Saturday , July 2, 2022

Toast Renews US Foods Deal and other Digital Transactions News briefs from 5/16/22

  • Toast Inc., a payments-technology provider specializing in restaurants, said it has renewed its collaboration with US Foods, a distributor serving approximately 250,000 U.S. restaurants and foodservice operators.
  • Investment firm Thoma Bravo has closed on its $2.6-billion acquisition of business-to-business payments provider Bottomline Technologies Inc. The deal was announced in December and approved by Bottomline stockholders in March. Former ACI Worldwide executive Craig Saks is taking over as chief executive, succeeding Rob Eberle, who will remain with the company in an advisory role.
  • Payments provider Dwolla Inc. said it expects the recent move by Nacha to increase the dollar limit on same-day automated clearing house transactions will raise adoption of the faster-payment option. The increase, which took effect March 18, moved the limit up to $1 million from $100,000.
  • BlueTape, a 2-year-old installment-lending firm for general contractors, launched a virtual card allowing contractors nationwide to finance building supplies at any store.
  • Priority Technology Holdings Inc. announced chief financial officer Michael Volkommer will retire from the company effective Sept. 1. Volkommer has been CFO since 2018.
  • Technology-services firm Mindtree will host Finastra’s Fusion Payments to Go technology in the cloud for financial institutions in the Nordics, the United Kingdom, and Ireland. Payments to Go enables payments processing and clearing through open application programming interfaces.

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