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March 31, 2021

On the web

Online Payments Company Paysafe Going Public in SPAC Merger Tuesday, Bill Foley Says


“London-based online payments company Paysafe is set to begin trading on U.S. public markets after merging with blank-check company Foley Trasimene Acquisition II Corp , billionaire business and sports executive Bill Foley told CNBC Monday. Foley, who set up the special purpose acquisition company, or SPAC, announced in December that it was targeting Paysafe in a deal valuing the firm at about $9 billion, including debt.”

December 21, 2020

On the web

From Then to FedNow: Payments Innovation and the Federal Reserve


“In August 2020, the Federal Reserve achieved a key milestone in FedNow’s development, marked by the announcement of the service’s features and functionality.5 At initial release, planned for 2023 or 2024, the service will provide a clearing and settlement infrastructure that enables participating financial institutions to provide safe and efficient instant payment services in near real-time, around the clock, 365 days a year.6 FedNow instant payments will continue the Fed’s longstanding commitment to, and role in, supporting safe, accessible, and efficient payments in the United States.”

October 21, 2020

On the wires

Jack Henry Joins ABA in Helping Bankers Promote Financial Inclusion

“Jack Henry & Associates, Inc.® (NASDAQ: JKHY ) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking ® division announced today that, as part of an American Bankers Association (ABA) initiative, it has committed to equipping banks nationwide with Bank On -certified accounts. These accounts are designed to serve the unbanked and underbanked population with modern banking services, including robust transaction capabilities such as debit or prepaid cards and bill pay – all at a low cost and without overdraft fees.”

October 19, 2020

On the wires

Global Processing Services Continues International Growth with Visa Investment

“Leading payments issuer processor, Global Processing Services (GPS) has secured a strategic investment from strategic partner, Visa Inc., the world’s leader in digital payments. Backed by UK growth private equity firm, Dunedin, this strategic investment will accelerate GPS’ global expansion, following its success in launching new and innovative fintechs and digital banks in Europe and South East Asia, including Revolut and Starling Bank.”

October 5, 2020

On the wires

May 27, 2020

On the wires

May 13, 2020

On the wires

COVID-19 Is Rapidly Reshaping Consumer Banking and Payments Behaviors, New FIS Survey Finds

“The COVID-19 pandemic and government measures to slow its spread are altering the way Americans bank, pay and shop on an unprecedented scale and with rapid speed, according to a survey released today by financial services technology leader FIS ™ (NYSE: FIS). FIS surveyed more than 1,000 American consumers about the ways they are paying and banking amid social distancing and stay-at-home actions taken across the U.S. since the COVID-19 outbreak. The findings indicate that the pandemic has accelerated the digital transformation of banking and commerce, and that these adjustments likely will not be temporary but rather mark a new normal in consumer behavior in a post COVID-19 marketplace.”

May 4, 2020

On the wires

100 Financial Institutions to Provide Real-Time Payments With Jack Henry

“Jack Henry & Associates, Inc. (NASDAQ: JKHY ) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. The company announced today that there are more than 100 financial institutions implementing its faster payments hub, JHA PayCenter™, to connect to Early Warning Services’ Zelle Network® and The Clearing House’s RTP® network. Jack Henry is the first third-party service provider to connect a financial institution, Dallas-based Pegasus Bank, to the RTP network and process live transactions. The $750 million-asset bank is offering its consumer and commercial customers the ability to receive real-time payments sent by accountholders from other participating financial institutions without incurring interbank settlement risk.”

May 1, 2020

On the wires

FIS Offers Simplified Contracting and Pricing Model for Qualifying Community Banks and Credit Unions

“Financial services technology leader FIS ™ (NYSE: FIS) today announced a simplified pricing and contracting model for qualifying U.S. community banks and credit unions that enables them to bring innovative new products and services to market more quickly, control expenses, and maximize the efficiency and resiliency of their operations – better positioning them for success as the economy recovers from the current health crisis.”

January 30, 2020

On the wires

JHA BankAnywhere Offers Open, Digital Banking Platform

“Henry & Associates, Inc. (NASDAQ: JKHY ) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking ® division today introduced JHA BankAnywhereSM, a cloud-based digital banking system built on proven core and digital platforms. JHA BankAnywhere is available to any bank regardless of its existing core system and can be hosted by Jack Henry’s Gladiator® Hosted Network Solutions™ .”

December 19, 2019

On the wires

Worldpay From FIS Opens New Doors for JCB Card Acceptance in Japan

FIS ™ today announced an agreement with JCB, the leading issuer and acquirer in Japan and a global payment network. Worldpay, FIS’ global eCommerce platform, will allow businesses operating in Japan to accept payments by JCB cards. With this agreement, Worldpay now provides a comprehensive eCommerce solution for enterprise merchants operating in Japan. Worldpay merchants selling online in Japan will now be able to streamline their payments technology and settlements by accepting more types of card payments through a single integration rather than multiple third-party contracts.”

November 19, 2019

On the wires

PSCU Announces $100 Million in Multi-Year Investments

“The investments will further enable PSCU to provide an end-to-end payments platform in an integrated environment for a fully customizable and seamless experience. The focus will be on accelerating the development of technology, solutions and operational initiatives, including modernizing existing infrastructure, leveraging cloud technology and driving efficiencies through robotics and artificial intelligence. In addition, a significant investment will be made to further enhance Lumin Digital, PSCU’s industry-leading digital banking platform.”

July 11, 2019

On the wires

DIMOCO PSP Becomes Independent and Licensed Mastercard Merchant Acquirer

“DIMOCO Payment Services today announces the completion of the process to become a member of Mastercard. As an independent and licensed merchant acquirer, DIMOCO integrates credit card acceptance and payment processing with a single contract, connection and settlement. According to the time table of the company, the membership approval process with other leading international schemes are ongoing, and finalisation is to be expected in Q4 2019.”

May 13, 2019

On the web

A $90 Billion Fee Pool Beckons as BofA Considers First Data Split


Bank of America Corp. is about to decide just how big it wants to be in payments.    Executives at the lender have only weeks left to tell First Data Corp. whether they want to wind down a decade-old joint venture scheduled to renew automatically in mid-2020, according to an April regulatory filing. Known as Bank of America Merchant Services, the unit helps retailers and other clients handle electronic payments. But Bank of America could offer those services directly, potentially strengthening ties with customers and earning more.”

April 11, 2019

On the web

Small Banks Rebel Against the Most Important Tech Firms You Have Never Heard Of

Wall Street Journal (paywall)

“Lead Bank, a community lender in Kansas City, Mo., wanted to offer the payments app Zelle to its customers. But it had a problem. A company called Fiserv Inc. which provides much of the bank’s underlying technology, said Lead wouldn’t be able to launch Zelle until June at the earliest. Big U.S. banks rolled out the service nearly two years ago.”

April 9, 2019

On the wires

TSYS’ Genius Now Supports EBT SNAP Payments in New Vertical

“TSYS (NYSE: TSS) announced today that their Genius platform now supports EBT SNAP (Electronic Benefits Transfer; Supplemental Nutrition Assistance Program) payments. The Genius platform can now integrate with a new set of POS providers, positioning it to serve a broader range of businesses across the United States – especially convenience stores and specialty grocery retailers.”

February 5, 2019

On the wires

December 13, 2018

On the wires

Galileo and Robinhood Partner on Robinhood Checking & Savings

Galileo, a leading and trusted technology partner for fintech and payments, today announced that its technology and know-how is helping to power Robinhood Checking & Savings, unveiled this morning in a blog post from Robinhood. Galileo’s highly customizable payments infrastructure has been integrated into Robinhood Checking & Savings, which earns three percent annual interest, has no fees, and offers access to over 75,000 free ATMs.”

October 30, 2018

On the wires

Bank of America Merchant Services and talech Team Up to Meet the Unique Needs of Full-Service Restaurants and Bars

“Bank of America Merchant Services, a leader in payments, eCommerce and security solutions, and talech, a pioneer in cloud-based restaurant management software, are teaming up to help full-service restaurant and bar owners with one or more locations run their businesses more efficiently through a new, innovative point-of-sale solution.”

October 29, 2018

On the wires

First Data to Support Royal Bank of Scotland to Deliver Merchant Services to U.K. Businesses

“First Data (NYSE: FDC), a global leader in commerce enabling technology, announced today it has signed an agreement with Royal Bank of Scotland Group (RBSG) to provide merchant services to business customers throughout the U.K. This aligns with RBSG’s commitment to provide the very best service to its customers and will be supported by First Data’s processing and support services and market-leading Clover smart terminals.”

October 10, 2018

On the wires

Gap Inc. Selects Adyen As Payments Partner

“Adyen’s payment technology will be rolled out in over 150 stores across four countries – UK, FranceItaly and Ireland – and will enable Gap Inc. to provide a consistent experience across different markets. The online business for both Gap and Banana Republic will also use the payments platform, offering a unified experience across online and in-store.”

October 1, 2018

On the web

Brazil payments processor Cielo struggles against upstarts


“Brazilian payment processor Cielo SA’s once fat margins have been decimated by rivals who lease or sell credit card terminals to merchants for a fraction of what the market leader has long charged. Now Cielo is fighting back, offering services such as inventory management and market intelligence tools to justify its premium pricing and retain its core payments clients, two sources close to the company said.”

September 7, 2018

On the web

As even small merchants sell globally, payments industry faces bigger demands


“Within the past decade or so, a growing number of payments platforms has targeted international e-commerce transactions, and with good reason. Research firm Forrester predicts that cross-border e-commerce will outpace domestic growth, with a compound annual growth rate of 17 percent between 2017 and 2022, compared with 12 percent for overall B2C ecommerce.”

September 5, 2018

Top Post

Visa Stored Credential Framework: Processing Improvements for Vaulted Cards

Braintree blog

“Visa recently announced a framework and new requirements for merchants that store payment methods for future transactions so their customers can check out faster online. The Visa Stored Credential Framework applies to all Visa transactions made with stored payment methods — regardless of whether they’re processed from Braintree’s Vault or via an external vault. This framework will be rolled out globally over the next few months, starting with Braintree Direct merchants located in the US and APAC regions in August.”

August 1, 2018

On the wires

Aliant Payment Systems Launches Domestic Crypto Payment Solution

PR Newswire

“Aliant Payment Systems, a U.S. based provider of merchant services and payment processing, announced today that it has developed a new domestic crypto payment solution that offers merchants next day payouts. The payment solution, which was designed in-house, processes crypto payments for new and existing merchants and converts cryptocurrency to USD. It features a new web interface, an API for e-commerce integration, mobile applications for IOS and Android, a virtual terminal with an email invoicing feature, and a risk monitoring tool and reporting.”

May 15, 2018

Top Post

Worldline’s $2.75 Billion Deal For Six Payment Services Sets Stage For More Consolidation


“Worldline’s $2.75 billion deal to buy the payments unit of Swiss exchange operator SIX Group, announced on Tuesday, could herald more consolidation in the industry, SIX’s chairman told Reuters. France’s Worldline beat competition from U.S. bidders to land the SIX business, reflecting a drive by financial sector companies to gain scale to benefit from the shift towards electronic and online payments.”

May 11, 2018

On the web

Merchant acquirer Evo Payments sets terms for $210 million IPO

Renaissance Capital

“Evo Payments, which provides payment processing services to merchants and financial institutions, announced terms for its IPO on Thursday. The Atlanta, GA-based company plans to raise $210 million by offering 14 million shares (5% insider) at a price range of $14 to $16. At the midpoint of the proposed range, Evo Payments would command a fully diluted market value of $1.2 billion.”

May 8, 2018

On the web

May 1, 2018

On the web

A Walmart Win And Burgeoning ISV Transactions Buoy First Data’s Expectations

Digital Transactions News

“Processing giant First Data Corp. said on Monday Walmart Inc. has added Star signature debit acceptance to its roster of payment options. The company also noted that its integrated payments business continues to grow. Both observations came during the Atlanta-based company’s first-quarter earnings call with equity analysts.”

April 25, 2018

On the web

Incomm Flexes It’s Muscles Within the Prepaid Value Chain

Payments Journal

“This announcement changes the business’ public perception of InComm’s capabilities, they have always been known as a distributor and major processor for the gift card industry, but not in the General Purpose Reloadable (GPR) space.  This exposes the strength of InComm’s money distribution system that is spread among retailers throughout the United States which will provide a robust reloading capability which is necessary for GPR program’s success.”

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