TSG is updating its annual Payment Gateway Directory, an essential reference tool for intelligence on payment gateways. Last year's Directory looked at 110+ payment gateway providers from large international players, to regional startups; make sure you're included!
Aurora Payments, LLC is thrilled to announce the acquisition of One Payment, a Florida-based fintech payment company. Co-founded by Luis Requejo and Jorge Calzadilla, One Payment boasts over 6,000 merchants in its portfolio with particular emphasis on minority-owned small and medium sized businesses. “The incredible year-over-year growth that One Payment has enjoyed has our team ecstatic about this acquisition,” said Aurora Payments CEO Brian Goudie. “One Payment adds significant value to Aurora with its roots on the East coast and accelerates our diversified go-to-market strategy”.
The Federal Reserve’s point person for bank supervision, Michael Barr, made his first public comments Wednesday since his July swearing-in, and while they were largely light on details, they may provide a template for his priorities. Here are 10 issues he raised during his speech at the Brookings Institution, potential timelines for actions and key thoughts
As prices rise, Americans are increasingly finding new ways to make ends meet. But with some necessary purchases, such as groceries, there are fewer options that don’t involve taking on debt. That makes the option to pay later — through companies such as Klarna, Zip, Zilch, Affirm and Afterpay — look increasingly attractive. About two-thirds of consumers have worried in the past month about affording groceries due to the rise of inflation, a recent survey found.
New research claims that Apple Pay has surpassed Mastercard in the dollar value of transactions annually, with its $6 trillion total meaning it's over halfway to equaling Visa. Since its launch in 2013, Apple Pay has seen rising adoption by users, banks, and retailers, until in 2021 it accounted for 92% of all mobile wallet debit transactions. Now, according to comparison site TradingPlatforms, Apple Pay is the second most popular digital payment system, beaten only by Visa.
Shift4 Payments Inc., which has built a large client base in the hotel and hospitality market, made a bid for greater share in the highly competitive restaurant POS market Tuesday with the introduction of SkyTab POS, a modular, Android-based software application that combines back-end functionality and point-of-sale capabilities in a single app. Features within SkyTab include online ordering and reservations, contactless and QR code, mobile devices for tableside ordering and payment, eGift cards, and loyalty.
JPMorgan Chase & Co. is considering buying a stake in Yapily, a financial technology startup that’s seeking to raise fresh funds, people familiar with the matter said. The US bank is in early-stage talks with London-based Yapily about the possibility of making an investment, the people said, asking not to be identified discussing confidential information. Yapily is looking to bring in capital as it closes in on its acquisition of finAPI, a provider of open banking solutions in Germany, one person said.
Instead of using cash or physical credit cards, Discover customers are increasingly paying for items with their digital wallets. We saw over a 40% increase in the number of Discover cardmembers who actively used digital wallets from 2020 to 2021. And we continue to see an increase in the user base. Why? Digital wallets simplify the shopper’s wallet.
September 7 marks one year since Bitcoin became legal tender in El Salvador alongside the US dollar. Today we look back at the first year of president Nayib Bukele’s crypto gambit. It has been a year in which the crypto-currency made few inroads into the daily transactions of the Salvadoran economy, the collapse of the price of Bitcoin left the government holding coins worth much less than when Bukele bought them, and a much-hyped "Bitcoin Volcano bond" to fund "Bitcoin City" is still nowhere to be seen.
Microsoft has told customers it will no longer be accepting payment by check as it looks to modernize its accounting systems. The Register(opens in new tab) uncovered an advisory(opens in new tab) from the computing giant issued to direct-bill partners transacting through its Cloud Solution Provider (CSP) program in the US and Canada confirming that it would not accept check payments from the end of this month. “Effective October 1, 2022, Microsoft will remove the check payment option from new commerce invoices.
Instacart’s purchase of Rosie continues its push to diversify beyond its origins and image as a delivery services provider for grocers. In a sign of the significance of the acquisition, Rosie’s staff will take the lead in developing Instacart’s strategy for serving independent food retailers, a “critical segment of the grocery industry” where Instacart is seeking to deepen its ties, according to the announcement.
We’re past Labor Day, which means playoff baseball, the Hocus Pocus sequel, and the holiday shopping season are all quickly approaching. This year, however, some curveballs for retailers—inflation and unreliable inventory levels—could cause companies to swing and miss on revenue. One way that retailers are trying to keep the bat on the ball is to increasingly move their holiday shopping up as a way to spread out promotions and sales
In its latest step toward becoming what GameStop Matt Furlong publicly termed a “customer-obsessed technology company” in a March 2022 earnings call, the retailer has entered into a partnership with cryptocurrency exchange FTX U.S. According to GameStop, the partnership is intended to introduce more of its customers to FTX’s community and its marketplaces for digital assets.
Lowe’s CMO exiting, Chico’s FAS nabbing Estee Lauder’s head of marketing and Target’s leadership changes are among the latest retail executive movements. Target will retain its chief executive Brian Cornell for approximately three more years, as a new agreement will keep the current CEO at the retailer into 2025, the retailer revealed in a news release. Additionally, Arthur Valdez, executive vice president and chief supply chain and logistics officer, will retire from Target.
The rise of fintech services and digital banking could spur financial risks and potentially a crisis over the long term, Michael Hsu, Acting Comptroller of the Currency, a major U.S. bank regulator, warned on Wednesday. "I believe fintechs and big techs are having a large impact and warrant much more of our attention," Hsu told a New York conference, noting the encroachment of fintech companies into the traditional financial sector, including via partnerships with banks, was creating more complexity and "de-integration" across the banking sector.
U.S. Securities and Exchange Commission Chair Gary Gensler is again calling on crypto projects and businesses to register with the agency. In prepared remarks at an event organized by the Practising Law Institute, Gensler said Thursday morning the “vast majority” of cryptocurrencies are securities and crypto investors buying such assets should get the protections they receive from regulated broker-dealers.
Companies that process payments for physician groups, hospitals and other healthcare providers are more vulnerable to hacks, information system breaches and ransom demands than their peers in other segments of the industry, cybersecurity professionals warn. In a report last month, cybersecurity firm Critical Insight noted that two fintechs were hit with ransomware attacks since July 1, exposing financial and healthcare data from almost three million patients.
Although the holiday season is still months away, consumers are already concerned about how they will afford this year’s gifts as prices continue to rise, several studies show. Roughly 40% of holiday shoppers said inflation is changing the way they shop, with most trying money-saving strategies, according to a new Bankrate.com report, such as buying fewer items or less expensive brands and using coupons, discounts and credit card rewards to offset costs.
Despite fears of a recession, the labor market is showing no signs of weakening. The number of first-time claims for unemployment benefits fell by 6,000 to 222,000 for the week ended September 3, according to Department of Labor data released Thursday. The initial weekly claims figure, which is at its lowest level in just over three months, is below the previous week's downwardly revised level of 228,000 and lower than economists' expectations of 240,000, according to Refinitiv estimates.
Jerome H. Powell, the Federal Reserve chair, signaled Thursday that the central bank will continue raising interest rates to convince the American public that it is serious about bringing soaring price growth back to normal levels, further cementing market expectations of another aggressive rate increase this month. “The longer inflation remains well above target, the greater the risk that the public sees higher inflation as the norm,” Mr. Powell said in a moderated discussion with Peter H. Goettler, the president and chief executive of the Cato Institute in Washington.
The bank is announcing it has recorded the most patents granted in the first half of any year in the company’s history. The U.S. Patent Office granted Bank of America 341 patents during the first half of 2022, which is a 50% increase, year over year. Patents granted include client focused innovations related to security, privacy, fraud detection, payment technologies, artificial intelligence, machine learning, and mobile banking. The bank has more U.S. patents than any other financial services company.
In the past five years, consumers and businesses, small and large, have sent more than five billion Zelle® payments, totaling nearly $1.5 trillion, according to Early Warning Services, LLC, the network operator of Zelle®. Zelle® users have leveraged the convenience and security of Zelle® to gift money, pay rent, reimburse friends and family for shared costs, receive reimbursements, or access money in critical moments, usually within minutes using Zelle®.
Elavon launched an expanded suite of Oracle integrated payments solutions for hospitality businesses in the United States and Canada. Now available on Oracle Cloud Marketplace, the integration of payments acceptance combines Elavon’s processing capabilities with Oracle’s industry-focused point-of-sale technology to provide a simple, unified hospitality payments experience.
BigCommerce has driven scale for a lot of technology firms looking to provide payments and digital services to tens of thousands of merchants. It now sees a chance to build scale for itself as well, by creating new connections for partners that would otherwise see themselves as rivals. A key driver of this initiative is the "super app" trend, wherein payment and e-commerce companies provide an abundance of unrelated services through a single app.
American Express announced it is piloting Amex Round-Up™, a new feature that makes it easier for Card Members to give back to the charities they care about. Starting today, and rolling out to select U.S. personal Card Members in the coming weeks, pilot participants can choose to round up their purchases to the nearest $1, $5 or $10 and contribute the extra funds to charities of their choice.
Paysafe, a leading specialized payments platform, announced a partnership with ClutchBet, the new Denver-headquartered U.S. mobile sportsbook from Australia’s BlueBet Holdings Ltd. The first stage of a multi-state partnership sees Paysafe’s revamped Skrill USA digital wallet and its Paysafecash eCash solution facilitate online payments for ClutchBet’s Iowa sportsbook and its players.
ISO Amp and North American Bancard today announced that ISO Amp has become the exclusive provider of statement analysis and proposal generation to NAB’s merchant Sales Partners. ISO Amp is a software and service solution that takes the grunt work out of statement analysis, freeing merchant sales reps to do what they do best: prospecting and sales. .
Repay Holdings Corporation, a leading provider of vertically-integrated payment solutions, announced Jones Healthcare Group, a market leader in advanced packaging and medication dispensing solutions, has selected REPAY to modernize the Canadian company’s payment experience, initially focusing on payment acceptance capabilities.
Checkout.com, the cloud-based payments service provider, today announces the launch of Integrated Platforms, a fully flexible, bespoke solution to support marketplaces and sellers in an evolving digital economy. Amidst the continued acceleration of marketplace adoption, up to 70% of ecommerce is expected to take place on marketplaces by 2025.
Lightspeed Commerce Inc., the one-stop commerce platform for merchants around the world to simplify, scale, and create exceptional customer experiences, has announced the initial launch of Lightspeed Restaurant in the Australian market - a unified hospitality commerce and point-of-sale (POS) platform to power Australia's restaurant revival.
authID, a leading provider of secure, mobile, biometric authentication solutions, announced that Kompliant, a U.S.-based, AI-driven, business onboarding and risk-scoring company, will integrate authID’s biometric authentication platform Verified™ to stop identity fraud and automate digital onboarding for its customers. Kompliant works with leading payment processors and sponsor banks, and will deploy authID’s reliable, high-speed identity authentication solution to streamline and secure online merchant application processing and transaction monitoring.
Ingenico, a Worldline Brand and Paysys (M) Sdn Bhd, a wholly owned subsidiary of GHL Systems Bhd. combine their business strengths to address the Malaysian payment market. In this mutually beneficial agreement, Ingenico will sell some of its business and customer assets in Malaysia to GHL. By creating this new operating model, Ingenico will reinforce its presence in Malaysia leveraging Paysys’ extensive market knowledge and bring Ingenico's broad range of payment solutions to open-up new opportunities with more customers and unlock new payment experiences.
Merchant’s PACT, a fintech payments company that analyzes and streamlines merchant services and accountholder data through core and digital platform integrations, announced MPACT Offers is now accessible through Jack Henry’s Banno Digital Platform. Merchant’s PACT leveraged the Banno Digital ToolkitSM, the same set of APIs the Banno Digital Banking Platform is built on, to embed their technology into the digital experiences offered by community and regional financial institutions.
Financial management startup Mesh Payments has landed $60 million in new funding, 10 months after its last raise. Founded in Israel and now with headquarters in New York, Mesh Payments is one of a growing group of startups focused on helping companies manage their spending through automation. It’s a hot and crowded space that includes the likes of Ramp, Brex and Airbase, and more recently, TripActions and Rho, among others.
