The common stock of biometric security provider BIO-key International Inc. was approved for listing on the Nasdaq Capital Market and will continue trading under the symbol BKYI. "Our Nasdaq listing is a significant milestone for BIO-key and our shareholders that underscores our ramping sales momentum so far this year," said Michael DePasquale, Chairman and Chief Executive Officer of BIO-key.
Clearent LLC received 2017 Top Workplaces honors by The Post-Dispatch based on an employee feedback survey administered by WorkplaceDynamics LLC. "We highly value the feedback we received from the survey and see it as an opportunity to learn and grow based on what our employees not only enjoy about Clearent, but also what they may need or want from us," said Melinda Vedder, Senior Vice President of Human Resources at Clearent.
Fintech startup incubator CSI Kick Start Inc. invested in ConnexPay LLC, whose consolidated merchant acquiring and virtual card issuing solution leverages CSI Enterprises Inc.'s globalVCard virtual card issuing technology to create a bridge between intermediary entities and outgoing business-to-business (B2B) suppliers. Through the integration, ConnexPay apparently offers merchants lower card acceptance fees and reduced bank sponsorship reserve requirements.
Elavon Inc. launched One Bill, a consumer-friendly, electronic billing solution for healthcare providers now available through Payment Navigator powered by InstaMed. One Bill is said to improve transparency by presenting a single consolidated patient statement, even if several services are provided during a visit or multiple visits occurred during the same billing cycle. One Bill also enables patients to make multiple payments for balances owed across a household.
GlobalOnePay, a division of Pivotal Payments Inc., launched an ecommerce payment facilitator platform that allows payfacs, marketplaces and software providers to generate revenue by offering global payment processing as an integrated, value-added service. By provisioning a single, master merchant account, the new platform provides an automated, real-time boarding experience, with simplified merchant account enrollment, the company said.
Stefan Dumitru and Florian Calin Crainic pleaded guilty before U.S. District Judge Esther Salas to charges of conspiracy to commit bank fraud. According to court admissions, Dumitru, Crainic, and 13 others convicted to date, sought to defraud PNC Financial Services Group Inc. and Bank of America N.A. and their customers by illegally obtaining customer account information in a scheme that used ATM card-reading devices and pinhole cameras to steal at least $428,581.
The National Retail Federation sent a letter asking the House Judiciary Committee to reject a bill that would block states from requiring online sellers to collect sales tax, and urged a public hearing. H.R. 2887 would bar states from requiring out-of-state online sellers to collect sales tax on sales made to residents, effectively writing into law a 1992 U.S. Supreme Court ruling that sellers only collect tax in states where they have a physical presence.
USAePay introduced Connection Manager Pro as part of its Payment Engine middleware library. An enterprise version of the device manager tool available in USAePay's virtual terminal, CMP enables companies to manage multiple EMV devices remotely. Through a single web interface, the solution allows developers to deploy multiple locations by remotely rebooting, restoring and re-pairing EMV devices, the company said.
USA Technologies Inc., an integrated cashless and mobile transactions solutions provider in the self-service retail market, closed its underwritten public offering of 9,583,332 shares of common stock at a price of $4.50 per share. The foregoing included the full exercise of the underwriters' option to purchase 1,249,999 additional shares from USAT. Gross proceeds to USAT totaled approximately $43.1 million.
In Payment Security Market by Solution (Encryption, Tokenization, and Fraud Detection and Prevention), Service (Integration, Support, and Consulting), Organization Size (Large Enterprises and SMEs), Industry Vertical, and Region - Global Forecast to 2022, MarketsandMarkets Research Private Ltd.predicted the global market for payment security will reach $24.63 billion by 2022, up from $11.39 billion in 2017. During that time, payment security solutions and the education vertical are expected to experience highest growth overall.
The Mercator Advisory Group report, Payment Acceptance in a Complex Environment: Banks, Watch Out, based on data from its Small Business Payments and Banking Survey for 2017, showed 59 percent of card-accepting U.S. small to midsize businesses (SMBs) use acquiring or merchant banks for payment processing services. Further, results indicated third-party card processing usage was 76 percent higher than merchant banks for payment processing services.
The Strawhecker Group's latest eReport, Payments Industry 101, offers a quick reference guide to understanding the U.S. payments industry, with material that covers the payments ecosystem and industry opportunity, with expert insights into merchant acquiring, credit card issuing and general industry trends. Sections include a Payments Industry Primer, Payments Market Sizing and Emerging Payments Trends.
Viewpost IP Holdings LLC issued results from a survey of U.S. consumers about perceptions pertaining to the future of payments. Overall, the survey found 80 percent of respondents supported "futuristic" payment technologies and currencies, including tools like sensor fingerprinting, facial recognition, retinal scanning and voice control, as well as alternative currencies such as bitcoin.
eBay Inc., in partnership with Shopify Inc., will soon allow Shopify merchants to list and sell products on eBay directly from Shopify accounts. With the new integration, Shopify merchants will have an opportunity to market brands and products to over 169 million active buyers on eBay. The integration will also enable Shopify merchants to sync inventory information to manage order fulfillment from both platforms in one location.
FINSYNC Inc. and Worldpay US teamed to expedite approved cash flow for businesses. Through the collaboration, FINSYNC customers can now connect their account to Worldpay to receive fast funding of online invoice payments. Worldpay customers will also have the option to integrate their accounts to FINSYNC to accommodate centralized, automated accounting, invoicing and payroll functions, the companies noted.
Innovative Computer Professionals Inc. partnered with IGT Global Solutions Corp. to integrate its OmniCommerce Software Platform with several IGT casino systems. As a result, casino patrons can transfer casino funds onto ICP-issued bank cards in order to spend their cash. "Our goal is to modernize the casino patron experience and eliminate unnecessary friction points such as physical player loyalty cards and cash-only commerce," said Sina Miri, IGT Vice President Casino Systems.
iPayment Inc. partnered with Opticard, a division of Cayan LLC. Through this affiliation, iPayment will effectively expand its value-added service offerings to include a stored value gift and loyalty card solution designed specifically for SMBs to its growing portfolio. iPayment's new gift offering will be available through its direct sales, agent and ISO channel partners.
Nextep Systems partnered with LevelUp to make the ordering experience faster for guests who pay with LevelUp at Nextep self-order kiosk, touchscreen drive-through and over-the-counter POS locations. "Our new partnership with LevelUp adds even more value to our revenue generating point-of-sale by giving our clients access to a top-notch user engagement tool," said Tommy Woycik, President of Nextep.
Pivotal Payments selected a suite of solutions by Conformance Technologies LLC to enhance and protect its North American merchant portfolio. The agreement encompasses the CT's PCI ToolKit, Cyber Attack Readiness ToolKit, InConRadar and Data Incident Management Program offerings. "We appreciate Pivotal Payments' validation of our approach, and are excited to deliver these solutions to their merchant customer base," said Darrel Anderson, President of CT.
Castles Technology International Corp. entered a formal distribution agreement with POSData Group to offer an additional source of EMV-ready payment solutions for vendors and acquirers. "We are gearing up to have all services in place to support North American deployments of Castles' products, and to satisfy our mutual customers," said Bill McCubbins, POSData Group Executive Vice President.
Visa and Marqeta Inc. formed a multiyear, global partnership to drive further commercial and consumer payment innovations. Additionally, Visa made a strategic investment in Marqeta to support Marqeta's domestic and international growth objectives. The initial efforts of the partnership will revolve around growing opportunities for virtual, physical and tokenized payments across commercial markets and new use cases for Marqeta's open API platform.
Wirecard AG extended its partnership with Gulf Air, the national airline of the Kingdom of Bahrain. Building upon an existing agreement that covers online booking and in-person POS payment processing, the partners plan to expand globally with new solutions and products. "With Wirecard we have found a reliable partner that supports Gulf Air in our entire payment processes," said Mr. Ammar Mohammed Alsaad, Director Accounting at Gulf Air.
First Data Corp. and CardConnect completed First Data's tender offer to purchase the outstanding shares of CardConnect common stock for $15 per share in cash. First Data subsequently completed the acquisition of the remaining CardConnect shares of common stock not acquired in the tender offer through a merger, making CardConnect a wholly-owned subsidiary of First Data. CardConnect shares will no longer be traded on the Nasdaq market.
Spire Payments Holdings S.a.r.l. tapped T.K. Cheung as its new President to spearhead expansion into North America, Latin America and Southeast Asia. "Having been part of the payments ecosystem for over three decades, it is truly a privilege to head up a business renowned for delivering exceptional levels of service and being recognized as a market-leading innovator in the fintech ecosystem," Cheung said.
Spindle Inc. named Rick Davis as Senior Vice President of Sales and Business Development. Davis is a senior sales executive with more than 15 years of experience in sales, recruiting and training. He has a track record of exceeding sales quotas, growing sales channels, and hiring and training hundreds of sales executives and independent agents within the U.S. market. Davis most recently served as Senior Director of Sales North America for Zooz Inc.
Autoscribe Corp., provider of PaymentVision and Lyons Commercial Data, released key changes to its senior leadership team with the appointment of Jamie Lerner as Chief of Staff and Rob Mengarelli as PaymentVision Vice President of Sales. Lerner will provide human resources and operational support to increase efficiency within the organization. Mengarelli will lead the sales organization, guide market penetration and cultivate key client relationships.
Roger Lovegrove joined Brightpearl as Chief Financial Officer, and Michael Sherman was named Director of Sales, Brightpearl U.S. Lovegrove will work alongside Brightpearl CEO Derek O'Carroll and the management team to help drive Brightpearl's continued growth. Sherman is responsible for the company's business development at its expanded U.S. headquarters.
Todd Nestor was promoted to Vice President, Business Development at eProcessingNetwork LLC, a firm that specializes in secure real-time transaction processing services and support through its secure payment gateway. In his place, Emily Kernin joined the team as Director of Eastern Region Partner Development.
BNG Team, a business solutions and payment provider, promoted Ryan Theis to the role of Chief Strategy Officer, spanning all four BNG divisions. Prior to his new role, Theis founded and grew BNG Design, one of the four divisions at BNG. In his previous role at BNG, Theis was involved in research and development, as well as business development. He will now be tasked with overseeing growth strategies, driving decision making on business process improvements and integrating process strategies.
Transpay expanded its leadership team with the appointment of Peter Shore to General Manager and Kevin Gallagher to Senior Vice President, Global Sales. Shore will lead the strategic planning and execution of Transpay's global payments programs and solutions. Gallagher will lead Transpay's business development strategies globally, with a focus on strategic customer accounts and partner relationship growth.
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