said Paris-based Sopra Banking Software, whose customers include 800 banks in more than 70 countries, is integrating Bottomline’s cyber-fraud and risk-management application into its core banking system.
- Mastercard Inc. announced a collaboration with Microsoft Corp. to aid municipalities with payment and technology issues.
- Fraud-detection company Iovation has launched a global partnership program for clients that features tiered membership levels with associated features.
- Processor Co-Op Financial Services introduced a fraud-detection and control service dubbed Cooper, which uses artificial intelligence and machine learning.
- Payments provider Noventis Inc. named Mark McCarley vice president and head of sales. McCarley previously worked at Noventis and most recently was senior director of strategic accounts at Diebold Nixdorf.
- Chargebacks911 named Craig McClure its director of relationship management. He will manage the company’s European merchant and banking clients. McClure most recently worked at Visa Inc. and also worked at Lloyds Banking Group and the Bank of Scotland.
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