Merchant acquirer and payments technology and services provider for SMBs, TransFirst, owned by buyout firm Vista Equity Partners, has filed for an IPO. Shares to be listed on the Nasdaq under the symbol “TF” with an IPO size of $100 million.
About 77% Americans are frightened of having their identity stolen including 23% who are very frightened. About half of Americans (46%) have either been a victim of identity theft or know someone who was, up 12 percentage points from 2008.
ME-based WEX has entered into a definitive agreement to acquire Electronic Funds Source for $1.1 billion in cash and 4.0 million shares of common stock to be issued to investment funds affiliated with Warburg Pincus, EFS’ current owner. The acquisition is expected to be immediately accretive to adjusted net income.
Beijing-based Alibaba Group disclosed its omni-channel retailing plans for the 2015 11.11 Global Shopping Festival. This year, more than 1,000 retail brands, with 180,000 stores in 330 cities across China, will participate in this year’s 11.11 Global Shopping Festival. In Beijing alone, more than 8,000 stores will join the 11.11 festival.
Giesecke & Devrient and Ericsson have partnered to deliver a commercial end-to-end subscription management solution. Via a highly secure process, the system will enable the remote provisioning and management of mobile operator SIM profiles and policies.
Synchrony Financial intends to file a Registration Statement on Form S-4 with the SEC in connection with the proposed exchange offer announced by General Electric Company. In the offer, GE shareholders will have the opportunity to exchange some or all of their shares of GE common stock for shares of Synchrony Financial common stock.
Citibank’s average yield for its U.S. retail credit card portfolio rose 5 basis points (bps) in the third quarter, compared to one-year ago, but down 6 bps sequentially. The net interest revenue (NIR), which includes some fees, also jumped by 30 bps year-on-year (YOY) for Q3/15, and up sharply by 37 bps from the prior quarter.
In today’s CardFlash News Que: GEMALTO (award); TIMETRIC (Argentina); CREDITCARDS.COM (retail cards); and TIMETRIC (South Korea).
New U.K. research shows the adoption of mobile banking apps is no longer exclusively popular for “digital natives” (those born into the digital age), with take-up being spread across all age groups and segments
According to new research 60% of Americans created or used an online account with a retailer in the last 12 months, which suggests convenience ranks top-of-mind for U.S. shoppers. In fact, 47% said they create online accounts because it is quicker and easier to shop.
Merchant Customer Exchange (MCX) will add Buy It Mobility Networks Inc.’s (BIM) guaranteed, ACH payment tender to CurrentC. The CurrentC app is currently in its first phase of implementation in several retail locations, and will debut nationwide in 2016.
Velocity Mobile has acquired Tab Payments, a mobile payments app for tastemaker diners in Canada accepted at over 100 restaurants in Toronto and Montreal. The acquisition further expands Velocity’s reach, which now connects premier restaurants with global diners in six major cities in the US, UK, and Canada.