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- SoundHound AI Inc. said it will acquire SYNQ3 Restaurant Solutions, a voice artificial intelligence and technology provider for restaurants, in a deal valued at $25 million. Once completed, the deal will extend SoundHound’s services to 10,000 locations and more than 25 national and multinational chains. The deal is expected to close in the 2024 first quarter.
- Credit card technology provider Brim Financial announced a partnership with Mastercard Inc. in which the companies say they will work to stimulate innovation in U.S. credit card technology and in which Brim will incorporate open-banking technology from Mastercard.
- Car IQ Inc., a provider of vehicle-based payments technology, agreed to process fuel payments for drivers using vehicles from Fluid Truck, an online lessor of trucks and other commercial vehicles.
- Point-of-sale payments technology provider FreedomPay said it agreed to incorporate Citi Pay installment-loan services from Citi Retail Services for interested merchants.
- Satisfaction with credit cards tailored for use by small businesses stands at 858 on a 1,000-point scale, up seven points from last year and nine points from 2019, according to the latest J.D. Power U.S. Small Business Credit Card Satisfaction Study. Businesses are most satisfied with American Express, which scores 873, followed by Capital One at 866 and PNC at 858.
- Emburse, a travel and expense management specialist, said it will use Mastercard as the new payments network for the Emburse Card.
- Card manufacturer Tag Systems said it received Mastercard certification for a biometric-authenticated card based on technology from Fingerprint Cards and STMicroelectronics.
- Some 37% of consumers like making online purchases from small businesses because they don’t have to shop in person, found the latest “Lost in Transaction 2023: The Disposable Income Report—How consumers are changing their discretionary spending” report from Paysafe. Other top reasons were a more personalized experience, cited by 32%, and buying local, 31%.
- Former FIS executive Jerry Uffner joined payments fintech Usio Inc. as senior vice president of card-issuing sales. Most recently, Uffner was president of payments provider Tern Commerce Inc.
- PayPal Holdings Inc. named Suzan Kereere president of global markets, effective Jan. 1. Kereere comes to the company from Fiserv Inc., where she headed global business solutions and formerly served as chief growth officer. Prior experience includes roles at Visa Inc. and American Express Co.
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