Sunday , July 12, 2020

Visa Names Chief Strategy Officer and other Digital Transactions News briefs from 5/28/20

  • Visa Inc. appointed Chris Newkirk as chief strategy officer, a newly created position in which he will lead strategic planning for Visa overall and work with Visa’s regional teams. Newkirk, who will report to chairman and CEO Al Kelly, comes to Visa from Capital One Financial Corp., where he held a number of leadership roles. Before joining Capital One in 2008 he was an executive at IndyMacBank.
  • Fraud-prevention specialist Signifyd released its weekly e-commerce sales trend analysis that found that online sales increased 1% from the week before, yet is still 51% higher than the last week of February.
  • Sony Innovation Fund, the electronics giant’s investment arm, has invested in MagicCube Inc., developer of software that allows secure PIN entry on ordinary, off-the-shelf mobile devices. The amount of the investment was not disclosed. Other investors include venture funds as well as Visa Inc. and NTT Data Corp.
  • In related news, Marqeta Inc., developer of a global card-issuing platform whose clients include Affirm, Instacart, Square, and Uber, announced a $150 million capital raise that values the company at $4.3 billion. The identity of the investor was not released. The platform had issued more than 140 million cards through 2019, the 10-year-old company said.
  • E la Carte Inc., which under the name Presto markets point-of-sale payment technology to restaurants, released its Contactless Dining Kit, which allows customers to use their own smart phones to scan an NFC tag or Quick Response code to view a menu, place an order, and pay at the table.
  • PruPay Touchless Payments said it is working with PayPal Holdings Inc. to offer merchants a platform allowing customers to pay via text messaging. The technology includes a control panel, customization of fees for such items as delivery, and an order-management dashboard.
  • The city of Colorado Springs said it is working with parking-app provider ParkMobile LLC to allow contactless payment at some 2,400 metered spaces throughout the city.
  • Payments provider Base Commerce LLC said it acquired the merchant accounts of LucentPay. Terms were not disclosed.
  • Payments provider Fattmerchant said it is working with Finix Payments Inc. to make it easier for software companies to become payment facilitators.

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