- Repay Holdings Inc. announced the acquisition of TriSource Solutions for up to $65 million. TriSource, founded in 2007, provides back-end transaction-processing services to independent sales organizations. TriSource has been Repay’s primary third-party processor for back-end settlement since 2012.
- The U.S. District Court in Cleveland approved a $4.3 million settlement of a class action filed on behalf of credit and debit card holders whose card information was compromised in a 2017 data breach at 325 Sonic Corp. fast-food restaurants. Sonic estimated the class has about 1.5 million members, according to a press report.
- The U.S. Payments Forum released its latest Market Snapshot that says 64% of in-store payment terminals are chip enabled and 68% of total transactions are chip-on-chip, meaning a chip card was used at a chip-enabled terminal.
- Net Element Inc. said it had $950 million in transaction-processing volume in the second quarter, up 8.5% from a year ago.
- Credit card balances totaled $868 billion in the second quarter, a shade below the record high of $870 billion set in 2018’s fourth quarter, according to the Federal Reserve Bank of New York’s latest household debt and credit report. Before 2018, credit card debt hit a high of $866 billion in 2008’s fourth quarter and bottomed out after the Great Recession at $659 billion in 2014’s first quarter.
- Southern California’s OneWest Bank said the Zelle person-to-person payments service is now available in its mobile app.
- Bluefin Payment Systems LLC received from the U.S. Patent and Trademark Office a patent for managing payload decryption via fingerprints.
- Point-of-sale equipment maker Star Micronics said Cova Software, developer of cannabis retail software, supports its mC-Print3 printers.
- Coil, a service to enable payments to online content creators, said it received 1 billion in XRP, the Ripple-backed cryptocurrency, from Xpring, Ripple’s investment unit. Coil will use the funds to drive adoption of XRP.
PayPal Holdings Inc. has made no secret of its push to generate revenue from its …