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- Processor Stripe Inc. launched the Stripe Corporate Card, a Visa credit card that can be branded with the merchant’s logo. New merchants can get a card when they sign up for a Stripe account. In addition to 2% and 1% cash-back rewards, the card also offers $50,000 in free payment processing after the first $5,000 spent using the card. The card is issued by Celtic Bank, an industrial bank. In related news, Stripe expanded into eight more European countries: Estonia, Greece, Latvia, Lithuania, Poland, Portugal, Slovakia, and Slovenia.
- Shopping-cart provider 3dcart completed an upgrade of its point-of-sale module that enables a connection to Stripe Terminal, Stripe’s product that enables online merchants to accept in-person payments.
- Cloud-based point-of-sale provider Revel Systems launched Revel Integrated, a service to help third parties develop software for the POS system.
- MoneyGram International Inc. launched a debit card deposit service in conjunction with Visa that uses Visa Direct, the card brand’s push-payments platform. The move means U.S. MoneyGram customers can send money domestically to eligible debit cards. Pricing starts at $1.99. MoneyGram expects to expand the service to other markets.
- Shopify Inc., a provider of business services, including payments, to small merchants, agreed to acquire 6 River Systems Inc., a vendor of warehouse-fulfillment services. Shopify launched its Shopify Fulfillment Network, along with new payment services, in June. The transaction is valued at $450 million and is expected to close in the fourth quarter.
- U.S. Bank acquired talech, a 7-year-old provider of payments integrated with other point-of-sale services to more than 8,000 restaurants, retailers, and professional-services providers. Its processing volume totals $2.3 billion annually. Terms of the deal, which closed Monday, were not disclosed.
- Merchant processor EVO Payments Inc. acquired Delego Software Inc., a provider of integrated-payments products for business-to-business customers using SAP SE’s software. EVO and Delego, which has offices in London and Kitchener, Ontario, previously had co-marketed their services through a partnership. Terms of the acquisition were not disclosed.
- Rewards platform provider Cardlytics Inc., which conducted an initial public offering in February 2018, announced a secondary stock offering of 2.69 million shares. The company is selling 1.5 million shares and existing stockholders are selling 1.19 million shares. Cardlytics will not receive any proceeds from the stockholders’ sale.
- Fraud-control services provider ControlScan Inc. said it will aid payment facilitators served by the Worldpay merchant-processing division of Fidelity National Information Services Inc. (FIS) in complying with the Payment Card Industry data-security standard.
- Jack Ma has resigned as chairman of Alibaba Group 20 years after founding the e-commerce giant, whose properties include the global Alipay mobile-payments service. Alipay has recruited U.S. merchants in recent years to cater to Chinese tourists coming to America. Alibaba chief executive Daniel Zhang is succeeding Ma.
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