Thursday , July 16, 2020

Maverick Payments Debuts Gateway and other Digital Transactions News briefs from 6/22/20

  • Maverick Payments launched its payment gateway, which supports 3-D Secure, account updaters, and interchange optimization.
  • Digital-payments technology provider announced a $150 million Series B funding round, valuing the company at $5.5 billion. The round, led by technology fund Coatue, tripled the company’s value.
  • ATM and point-of-sale hardware and software provider Diebold Nixdorf Inc. said it generated revenues of $1.4 billion from Jan. 1 through May 31, down 17.4% from the same period a year earlier. The company attributed the majority of the reduction to unplanned delays caused by the Covid-19 pandemic.
  • Cubic Corp.’s Cubic Transportation Systems unit said its TouchPass fare-payment system will be integrated with InComm’s reload network, which includes 55,000 retail locations in the United States.
  • In related news, InComm announced that customers of electric utility Reliant can pay their bills from their stored-value accounts using a bar code at 10,000 retail locations in Texas.
  • Visa Inc. introduced Advanced Identity Score, which relies on artificial intelligence and machine learning to produce a risk score for new account applications at financial institutions. New-account fraud accounts for $10 billion in losses yearly, according to Visa.
  • In related news, Visa announced the Visa Economic Empowerment Institute as part of a new effort to help as many as 50 million small businesses globally adopt digital-payment methods amid the Covid-19 pandemic.

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U.S. Bancorp’s Merchant Revenues Plunge and other Digital Transactions News briefs from 7/15/20

U.S. Bancorp, owner of merchant acquirer Elavon Inc., saw merchant-processing revenues decline 34% year-over-year in …

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