Saturday , October 24, 2020

Repay Adds Funding Integration and other Digital Transactions News briefs from 4/9/20

  • Payments-software provider Repay Holdings Corp. said it has integrated with lending-software vendor TurnKey Lender Inc., allowing financial institutions to fund loans at any time of day and accept loan payments by card or via the automated clearing house network through TurnKey’s platform or through mobile apps or other channels available to consumers.
  • Upgrade Inc., issuer of the Upgrade credit card since October, launched contactless and digital versions of the product, with the digital card compatible with the Apple Pay and Google Pay wallets. The move comes in response to calls from the World Health Organization for consumers to use contactless cards and mobile payments when possible.
  • SphereCommerce LLC launched its hosted payment suite that enables software vendors to accept payments in multiple channels with a single integration.
  • Merchant processor Paya said it is waiving set-up fees for its donor platform and helping organizations link to the platform quickly in response to difficulties faced by non-profit organizations in the midst of the Covid-19 pandemic.
  • Social Finance Inc. will buy payments processor Galileo Financial Technologies Inc. for $1.2 billion in cash and stock. Social Finance, popularly known as SoFi, is best known for its student-lending technology. Galileo provides bank-account links and processing services to a wide range of financial-technology companies. In November, Galileo launched Instant Issuing, a service that allows developers to use a portal called Galileo Dashboard to access the company’s application programming interfaces to create instant debit cards.
  • Prepaid program manager Blackhawk Network Inc. said it has completed its acquisition of SVM Cards, an issuer of open- and closed-loop prepaid cards. Terms were not disclosed.
  • Payroc LLC appointed Paul Vienneau chief technology officer. He most recently was CTO of merchant solutions at Total System Services Inc., or TSYS.

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