- Online marketplace Shopify Inc. says it will add Venmo as a payment option, MarketWatch reported. PayPal Holdings Inc., Venmo’s parent, has been promoting a Pay With Venmo service to encourage more users of Venmo, known chiefly as a peer-to-peer payment app, to rely on the service for online purchases.
- The Bancorp Inc., owner of a major prepaid card issuing business, reported gross dollar volume of $12.5 billion on its prepaid cards in the third quarter, a 14% increase from $11 billion a year earlier. Prepaid card fee income increased 6% to $13.2 million.
- National Gift Card said it has invested $2 million in an expansion of its facility to 92,000 square feet to allow for the addition of three new machines for card affixing and mail insertion.
- Payments processor i2c is working with MO Tecnologias LLC, provider of a credit-scoring and loan-management platform, to enable instant loading of loans onto a card.
- Bank-software vendor Data Center Inc. launched a pilot program in which it is integrating into its iCore 3600 core-banking product fraud-prevention services from payments-software provider Quattro Processing Services. The integrated product is aimed at community banks. The two parties cite card fraud, which they say is projected to reach $31 billion by 2020, and check forgery, estimated at 500 million items annually in the U.S., as pressing needs for software that can reduce fraud exposure for community banks.
PayPal Holdings Inc. has made no secret of its push to generate revenue from its …