Industry News

Payroc, a merchant acquirer, processor, and payment integrations provider, has launched card-present payments in Canada through a new integration with Moneris Solutions, the 25th largest merchant acquirer worldwide. Moneris Go POS terminals are designed to power transactions for independent software vendors and small to medium-sized businesses. Payroc will provide its partner's connection to Moneris Go through its eConduit product, Payroc Cloud. Payroc will offer two advanced smart terminals, Moneris Go (the PAX A920) and Moneris Go Plus (the Ingenico AXIUM DX8000).

Liberis is an embedded finance platform focused on small businesses. The company has formed a partnership with BNPL provider Sezzle. Sezzle Capital fueled by Liberis will provide funding to small and midsized businesses in the US, with a launch in Canada to follow.

Idex Biometrics has received certification from Visa for Idex Pay, which combines the company's proprietary card operation system and fingerprint sensor with Infineon's SLC38 secure element. Idex Pay is already certified with Mastercard. Several card manufacturers have already received the Mastercard Letter of approval and others are in the final stages of process.

Flipkart, an ecommerce provider in India, has consolidated its fintech offerings into a single vertical called Flipkart Pay. Bill payment services include recharges for Fastag, electricity bills, broadband and mobile bill payments. The company also offers UPI services in partnership with Axis Bank. Flipkart’s in-house fintech venture, Super.Money, has released a beta version of its mobile application on the Android app store. The platform will offer payments, credit, deposits and other digital financial services.

Cumula 3, a provider of cloud-based services for NetSuite, has partnered with Paystand, a B2B payments provider. Cumula 3 will integrate Paystand's payment platform into its portfolio of software and services for NetSuite customers, allowing them to digitize and automate fee-free financial transactions.

Skyfire Systems provides AI agents with an instant, global, and open payment system for AI commerce. It enables autonomous transactions across agents, data platforms, service providers, and other goods and services. Services include secure wallet access, verifiable Agent identity, and an open payment protocol for service requests, purchasing decisions, and instant transactions without human intervention.

RentRedi, a provider of property management software, has integrated with Stripe Connect and Stripe Checkout. The upgrade accelerates payments processing so that landlords get rent payments in two business days. It also offers provides more control over underwriting and onboarding processes for mobile and online rent collection.

U.S. Bank is partnering with Edward Jones, a provider of financial advisory services, to provide the company with co-branded bank deposit and credit card accounts. The launch, expected to occur in late 2025, will make U.S. Bank products available to Edward Jones U.S. clients through the firm’s 19,000+ financial advisors serving 8 million clients in North America with combined assets of $2 trillion. U.S. Bank has had an Edward Jones card-issuing relationship through its Elan division since 2012.

Affirm, a BNPL payments provider, has partnered with Hotels.com. allowing guests to book accommodations and pay over time. This builds on Affirm and Expedia Group’s existing partnership, where Affirm is the exclusive buy now pay later provider on Expedia and Vrbo.

MyKaarma, a provider of service lane technology and payment services for automotive service centers, has integrated with Sunbit, a provider of financial technology for everyday expenses. The partnership will add Sunbit's BNPL offering to customers of MyKaarma. Sunbit is already available in more than 50% of authorized MyKaarma dealerships.

Network International, a provider of digital commerce in the Middle East and Africa,, has formed a strategic referral arrangement with Citi. It will allow Citi to offer its corporate clients Network's services including omnichannel payments. Citi Treasury and Trade Solutions banks nearly 1,100 multinationals active in the Middle East, and more than 400 clients that are headquartered locally and have global or multi-country aspirations.

Unit21, a company that specializes in risk and compliance tied to fraud, money laundering, and other financial crimes, has added new features for ACH transactions. All use Generative AI and machine learning to help banks, credit unions, payments companies, and fintechs proactively detect and block risky transactions. According to the National Automated Clearinghouse Association, same-day ACH volume saw a 47% YOY growth compared to the first quarters of 2023 and 2024, partially due to the continual increase in real-time payments usage among consumers and businesses.

Cash App, which is owned by Block, has integrated with Google Play to give consumers an alternative payment option when checking out on their Android smartphones or tablets. Block also owns payment processor Square and BNPL provider Afterpay. Cash App Pay lets customers pay by using their Cash App balance or linked debit card. It currently has 4 million accounts active monthly, and has been adding 1 million active accounts during each of the last four quarters.

BNP Paribas, a Paris-based multinational bank, will work with Singapore-based Alipay+, the cross-border mobile payment and digitalization technology operated by Ant International, to enable merchants that use BNP Paribas’ acquiring service across Europe to accept payments from 25+ international mobile wallet partners associated with Alipay+. The companies also agreed to work together to strengthen WorldFirst’s participation in the Single Euro Payments Area (SEPA) scheme. WorldFirst is Ant International’s digital payment and financial services platform for global businesses.

Annual processing volume surpassed $100 billion, up 73 percent YOY. Annual run rate revenue approached $500 million.

Mastercard has teamed up with Scale, an issuer orchestration partner, to accelerate market deployment for fintech companies in Africa and the Middle East. The collaboration is designed alleviate technical and commercial barriers to entry faced by fintech companies, aggregators, enablers, payment service providers and telcos face when launching payment programs. These include securing BIN sponsorships, building sustainable unit economics, and designing and commercializing their card and other payment programs.

PTSB, a bank in Ireland, has extended its agreement with Worldpay to provide merchant services for the bank’s commercial customers, giving them access to additional Worldpay services including e-commerce and ePOS. The bank will also have access to Worldpay DCC for Dynamic Currency Conversion.

Financial results for the three months ended June 30, 2024 showed that revenue grew 4% YOY to $1.08 billion. Recurring revenue grew 9% to $793 million. GAAP net income was $29 million, and adjusted EBITDA was $193 million.

Coda Payments, a provider of digital content distribution, has teamed up with GoPay, the financial technology arm of the GoTo group, to boost Coda Rewards for Codashop customers. Coda Rewards gives gamers cashback when they purchase content on Codashop. GoPay will allow those gamers to earn up to 10% back in Coda Rewards when they use GoPay for purchases on Codashop Indonesia.

Omniq, a provider of AI-based image processing technologies and supply chain management services, has signed a non-exclusive agreement with Ingenico, a provider of payments-acceptance technology, to serve Omniq customers in Israel.

TFSF Pulse, a company that provides transaction management for businesses along with flexible pricing, has launched its flat rate merchant processing service in the UK, US and Europe. The service is designed for e-commerce businesses, traditional brick-and-mortar stores, and those classified as high-risk. Merchants that sign up for TFSF's White Label Gateway can customize their options including flat-rate pricing for all transactions. They also get support for traditional card payments and cryptocurrency transactions.

Mastercard is enhancing its Open Banking for Lending program, delivered with payroll data aggregator Argyle. New features includes Mastercard's ability to provide income and employment data on the estimated 95% of the US workforce who receive payments via direct deposit, ultimately powering more inclusive lending decisions and helping bring more people into the digital economy.

UATP, a payments provider for corporate business travel worldwide by airlines, travel agencies and Amtrak, has partnered with Book on Wego, Wego's online travel agency platform. Wego's role as a UATP issuer will extend its global footprint to airlines and travel suppliers outside the MENA region, making them accessible to MENA travelers.

The Accredited Standards Committee X9 will develop a new QR code payments standard. The standard will establish the content of a QR code for payments, in order to process a payment digitally, and will include both merchant-presented and customer-presented QR Codes. Encoded in a payment QR code will be all the information necessary to execute a payment without the customer or merchant having to share financial account details. Work will begin in August, and participants are being sought.

Third quarter revenue from continuing operations was $56.0 million, a decrease of 2% over the prior year's third quarter. Revenue from continuing operations for the nine months ended June 30, 2024, was $169.1 million, an increase of 1% over the prior year's first nine months.