Monday , November 11, 2019

Shopify Acquires 6 River Systems and other Digital Transactions News briefs from 10/18/19

  • Payments and retail-technology provider Shopify Inc. announced it has closed on its acquisition of 6 River Systems Inc., a developer of cloud-based software and mobile robots for fulfillment. Terms were not announced.
  • Fast Park, which operates parking garages near airports, announced it will accept credit and debit cards exclusively for payment at all 17 of its facilities. The decision stemmed from what the company says was a successful pilot of card-only acceptance at three garages.
  • PNC Treasury Management, a unit of PNC Bank N.A., said it has begun offering so-called intelligent routing technology for real-time payments and same-day and next-day automated clearing house transactions. An option for wire transfers will be added early next year.
  • Mobile-payments provider ZipLine said its Payment Trends in the United States survey found that 70% of 500 adults are more likely to shop with merchants that offer rewards programs.
  • Merchant processor Square Inc. introduced an add-on to its Square Appointments service called Square Assistant that allows customers to respond directly to SMS appointment reminders, automatically replies to customers, and handles booking-related tasks without needing any action by the merchant.
  • Airline payment network Universal Air Travel Plan Inc. (UATP) said its transaction count increased 14% in the third quarter from year-earlier levels while charge volume grew 2%. The size of the average transaction declined 11%. UATP did not disclose actual figures.
  • A startup called Acinq launched a Bitcoin wallet on the Lightning Network, which speeds up Bitcoin transactions by bypassing network congestion. The wallet, called Phoenix, is said to clear payments in less than three minutes.
  • Payments-industry veteran Peter Gordon has been hired as head of emerging payments product and strategy at U.S. Bank. Gordon arrives with long experience in leading real-time payments initiatives.

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