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ParTech Acquires Menu Technologies And Other Digital Transactions News briefs from 8/9/22

  • Restaurant-technology provider ParTech Inc. announced it has acquired Menu Technologies AG, an omnichannel ordering platform serving international restaurant brands. Terms were not disclosed.
  • The Western Union Co. expanded its integration of Visa Direct, Visa’s real-time payment service, to its U.S. network, enabling consumers to send or receive funds directly to their eligible Visa debit cards.
  • With Apple Inc.’s entry in the market, the number of merchants worldwide adopting so-called soft POS technology will grow from 6 million this year to 34.5 million by 2027, according to a forecast from Juniper Research. Soft POS allows merchants to accept NFC card payments on consumer-grade mobile devices with no external hardware.
  • Total spending on Bank of America Corp. payments products grew 7% in July compared to July 2021, according to a report from the Bank of America Institute, established earlier this year. These products include credit and debit cards, ACH, wires, bill pay, peer-to-peer, cash, and checks. Spending on gasoline fell to 9.3% on average as a share of total card spending for households with $50,000 or less in income, down from nearly 10% in June.
  • Avivatech LLC, a provider of check and cash automation technology for banks and retailers, launched a platform for banks to automate check processing. The company argues improved processing is vital as average check tickets are increasing as check volumes decrease.
  • The town of Newburgh, N.Y., has launched its first mobile app to pay for municipal parking spaces. The app is from Passport Parking. Nearby towns Rye, Larchmont, and Pelham also use Passport’s app.
  • Payments platform Edenred launched Edenred Essentials, a Visa-branded commercial card for fleet-vehicle expenses including fuel and electric-vehicle charging.

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