Friday , March 29, 2024

MagTek Launches E-Signature Service and other Digital Transactions News briefs from 4/18/18

  • Netherlands-based processor Adyen reported that it generated $1.14 billion in revenue last year, up $400 million over 2016, on merchant volume of $122 billion, up 61%. Recent press reports have speculated that Adyen, which has U.S. operations headquartered in San Francisco, is considering an IPO.
  • Shares in online marketplace eBay Inc. were expected to get a lift Wednesday after a report from Morgan Stanley analyst Brian Nowak predicted the company could realize $2.6 billion in annual payments revenue by 2021 as a result of its shift to an in-house payments system that gradually displaces long-time provider PayPal Holdings Inc. and relies on back-end processing by Adyen.
  • Payment-technology provider MagTek Inc. announced the availability of QwickSign, an electronic signature service developed with AssureSign, a specialist in e-signature technology.
  • Merchant processor Clearent LLC rolled out its Cloud EMV payments service following integrations with several of its independent software vendor partners.
  • Point-of-sale equipment maker Ingenico Group announced distribution deals with five retail and hospitality software vendors, including NCR Corp.’s NCR Silver, PayMyTab, SecureTablePay, eTouchMenu, and iMobile3.
  • Cross-border payments processor TransferWise has become the first nonbank company to gain direct access to the United Kingdom’s 10-year-old faster-payments system. The startup, which was founded in 2011, processes more than $2 billion in payments monthly and has been trying for five years to gain a settlement account in the Bank of England’s Real Time Gross Settlement System, according to its executives.
  • U.S. Bancorp, owner of merchant acquirer Elavon, reported $363 million in first-quarter merchant-processing revenues, up 2.5% from $354 million a year earlier.
  • Chevrolet and Shell announced what they say is the first fuel-payment system embedded in an automobile dash. The system, which offers fuel discounts and works with select vehicles at select stations, is in pilot and is expected to roll out nationally over “the coming months,” the companies say.
  • Elevate Credit Inc., a credit provider for non-prime consumers, announced a collaboration with Mastercard Inc. to develop a new credit product for the approximately 160 million Americans with low or no credit scores. The credit card is expected to launch this year and will feature on/off functionality, credit-score monitoring, and a companion app.
  • The PCI Security Standards Council published updated data-protection guidelines for cloud-computing systems that handle payment card data.

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