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- First Data Corp. and Fiserv Inc. expect to close Monday on Fiserv’s $22-billion acquisition of First Data. The deal, announced in January, has received final required regulatory approvals and non-objections, First Data said. First Data announced $2.49 billion in revenue for the second quarter, up 2% year-over-year.
- A group of Congressional Democrats, including presidential candidate U.S. Sen. Elizabeth Warren (D-Mass.), are backing a bill that would require the Federal Reserve to build a real-time gross-settlement payments system, Bloomberg News reported. The Fed is mulling whether it should provide such a system, but hasn’t yet announced a decision. Big banks generally are opposed to a direct Fed role in real-time payments and support the new real-time service from The Clearing House, a bank-owned processor. Other groups, including the Independent Community Bankers of America, a trade group of smaller banks, and the National Retail Federation and other merchant associations, support a Fed alternative.
- Visa Inc. is mulling a purchase of part of Nets, a privately held Copenhagen-based payments processor, according to news reports. Nets serves some 400,000 merchants across Europe.
- Shares of Diebold Nixdorf Inc. jumped 24% Thursday morning after the ATM manufacturer reported stronger than expected second-quarter results and revised its 2019 financial outlook upward.
- Cardtronics said it will manage 38 Extraco Bank ATMs. The bank also joined the Cardtronics-owned Allpoint surcharge-free network.
- Allied Payment Network, a provider of online and mobile bill-payment for financial institutions, announced a collaboration with REDI Enterprise Development, a vendor of risk-management software, to support Allied’s loan-payment technology.
- Signature Card Services said it acquired payment gateway iDeposit. Terms were not disclosed.
- Fifty-five percent of consumers say it takes only one bad experience to keep them from returning to a store, while 39% of retailers say loyalty is no longer merely a matter of rewards and 69% say they have to work harder than they ever have to retain customers, according to a survey of 2,000 U.S. consumers and 250 retailers by payments provider Klarna.
- Mobile-payments provider Glance Technologies Inc. named Neil Crist, founder and chief executive of Veneulabs, which is now part of Groupon, to its board of advisors.
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