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- Payments veteran and Harbortouch founder Jared Isaacman announced the formation of Lighthouse Network LLC, a company that will provide shared services, such as payment processing, merchant-support responsibilities, and corporate functions to Harbortouch, and eventually other brands, which could be acquired through strategic means, a Lighthouse Network spokesman said. Isaacman said in a press release that nothing changes for Harbortouch’s merchants or sales partners, and that Harbortouch remains the brand for the company’s Echo and Elite point-of-sale systems.
- Vantiv Inc. received a one-week extension on its decision to buy Worldpay Group plc for $9.9 billion, Worldpay announced Tuesday. Originally announced July 5, the deal stipulated that Vantiv had to provide a decision on whether to proceed with the acquisition or not. But, discussions are ongoing, causing Worldpay to request the United Kingdom Panel on Takeovers and Merchants extend the deadline to Aug. 8. Worldpay cautioned that while “positive discussions” are ongoing, there can be no certainty the deal will be consummated.
- Financial-services provider CardWorks announced three minority shareholders made investments in the company. CardWorks said the investment firms acquired less than 10% of the company in separate transactions, and that they have no controlling interest.
- Shopify Inc. reported a bigger second-quarter loss than a year ago, $14 million versus $8.44 million, but revenues surged 75% to $151.7 million as the e-commerce platform provider added new merchants. Gross merchandise volume grew 74% to $5.8 billion. Also, Shopify said it now services more than 500,000 businesses in 175 countries.
- ScanSource Inc. completed its planned acquisition of point-of-sale terminal and equipment distributor POS Portal.
- GiftLogic, a point-of-sale system developer, completed the certification process with Bluefin Payment Systems to integrate Bluefin’s payment processing service into its software. GiftLogic merchants can now accept EMV payments via a Pax Technology Inc. POS terminal.
- Payments provider Noventis Inc. said it can now provide small businesses with one-time-use virtual cards.
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