Sunday , August 9, 2020

Repay Acquires cPayPlus and other Digital Transactions News briefs from 7/24/20

  • Payment processor Repay Holdings Corp. acquired cPayPlus LLC, a provider of accounts-payable automation technology. Repay paid $8 million at closing and could pay $8 million more in 2021’s third quarter depending on cPayPlus’ achievement of growth targets.
  • After a limited release in May, a 3-year-old challenger bank called Dave announced it will issue debit cards on the Mastercard network.
  • The U.S. Mint said that reduced retail activity and significantly reduced deposits from third-party coin processors has cut into coin circulation. Until these patterns return to normal, it may be difficult for merchants to accept cash, which can be the only form of payment available to many consumers.
  • ATM network owner Cardtronics plc and coin recycler Coinstar Asset Holdings LLC this week launched a video campaign in support of cash; the companies founded the Consumer Payment Choice Coalition, which lobbies for federal, state, and local laws protecting cash as an option for retail payments.
  • Russia’s Duma, or parliament, passed a “Digital Financial Assets” bill that gives legal status to cryptocurrencies but bans them from being used as payment methods.
  • Former Venmo and Braintree executive Amit Jhawar has joined payments provider Galileo Financial Technologies Inc. as a special advisor.

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