Industry News

The latest information about the companies, products and services that are shaping the payments industry, selected by our team of specialists.

Aug 3, 2020

Galileo Powers MoneyLion´s RoarMoney

Galileo has announced that its customizable API-based payment processing platform is powering RoarMoney, the new demand deposit account offered by award-winning consumer digital finance platform MoneyLion. > See Article

Aug 3, 2020

Global Payments Signs Multiyear Payments Agreement with TD Bank Group

As part of the agreement, TSYS will continue to provide a range of processing and support services for TD Bank´s consumer and commercial card portfolios. TD Bank has utilized TSYS´s payment processing platform since 2005. > See Article

Aug 3, 2020

Global Payments Joins Forces with AWS

AWS and Global Payments will collaborate to provide a cloud-based issuer processing platform to institutions of all sizes around the world. > See Article

Aug 3, 2020

BMO Among Select U.S. Banks to Offer Digital Accounts Managed Via Google Pay

BMO Financial Group today is working with Google to introduce mobile-first bank accounts that will be available to U.S. customers and can be managed through Google Pay. > See Article

Aug 3, 2020

BBVA USA Announces Collaboration with Google to Offer Digital Bank Accounts

This collaboration underscores BBVA´s strategy to continue organically growing the bank throughout the U.S., even as it deepens its transformation and capitalizes on the innovations that have changed the way it does business. > See Article

Aug 3, 2020

American Express and Marriott Bonvoy Introduce Limited-Time Offers Designed to Fuel Local Travel and Experiences

In addition to current card benefits, the enhanced offers will be available from August 3 to October 31, 2020, for eligible Marriott Bonvoy, Brilliant, and Business Card Members. > See Article

Jul 31, 2020

Evertec Launches New Contactless Payment Solution

Evertec´s new ATH Movil solution allows consumers to make payments by scanning QR codes at participating merchants, without having the card present. > See Article

Jul 31, 2020

Citcon Continues to Expand QR Payments Across North America with Opay Acquisition

Citcon offers a full range of mobile payment services including an in-store and online payment gateway to help Canadian merchants serve Asian consumers.  > See Article

Jul 30, 2020

Galileo Integrates with Plaid to Simplify ACH Transfer Setup

With this integration, joint clients of Galileo and Plaid may offer their customers an easy way to connect their bank accounts and initiate ACH transfers. > See Article

Jul 30, 2020

Wex Inc. Reports Second Quarter 2020 Financial Results

Total revenue for the second quarter of 2020 decreased 21% to $347.1 million from $441.8 million for the second quarter of 2019. The $94.7-million revenue decrease in the quarter includes a $29.2-million unfavorable impact from fuel prices and spreads and a $1.7-million negative impact from foreign exchange rates. > See Article

Jul 30, 2020

Fundomate Partners with Poynt to Bring Automated Business Funding to U.S.-based Small Businesses

By utilizing Fundomate´s white-label technology, APIs, and expertise in the alternative lending space, Poynt Capital provides merchants with preapproved, affordable working capital offers based on their processing and business history. > See Article

Jul 29, 2020

Euronet Worldwide Reports Second Quarter 2020 Financial Results

Revenues of $527.8 million represented a 24% decrease from $691.9 million (22% decrease on a constant currency basis). > See Article

Jul 29, 2020

Shopify Announces Second Quarter 2020 Financial Results

New stores created on the Shopify platform grew 71% in Q2 2020 compared with Q1 2020, driven by the shift of commerce to online as well as by the extension of the free trial period on standard plans from 14 days to 90 days.  > See Article

Jul 29, 2020

Remitly Announces $85 Million Round as Digital Remittances Surge Globally

Existing investor Prosus´s PayU led the round at a $1.5 billion valuation. It was joined by returning partners Generation Investment Management, Owl Rock Capital, Stripes, DN Capital, Top Tier, Princeville Global, and Threshold Ventures. > See Article

Jul 29, 2020

Bank of America Expands Commercial Contact-Free Payments

Bank of America has expanded its mobile wallet capabilities for corporate clients in EMEA and APAC. The bank first launched mobile wallet in the United States and Canada in 2018. > See Article

Jul 29, 2020

Prove (formerly Payfone) Acquires Mobile Authentication Lines of Business from Early Warning Services

The acquisition will enable more than 1,000 financial institutions to access a broad range of consumer identity and authentication solutions directly from Prove. > See Article

Jul 29, 2020

MyPINPad Receives World´s First Certification for Contactless Card Payments on Mobile Devices

MyPINPad is the first company globally to be certified by the Payment Card Industry (PCI) Security Standards Council´s Contactless Payments on COTS Security and Testing Requirements. > See Article

Jul 29, 2020

Mastercard Rolls Out New Business Intelligence Platform for European Banks

Mastercard has launched Market Trends, an interactive platform providing a comprehensive view of payments insights, competitive intelligence, and industry trends for banks and financial institutions in Europe. > See Article

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