Digital Transactions Authoritative, insightful and timely information for payments professionals
• Groundwork, a payments service for school sports, launched its service to let parents use bank accounts or cards to make payments for team expenses. Teams pay a fee of 2% plus 30 cents, with an additional charge for card payments, with all payment communication with parents managed by the Groundwork system.
• Chipmaker Gemalto and risk-management firm ThreatMetrix announced a collaboration to provide authentication technology to banks, payment-service providers, payment networks, and financial startups.
• PayU, a global payment-service provider, said it will work with Zooz Inc., whose technology helps merchants determine the most efficient routing for cross-border transactions.
• Blockchain-technology provider First Bitcoin Capital Corp. and holding company SinglePoint Inc. are teaming up to develop payment solutions for what they call “high-risk payment verticals,” including the cannabis industry.
• Greenlight Financial Technology Inc., creator of a Mastercard debit card for children, raised $7.5 million in seed financing in a funding round led by Relay Ventures. Launched in January, the card, which is issued by Community Federal Savings Bank and has a $4.99 monthly fee per family and parental controls, now has 10,000 paying customers.
• To combat robberies, the New York Police Department has placed ATMs from Municipal Credit Union inside five precinct station houses in high-crime city neighborhoods and eventually plans to install ATMs in all 98 of its station houses, the New York Post reported.
