- Bank of America Corp. says it has 8 million active users of the bank-backed Zelle person-to-person payment service and that it handled 69 million Zelle transactions in the second quarter, nearly double the 35.2 million transactions a year earlier. BofA had 5.4 million Zelle users in the 2019 first quarter. The value of the Zelle transactions was $18 billion versus $10 billion in 2018’s second quarter.
- U.S. Bancorp, owner of merchant acquirer Elavon, reported $404 million in second-quarter merchant-processing revenues, up 4.4% from $387 million in the year-earlier period.
- Point-of-sale software provider Lightspeed POS Inc. closed on an acquisition of iKentoo, a POS software provider based in Switzerland. Terms were not announced.
- Merchant processor Square Inc. said sellers who use its Square Online Store service can now sell on Instagram.
- Online travel site CheapAir.com is working with installment-payment provider Affirm Inc. to allow customers to pay for trips over time. CheapAir.com has stood out among online travel agencies for its willingness to accept cryptocurrencies.
- Facebook Inc. privately presented its Libra white paper to more than a dozen federal regulators last month, some of whom left the meeting “stunned that Facebook wasn’t more prepared to address concerns about money laundering, consumer protection and other potential financial risks” posed by the proposed cryptocurrency, The Washington Post reported.
- ATM manufacturer Diebold Nixdorf Inc. said First Horizon National Corp., parent of First Tennessee Bank and Capital Bank, will upgrade its software and hardware in its ATM fleet.
- Mississippi County in Arkansas has begun allowing residents to pay property tax online via a system developed by NIC Inc.
- Blackhawk Network Holdings Inc. said 47% of companies canvassed in its latest research offer rewards programs.
- Processor Jack Henry & Associates Inc. announced it promoted general manager of sales and marketing Steve Tomson to vice president of sales and marketing.
- Security-services provider ControlScan named Sam Pfanstiel director of its security consulting services, a new position at the company. Pfanstiel is vice chair of the Electronic Transactions Association’s Risk, Fraud, and Security Committee.
Cash may still be king among consumers for purchases of $10 or less, but its …