London-based online payment company Checkout.com launched into the U.S. market with the opening of a Boston office. Other office locations include Dubai, Singapore, Germany and Mauritus. The company said its expansion into North America is in response to growing customer demand in the payments space for global service providers, adding that it works directly with customers to handle payments in any country through a single integration.
CPI Card Group reached a settlement with Gemalto S.A. to resolve two patent litigation suits pending in the U.S. District Court for the District of Colorado. Under the terms of the settlement, CPI agreed to make a one-time payment of $750,000 in the fourth quarter of 2017. The settlement agreement includes a mutual covenant not to sue for a period of 18 months and is expected to result in the dismissal of both lawsuits with prejudice.
CardFlight and Dynamics Payments are working together to help business owners affected by Hurricane Maria. The companies are waiving monthly and setup fees for SwipeSimple, so businesses in affected areas can process credit card payments from any supported mobile device or web browser. Additionally, Dynamics is pre-enrolling merchants, so they have an immediately available payments solution as cellular communications are restored.
FreedomPay was selected as 2017's Best Tech Work Culture for the Second Annual Timmy Awards in Philadelphia. The local tech community and a panel of expert judges chose FreedomPay from a field of more than 150 nominees. The awards recognize winners across four categories to spotlight local tech startups, workplace diversity, management and work culture.
Loop Commerce reported it was issued U.S. Patent 9,773,273 for the GiftNow service, which is already used by many leading brands including Macy's, Saks Fifth Avenue, and Neiman Marcus. Integrated with the merchant's online store, GiftNow digitizes merchandise, enabling consumers to easily purchase products online and deliver them to someone else. Receivers can customize gifts' size and color or exchange gifts before they ship.
Mandiant completed the forensic portion of its investigation of the Equifax cybersecurity incident. The completed review determined approximately 2.5 million more U.S. consumers were potentially impacted than previously reported, bringing the total to 145.5 million. Evidence of additional or new attacker activity, access to new databases or other sensitive information, or impact outside the United States was not detected.
NACHA – The Electronic Payments Association's API Standardization Industry Group (SIG) and the Payments Innovation Alliance selected the first five application programming interfaces (APIs) for initial standards development: 1. Account validation/federal and state tax payment receiver account validation for credit payments; 2. Get account balance/get account history; 3. Get bank contact information; 4. Interoperability; and 5. Transaction status. The API SIG was created by NACHA in spring 2017 to help standardize use of APIs in the U.S. financial services industry.
PayJunction won a bronze 2017 Stevie Award in the Employee Engagement category in the second annual Stevie Awards for Great Employers. The awards recognize the world's best employers and human resources (HR) professionals, teams, achievements and HR-related products and suppliers that help create great places to work. More than 500 nominations worldwide were submitted. Stevie Award judges include many of the world's most respected executives, entrepreneurs, innovators, and business educators, the organization said.
Pivotal Payments entered into a strategic investment agreement with private equity firm Novacap and Canadian pension fund manager Caisse de depot et placement du Quebec, two institutional investors with expertise in international business expansions. Pivotal stated it anticipates the new shareholders will enable the company to pursue more markets and further develop its payment technologies.
TransNational Payments launched a 10-member Chicago inside sales team led by Tom Hockney, who joined TransNational in August 2017 as General Manager of National Accounts. The new team will continue TransNational's strategy of offering simple, secure payment solutions for all businesses, whether they want to process credit card payments in-store or manage inventory in the cloud.
Europol's European Cybercrime Centre and Trend Micro, a global cybersecurity solutions company, released a comprehensive report on the state of ATM malware. The report dissects recent attacks that used bank networks to steal money and credit card data from ATMs, regardless of network segmentation. "This report furthers Trend Micro's commitment to helping law enforcement and private businesses mitigate future attacks and protect individuals," said Max Cheng, Chief Information Officer for Trend Micro.
According to a new research report by Mercator Advisory Group, the recent NACHA same-day automated clearing house (ACH) implementation, has led to new ACH use cases in both business and consumer applications. Mercator's latest research report, Same-Day ACH: Debit's Debut, examines the impact of same-day ACH on the payments market, and dubs ACH as "a stalwart among payment types."
Vyze released a new study that shows younger shoppers are significantly different from older generations when it comes to making purchases with credit. The survey of 1,000 American shoppers found that Gen Z and Gen Y are comfortable using credit to make purchases, overwhelmingly prefer credit cards to monthly payment options, and can comfortably manage a credit card balance.
Affirmative Technologies entered into an agreement to integrate services with TransCard, which specializes in cloud-based payment processing applications for U.S. financial institutions and corporations. Integrating their proprietary platforms will enable the partners to provide unique electronic payment processing for midsize and large businesses seeking easy-to-manage disbursement solutions, the companies stated.
Dovetail Systems Inc. made Vantiv Inc.'s triPOS Cloud available to its Gusto POS customers. Vantiv's payment processing gateway will provide Gusto POS clients greater operational flexibility and control of the payment devices to enhance customer engagement, according to the companies. Vantiv's triPOS is a payment card industry compliant solution that uses tokenization and encryption designed to ensure the highest standards of safety and security are met during card transactions.
Dynamic Minds Consulting and SMG, the developer of POS loyalty platform SsnApp, partnered to provide a full-service solution to power the relationship between brands and their customers. SsnApp and DMC are providing a turnkey, fully integrated POS solution that includes a digital marketing and social intelligence platform coupled with consulting services from industry experts, the partners noted.
First Data Corp. and Live Oak Bancshares Inc. launched the digital banking joint venture that was announced earlier this year. The new company, Apiture, draws from both companies' digital banking platforms, products and services to deliver innovative technology solutions tailored for financial institutions. "Apiture will play a big role in shaping the future of our industry," said Chip Mahan, Chairman and CEO of Live Oak Bancshares.
Glance Technologies Inc. entered into an alliance with Netcoins Inc. designed to give people better access to buying and spending bitcoin. According to the companies, Netcoins provides an easy way for people to buy bitcoins, and Glance will allow users to spend their bitcoins quickly and easily via Glance Pay. "We are committed to being at the forefront of payments, security and mobile technologies," said Glance CEO Desmond Griffin.
Mastercard and WeWork reported they are creating a digitally connected environment at WeWork in San Francisco by deploying Internet of Things technologies. Mastercard is adding a metered payment capability for WeWork "hot desks" so people are charged only for the time they actually use the desks, and a frictionless retail experience at WeWork's Honesty Market that enables people to make purchases without having to pull out a physical or digital wallet.
Snapsheet, a provider of virtual claims technology for the personal and commercial insurance marketplace, partnered with KeyBank on the launch of Snapsheet Transactions, which the companies describe as a future-proof payment solution for insurance claims. This partnership demonstrates a shared commitment to simplifying claims, while offering optimal customer experience and a seamless payments solution, the partners stated.
Square Inc. formed a strategic partnership with Eventbrite to drive the Eventbrite payment systems, including online, mobile, and in-person transactions. Additionally, to support Eventbrite's vision, Square invested $25 million in the company. "Eventbrite's global network of event creators have the same entrepreneurial spirit and drive as the millions of sellers who run their businesses on Square," said Alyssa Henry, Seller Lead at Square.
BluePay acquired Security Card Services. SCS bank partners and merchants will now have access to BluePay's integrated payment processing technology, while BluePay will add significant distribution and human capital scale to its financial institution sales channel. "This merger is an exciting step and will allow us to expand our value proposition to bank partners and merchants," stated William Alias, III, CEO of Security Card Services.
TowerBrook Capital Partners LP revealed it acquired Rewards Network, a provider of marketing, loyalty, dining rewards and financing programs to the restaurant industry. While the transaction is complete, financial terms were not disclosed. TowerBrook said its investment in Rewards Network is the result of a thesis-driven sourcing effort focused on identifying differentiated tech-enabled service providers in the rewards and loyalty sector.
Amaryllis hired Mark A. Bishopp as its new CEO. A payments industry veteran, Bishopp will be responsible for leading Amaryllis' go-to-market strategy and global expansion plans. He joins Amaryllis from Bank of America Merchant Services where he was a Senior Vice President. In that role, he was responsible for all aspects of global ecommerce performance and worked with a team of third-party experts responsible for driving revenue growth.
OneView Commerce welcomed two key members to its executive team to further strengthen its leadership in cloud-based product delivery. Nicholas Flowers joined the company as Vice President of Product Delivery; Lewis Huynh accepted the role of Vice President of DevOps and Cloud Infrastructure. These appointments are expected to bolster the company's principal focus on agile development and continuous delivery to better serve the demand for innovation in retail.
Asian payments specialist PaySec welcomed Koen Vanpraet as its new CEO. A results-driven leader, Vanpraet is tasked with building PaySec beyond its Asian borders, bringing its robust payment technology to new international markets. Formerly Chief Commercial Officer at Credorax, and previously at GlobalCollect, Vanpraet transformed and grew both organizations across borders, leading and building multicultural, cross-functional teams, PaySec stated.
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