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- PayPal Holdings Inc. reported $7.3 billion in June-quarter net revenue, up 7% year-over-year, as total payment volume grew 11% to $376.5 billion. Payment transactions were up 10%, to 6.1 billion. Total active accounts increased only slightly to 431 million from 429 million a year ago. Net income swung from a loss of $341 million in last year’s June quarter to $1.03 billion.
- NCR Corp. reported $1.99 billion in second quarter revenue, virtually flat from the second quarter of 2022. Net income, however, of $18 million in the most recent quarter was down 58.1% from $43 million in the same period a year ago. One component of the decrease is the increase in interest expense to $91 million from $67 million a year ago. NCR announced in July the names of its ATM spin off and its remaining digital-commerce business, a move expected in the 2023 fourth quarter. NCR also announced an integration with Autobooks, enabling financial institutions serviced by both to access NCR’s payments services and Autobooks’ account tools.
- Payments provider ACI Worldwide Inc. reported June-quarter revenue of $209.7 million, up slightly from $207 million in the year-ago period. Operating income slumped to $10.5 million from $24.5 million, as net income swung to a loss of $6.7 million from a positive $13.3 million.
- A surge in June-quarter transaction revenue helped drive up overall revenue 20% year-over-year, to $209 million, for payments-technology provider Lightspeed Commerce Inc. The company narrowed its net loss to $48.7 million from $100.8 million.
- Payments provider Clearent by Xplor launched an improved merchant onboarding platform to help agents, independent sales organizations, independent software vendors, and referral agents with quicker merchant verification and underwriting. The platform also includes auto reminders, save options, and equipment ordering.
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