Since the first quarter of 2020, multiple factors have contributed to shortages in the availability of EMV-compliant microprocessor chips and a concurrent increase in prices for finished credit, debit and prepaid cards delivered to issuers worldwide.
Bolt, a payment service provider, will acquire Wyre, a cryptocurrency infrastructure provider. Bolt will add Wyre’s capabilities to its APIs, allowing merchants to offer services like one-click checkout with cryptocurrencies.
One of the most successful private equity firms in the payment and fintech industries over the last 14 years has been Advent International. Since 2008, Advent has invested $6.50 billion in 17 companies including Vantiv, Worldpay, Nets and Nexi.
Blockchain.com, a crypto wallet and financial services company, will partner with Stripe to facilitate payments, fight fraud and improve revenue management. Blockchain.com has already used Stripe to facilitate crypto purchases using card payments, and the company expects to add the ability to make crypto purchases using Apple Pay and Google Pay. The company also announced […]
From January 1 to June 30, 2021, Visa, UnionPay, Mastercard, JCB, Diners Club/Discover and American Express brand credit, debit and prepaid cards collectively generated 259.47 billion purchase transactions for goods and services worldwide. This was up 31.9% from the same period in 2020. UnionPay restated downward its midyear 2020 figures from those that we published […]
The UnionPay International (UPI) subsidiary of China UnionPay plans to grow its business outside of China through a cardholder and merchant processing partnership with Fiserv. The companies signed a contract in October 2021. The partnership will be ready to serve new financial institution and multinational merchant customers later this year. Fiserv is the largest issuer […]
The Governor of Colorado said that the state will become the first in the U.S. to accept cryptocurrency for payment of state taxes and fees. Local legislators in Arizona and Wyoming drafted similar proposals. Sling, the Dish-owned streaming service, partnered with BitPay to accept cryptocurrency payments including Bitcoin, Ethereum and DogeCoin for its monthly subscription […]
The Terminals, Solutions & Services (TSS) business line of merchant acquirer Worldline will be sold to private equity funds manager Apollo, an alternative asset manager, for $1.92 billion (€1.70 billion) in cash up front if, as expected, the transaction closes in the second half of this year. The value of the deal could increase by […]
Later this year, Samsung Semiconductors will offer card manufacturers a single chip (S3B512C) that integrates the three functions needed to create biometric authentication cards—fingerprint sensor, secure element (SE) and secure processor. Currently, biometric payment cards require two and sometimes three chips to deliver the added cardholder authentication security. The SE in S3B512C is certified for […]
All American Express cards worldwide generated total volume (which Amex calls network volume) of $1.284 trillion in 2021, up 22.6% from 2020. Total volume is a combination of purchase volume and cash advances initiated by cards issued directly by American Express (which Amex calls billed business) and from cards issued by its Global Network Services […]
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