Monday , May 17, 2021

Loop’s Vend Integration and other Digital Transactions News briefs from 4/7/21

  • Contactless-technology provider Loop Insights Inc. announced it has integrated its service with an application programming interface for billing from point-of-sale technology provider Vend Ltd. The integration enables onboarding of Vend merchants to Loop’s compliance and reporting platform. Processor Lightspeed POS Inc. last month agreed to acquire Vend in a deal valued at $350 million. The deal is expected to close later this month.
  • Business-to-business payments provider TreviPay said it has integrated its service with commerce platform Digital River.
  • Payments provider North American Bancard Holdings LLC has partnered with Hawk:AI, a provider of real-time transaction-screening technology, to reinforce NAB’s compliance with anti-money-laundering rules.
  • Fintech Opportunity Financial LLC announced it has collaborated with First Electronic Bank, Deserve Inc., and Mastercard Inc. to launch the OppFi Card, a mobile-device-based credit card aimed at non-mainstream consumers. The product is expected to launch in the second half of the year.
  • Australian payments provider EML Payments Ltd. said it has agreed to acquire based payments processor Sentenial in a deal valued at 70 million euros ($83 million U.S.).
  • Because of varying interpretations in the marketplace, the Federal Reserve released a definition of synthetic identity fraud: “the use of a combination of personally identifiable information (PII) to fabricate a person or entity in order to commit a dishonest act for personal or financial gain.”
  • Everyware, a contactless payments and customer engagement services company, said it became a technology partner of Cybersource and, two units of Visa Inc.
  • Paytronix Systems Inc. said its loyalty platform is now integrated with Revel Systems point-of-sale service.
  • Ekata, a digital identity services provider, announced its Merchant Onboarding service. Benefits include the ability to build trusted risk profiles for small merchants, shift low-risk merchant applications to low-friction processes; and shorten manual review time.
  • MoneyGram International Inc. appointed Hilary Jackson chief operating officer, effective April 26. Jackson formerly worked for Selene Holdings, Capital One, and Bank of America.
  • Nxt-ID Inc. announced it will spin off its payments, authentication, and credential-management assets, including its FitPay unit, into a separate and independent company. It expects to complete the transaction by Nov. 1‌5. Michael Orlando, currently chief operating officer at Nxt-ID and president of FitPay, will become chief executive of the new company.

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