Payments News

On The Web

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Deals

Lightspeed to Acquire Germany’s Gastrofix to Snag More European Customers

“The purchase will allow Lightspeed to obtain more than 8,000 of Gastrofix’s European customer locations, expand to key regions across Europe, and solidify a stronger presence in Germany, Austria, and Norway. A spokesperson for Lightspeed told BetaKit that all Gastrofix’s team will be joining Lightspeed under the terms of the acquisition, as Lightspeed takes over […]
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Domains

New York Is Proposing the Creation of a ‘Public Venmo’

“For millions of people in the US, exclusion from the banking system is simply a fact of life. An estimated 14 million US adults don’t have bank accounts, forcing them to rely on exploitative check-cashing and payday loan services that charge high interest rates—and thus, eat away at funds needed for food, rent, and medical […]
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Domains

Mobeewave And Samsung Leverage Contactless With Fast Onboarding for No-Dongle Acceptance

“Mobeewave Inc. , a Montreal-based specialist in technology for contactless payments, said on Wednesday it is launching a streamlined merchant-onboarding process in connection with a payment-acceptance service it introduced in October with Samsung Electronics Co. Ltd. That service lets merchants accept contactless payments via a near-field communication link between the consumer’s card and the merchant’s […]
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Domains

Visa to Let Merchants Accept Contactless Payments on Android NFC Phones

““Tap to Phone makes it easy for sellers to use Android smartphones to accept payments without any additional hardware. It’s as simple as downloading an app. “This means millions more sellers everywhere will be able to accept contactless payments using current-generation mobile devices. Customers win too, as they’ll be able [to] make payments in seconds […]
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Domains

Western Union and Bharti Airtel Unveil Real-time Global Payments Into Millions of Bank Accounts in India and Mobile Wallets Across Africa

“Western Union , a global leader in cross-border, cross-currency money movement and payments, and Bharti Airtel Limited, a leading global telecommunications company with operations in 18 countries across Asia and Africa, today announced an unprecedented milestone in global money movement across the world’s significant emerging markets. The two industry leaders have come together to launch […]
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Domains

Why the Business-to-Consumer Payout Market Is a Hot Payments Niche

“Boston-based Aite estimated the size of this payout market in the United States at $10.7 trillion in 2018 on 3.5 billion transactions. The dollar value of disbursements to consumers over age 18 grew 78% from 2014-18. Based on a 2018 survey of 2,538 Americans, Aite estimated that 68% of consumers received funds disbursements via direct […]
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Deals

Tradeshift raises $240M and appears to put its expected IPO on hold — for now

“What this new funding means it that Tradeshift is effectively delaying its IPO to get its “house in order” in the context of a new economic environment that has become skeptical toward tech IPOs in the wake of the WeWork debacle, which saw public investors cool toward new tech company listings. Although the company isn’t […]

On The Wires

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Ingenico ICON Case Helps Merchants Design More Creative Mobile Checkout Experiences

“The iCON case provides an easier means of managing devices in-store. Currently designed for Ingenico’s Moby/8500 and Link/2500 mobile point of sale (mPOS) devices, the iCON case is a magnetic enclosure enabling in-store customer service, wait staff, concierges and others to easily attach and detach their preferred smart devices from their mPOS. This allows them […]
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Deals

WEX Signs Definitive Agreement to Acquire ENett and Optal

“WEX (NYSE: WEX), a leading financial technology service provider, today announced that it has entered into a definitive agreement to purchase eNett, a leading provider of B2B payments solutions to the travel industry and Optal, a company that specializes in optimizing B2B transactions, for a total consideration of approximately $1.7 billion, including approximately $1.275 billion […]