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- J.P. Morgan announced it has agreed to acquire Renovite Technologies Inc., a payments-technology company based in California, to help modernize the bank’s merchant-acquiring platform. Terms were not announced.
- The Western Union Co. announced it has acquired Te Enviei, a digital wallet based in Brazil, in an effort to introduce expanded Western Union services in that country.
- Buy now, pay later provider Splitit raised $10.5 million, funding that will aid development of its white-label installment payment service.
- Consumer spending this holiday season is forecasted to increase 7.1% over the 2021 season, according to Mastercard Inc.’s SpendingPulse holiday forecast.
- ClassWallet, provider of digital wallets for education-related spending, said the state of Washington has chosen it to help track and distribute federal emergency assistance totaling $3.8 million for non-public schools to make purchases made necessary by Covid disruptions.
- Payments provider Usio Inc. launched Consumer Choice, its funds disbursement service, which enables clients to offer a variety of payment methods to consumers.
- Fintech Mercury released IO, its corporate credit card. The card is issued by Patriot Bank and bears the Mastercard Inc. brand.
- Innovative Payment Solutions Inc. completed the integration of its IPSIPay mobile app and back-end payment processing infrastructure through its commercial partners.
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