Sunday , September 20, 2020

FIS’s Merchant Revenue Balloons and other Digital Transactions News briefs from 5/7/20

  • Fidelity National Information Services Inc. (FIS) reported $935 million in revenue in its merchant solutions segment in the first quarter of 2020, a 1,770% increase from $50 million a year ago. That’s a reflection of the integration of acquirer Worldpay, which FIS purchased last year. Sales were up in non-discretionary verticals, online retail, and digital commerce, FIS said, and accounted for 60% of the segment’s revenue. Travel, entertainment, and restaurant sales, comprising 25% of the quarter’s revenue, were significantly affected. Traditional point-of-sale revenue, or 15% of the revenue, was only moderately impacted. Overall revenue, including FIS’s banking and capital markets business, totaled $3.08 billion, a 49.5% increase from $2.06 billion last year.
  • ACI Worldwide Inc. reported first-quarter revenues rose 42% year-over-year to $291.5 million. The payment technology and services provider posted a net loss of $24.4 million compared with a $26 million loss a year earlier.
  • In its latest report on the impact of the Covid-19 pandemic on small businesses, point-of-sale technology provider CardFlight Inc. says sales at small businesses were up 11.1% last week, and just 12.6% below the report’s baseline week of March 2–8.
  • Online fraud-prevention services provider Signifyd, in its latest Weekly Pulse Report for E-Commerce, found that e-commerce spending has risen 56% since the last week of February.
  • POS equipment maker Star Micronics said IndicaOnline, which provides POS systems for cannabis merchants, added support for two mobile printers.
  • Publicly held payment processor Net Element Inc., which is based in Florida but has a considerable business in Russia, said it will “explore strategic alternatives … to unlock shareholder value.” The company, which also operates in the United States and other countries, said “it appears that the public markets do not appropriately recognize the value of our business.”
  • MagTek Inc. named Roger Applewhite president and chief executive of the point-of-sale technology provider. Applewhite succeeds Annmarie “Mimi” Hart, who assumes the chairman of the board role. Applewhite has worked at MagTek for the past eight years, most recently as senior vice president of strategic initiatives and chief operating officer of its Magensa LLC subsidiary. MagTek also named Steve Harvey and Rod Vesling as senior vice presidents of MagTek and Magensa, respectively.
  • Credit-reporting agency TransUnion LLC named Shai Cohen senior vice president of global fraud solutions to lead its newly formed Global Fraud & Identity Solutions Group. Cohen most recently was an executive at technology security firm RSA.
  • Police in Walker, La., responded to a complaint about an “aggressive chicken” approaching customers at a bank ATM last Saturday. The reddish-brown chicken, which reportedly had been “terrorizing” customers all week and remains at large, even attempted to enter cars at the bank’s drive-through before leaving the scene.

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