EVO Payments International launched a roadshow for an initial public offering (IPO) of 13,333,333 shares of its Class A common stock to be priced between $14 and $16 per share; plus an additional 666,667 shares to be offered by a selling stockholder. EVO expects to grant underwriters a 30-day option to purchase up to an additional 2.1 million shares at the IPO price, less underwriting discounts and commissions, to cover over-allotments. Shares are expected to trade on The Nasdaq Global Select Market under the ticker symbol EVOP.
Merit Foundation staked its claim on being the first to launch an invite-only cryptocurrency and digital wallet, and feature decentralized vaults and escrows on the blockchain. Merit stated that it self-funded the $1 million venture to bring "digital currency to those outside of the global technological and financial elite, enabling any person with access to the Internet to easily use cryptocurrency for daily activities such as splitting a restaurant bill or buying clothing online."
PayJunction won the Gold Stevie Award in the Customer Service Department of the Year category in The 16th Annual American Business Awards, marking the second consecutive year the company has earned an award in this category. PayJunction also received a Bronze Stevie Award for Best FinTech Software. The American Business Awards recognize outstanding performance in the workplace. Over 3,700 nominations were submitted by U.S. organizations in the public, private, for-profit and nonprofit sectors.
The Secure Cryptopayments LLC, which enables merchants to accept cryptocurrency payments, is adding Sabr coin as a payment option in North America. ISOs, merchant level salespeople, partners, and thousands of brick-and-mortar and online merchants in the region will soon be able to integrate and accept Sabr in real time as a form of payment for goods and services, the company stated. Beta testing is underway, with full integration and rollout expected next quarter.
Splitit launched an interest-free debit card installment payment offering for U.S. and European online, in-person and mobile purchases of $400 or less. The patented technology extends its existing credit card program, which is now available in 25 countries. Splitit co-founder and CEO Gil Don believes that the company's application-free, instant-approval process helps merchants ensure a seamless, efficient and customer-centered checkout experience.
Volusion LLC, an ecommerce platform built for small and midsize businesses, migrated its 30,000 ecommerce stores to the Google Cloud Platform (GCP). Advantages to GCP include unsurpassed page speed, greater network reliability, and world-class, site-wide security, Volusion noted, adding that the migration has already positively impacted site performance for merchants, which has led to increased conversion and overall revenue growth for many.
Wirecard AG expanded its relationship with Swiss mountaineering brand Mammut to process payments for Mammut's U.S. ecommerce business, offering online customers access to the major U.S. card brands, with more options in the pipeline. Mammut turned to Wirecard in 2014 for multichannel payment processing, and since then, Wirecard has served Mammut's core markets of Germany, Austria, Switzerland and the U.K.
Amazon's inaugural Small Business Impact Report offers new details about the millions of small and midsize businesses (SMBs) that market goods and services on Amazon. According to the report, SMBs selling on Amazon come from all 50 U.S. states and over 230 countries, more than 20,000 SMBs worldwide surpassed $1 million apiece in sales in 2017, and they are estimated to have created more than 900,000 jobs worldwide. To view the report, visit http://aboutamazon.com/supporting-small-businesses.
Auriemma Consulting Group's Q1-2018 Mobile Pay Tracker revealed that combined usage of Apple Pay, Google Pay and Samsung Pay grew to 34 percent, up 5 percent from Q1 2017. Yet, 42 percent of mobile pay users surveyed would not recommend using the service. "The influx of new players makes the future of the Big Three uncertain," said Jaclyn Holmes, Director of Payment Insights at Auriemma. "Being first to market hasn’t given Apple, Google, or Samsung a leg up on mobile payment newcomers."
A Juniper Research white paper titled 3 Smart Toy Vendors Racing Ahead predicted smart toys will represent an $18 billion hardware and software market by 2023, up from $6 billion projected this year. Primary drivers cited include the rising popularity of smartphone-connected toys and related in-app purchases, which are on track to grow 69 percent annually over the next five years. To view the report, visit www.juniperresearch.com/document-library/white-papers/3-smart-toy-vendors-racing-ahead-in-2018.
To address the European Union's May 25, 2018, General Data Protection Regulation (GDPR) enforcement date, SecurityMetrics published the white paper GDPR 101: What You Need to Know. The paper covers how GDPR compliance impacts you, GDPR requirements and best practices, and how to prepare for business after enforcement. It is available for free download at https://info.securitymetrics.com/gdpr-101-wp?utm_source=Email&utm_medium=Email.
The U.S. Payments Forum Spring 2018 Market Snapshot offered an encouraging update on the U.S. migration to EMV (Europay, Mastercard and Visa). According to the report, 96 percent of Visa payment volume at the point-of-sale is now conducted using chip-enabled cards, 59 percent of U.S. POS locations currently accept chip cards, counterfeit card fraud for chip-enabled merchants has dropped 70 percent, and 91 percent of U.S. ATMs are now EMV-capable.
Flywire, a provider of global payment and receivables solutions, and business-to-business payment cycle management specialist Billtrust, partnered to streamline receipt of international payments for Billtrust business customers. Billtrust users will now have access to an integrated solution that incorporates Flywire's international payment processing and receivable capabilities with Billtrust's automated invoice delivery and payment services, the partners stated.
Mastercard recently reaffirmed its commitment for more connected and inclusive cities, highlighting its collaboration on Microsoft's CityNext program, which brings together their "respective payment, data analytics and cloud technologies to create a global exchange, allowing cities to use economic insights in more integrated and efficient ways," Mastercard stated.
"Today's urban challenges are best solved through collaboration," said Miguel Gamiño Jr., Executive Vice President for Global Cities at Mastercard. "From access to basic services such as transport and affordable housing to engaging arts and culture – locals and tourists expect that cities make good use of resources that already exist and harness emerging technologies."
St. Louis Merchant Services partnered with SignaPay Ltd. to offer the PayLo Cash Discount Program to SMBs in the St. Louis metropolitan area. PayLo's patented technology allows merchants in all 50 states to legally offset credit card processing costs by applying a customer service fee. "PayLo has been saving up to 90 percent of credit card processing fees for a variety of industries including restaurants, retail, and professional services," the company noted.
Spreedly, a cloud-based payment platform that allows businesses to connect to multiple payment service providers, endpoints, and a secure credit card vault through a single API, expanded ties with Worldpay to enable mutual ecommerce customers to transact more easily across the globe. Spreedly will integrate Worldpay's international payment processing API into its service, which will give merchants access to over 300 payment methods in 146 countries via 126 currencies.
Visa and PayPal extended a strategic alliance to accelerate adoption of secure digital and mobile payments for consumers and merchants in Canada. The companies currently collaborate in the United States, Asia Pacific and Europe. "The partnership creates a seamless experience for consumers who choose to pay with their Visa card at places that accept PayPal," the partners stated. "Through collaboration between bank partners and PayPal, consumers will be able to add Visa cards into the PayPal digital wallet easily from other banking apps." The partnership also enables PayPal to leverage Visa Direct to transfer funds in real time.
Groupon acquired Cloud Savings Co. Ltd., parent company of Vouchercloud and Giftcloud, for $65 million. "In Vouchercloud, we're acquiring one of the most innovative brands in the online discount codes space, which we believe will accelerate our own efforts -- particularly in international -- and broaden our marketplace for consumers," said Groupon CEO Rich Williams. "In Giftcloud, we see interesting long-term potential in creating attractive customer loyalty programs with some of the biggest names in retail, as well as with great local merchants."
Muncie, Ind.-based Ontario Systems, an enterprise revenue management software provider, acquired Albuquerque, N.M.-based Justice Systems Inc., a provider of court case management software and electronic payments in the government sector. According to both parties, the merger will create a closed loop payment and enterprise workflow solution for state and local court systems, including prosecutors and public defender offices.
Plano, Texas-based gifting network Swych Inc. acquired Mumbai, India-based Gift Cards India. Swych noted that GCI offers a wide selection of gift products from over 250 of India's top brands. Deepak Jain, Swych founder and CEO, added, "By integrating GCI's presence and expertise with the powerful Swych platform, we aim to greatly accelerate our mission of becoming a truly global digital gifting powerhouse."
Bill Clark joined The Strawhecker Group as a Senior Associate. Clark has more than 30 years' experience in the payments industry, and as a consultant at the firm he will offer expertise in payment facilitation, integrated software verticals, issuing and mobile. Prior to TSG, Clark developed and operated a full-service payment service provider solution at Spindle Inc., which became the first cloud-based platform to receive PCI Level 1 Service Provider certification.
The Chargeback Company, known as Chargebacks911 in the United States, hired chargeback expert Craig McClure as Director, Relationship Management to manage the firm's European merchant and banking customers. Most recently, McClure was responsible for one of Visa's largest accounts in Europe, helping customers sign-off on Visa Claims Resolution to consolidate the claims process.
Jacksonville, Fla.-based Sound Payments Inc. appointed Bill Nichols as Senior Vice President of Sales and Technology, where he will guide sales team and strategy development for Sound Payment's Seamless Commerce solutions. Well versed in U.S. and international markets, Nichols most recently served as President and CEO for AnywhereCommerce Inc. Previous to that he led global expansion and new product initiatives for First Data Corp. and Verifone.
PriceSpider, a provider of retail technology solutions for brand manufacturers and retailers, hired Kevin Rodgers as its new Director of Sales. He will be responsible for driving the overall growth strategy for new and existing customers while building upon the company's existing foundation to create an industry-leading client service team. In his prior role, Rodgers helped Google Inc. build and scale sales and operations teams across digital media and e-commerce.
PDCflow team member Matt Thomas stepped into a new role. A customer success administrator for PDC flow since 2016, he is now a member of the company's Product Management team. Thomas' time working in customer success will bring a wealth of experience to the Product Management team, PDCflow stated, adding that he will add new perspective and insight to PDCflow's strategic product management process. He will also contribute to the design, planning, and creation of products devised to simplify the payment process, the firm noted.
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