CardFlash News Briefs: PAYSCAPE (Vendevor); TARSIN (Circle Plus); ARROWEYE (TMG); and LENDINGTREE (AmEx).
PAYSCAPE – Payscape, a financial technology company, and Vendevor, an ecommerce platform and mobile app for selling across multiple sales channels, including web, mobile, social media, brick-and-mortar locations and pop-up shops, have entered into a definitive agreement under which Payscape will acquire all the assets of Vendevor.
TARSIN – Tarsin Mobile and Circle Plus Payments have inked a deal to merge. The name of the company will be changed to CIRCLE PLUS to more accurately represent the business of the company. Together the combined companies will team up to deliver unique global payment solutions on mobile devices. Nitish Kannan, the 26 year old CEO and Founder of Circle Plus Payments Inc., will remain CEO of the combined companies making him one of the youngest public company CEOs in the capital markets world wide.
ARROWEYE – Arroweye Solutions, the only Digital On-Demand payment technology firm, has been selected to provide prepaid card production and personalization services for TMG (The Members Group). Arroweye’s Digital On-Demand, zero-inventory model provides unmatched flexibility, which will allow TMG to better serve its financial institution clients and their cardholders by delivering prepaid cards in a matter of days – a fraction of the industry standard.
LENDINGTREE – LendingTree, the nation’s leading online loan marketplace, continues to scale its credit card vertical with the addition of American Express. LendingTree’s credit card marketplace now encompasses all five major credit card companies and the leading cards in each category. Additionally, the company expects revenue from its credit card business to more than double quarter over quarter in Q4 from its previously reported third quarter revenue of $2.7 million.