BlueVine Snags Another $40MM for its Factoring Biz

BlueVine Snags Another $40MM for its Factoring Biz

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] BlueVine, an online provider of working capital financing to small businesses, announced has closed $40 million in funding, bringing the company’s total funding to $64 million to date. This Series C funding was led by an investment from Menlo Ventures, with additional participation from new investor Rakuten FinTech Fund, follow-on investments…

Sionic Mobile’s ION Loyalty Small Business Center

Sionic Mobile’s ION Loyalty Small Business Center

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Atlanta-based Sionic Mobile unveiled its highly anticipated ION Loyalty Small Business Center is now live, providing small business owners and local merchants an affordable, easy-to-use mobile loyalty, payments and marketing platform. ION Loyalty helps increase traffic and sales through unlimited advertisements in the ION mobile marketplace and with merchant-branded eGift Cards.…

Flywire Acquires ScholarFX & Enters Canadian Market

Flywire Acquires ScholarFX & Enters Canadian Market

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Flywire, f/k/a peerTransfer, a provider of cross-border payment solutions, has acquired Toronto-based ScholarFX, a processor of tuition, room and board payments for international students attending universities and other educational institutions in Canada. The news follows Flywire’s successful October 2015 acquisition of UK-based Uni-Pay, and its continued strong organic growth. The ScholarFX…

Levvel Nails a $2 MM Round of Financing

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] NC-based Levvel, an IT consulting firm that provides its clients with the ability to leverage technology to innovate like nimble disruptors and scale like industry leaders today announced that it has completed a $2 million round of financing, led by its senior management team. Also participating in the capital raise were…

CPI Card Group Ankles Doug Pearce to Board

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CPI Card Group has ankled Doug Pearce to the board of directors, effective as of January 20th. Pearce will serve on the Board’s Audit Committee and the Nominating and Corporate Governance Committee. Doug Pearce was the founding Chief Executive Officer and Chief Investment Officer of the British Columbia Investment Management Corporation…

Special Breaking News Mentions January 20, 2016

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CardFlash.com Breaking News: WU (milestone); PINNACLE (investment); EMAZZANTI (PCI); and FIDO (milestone). WU – The Western Union Company announced its account payout network, a global capability that enables cross-border money transfers to be directed to bank accounts – has reached a new milestone, now connecting consumers to over one billion bank…

BofA Grapples With 4Q/15 Credit Card Portfolio Stagnation

BofA Grapples With 4Q/15 Credit Card Portfolio Stagnation

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The nation’s second largest Visa and MasterCard issuer continues to struggle with sluggish outstandings and purchase dollar volume (PDV) growth, plus credit card quality is inching north. BofA (EOP) U.S. bank credit card outstandings declined 2.5% year-on-year (YOY) to $89.6 billion for the fourth quarter (4Q/15). Meanwhile, Purchase Dollar Volume (PDV)…

Wells Fargo - 2nd Fastest Growing Top 10 U.S. Card Issuer

Wells Fargo – 2nd Fastest Growing Top 10 U.S. Card Issuer

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Wells Fargo’s credit card fourth quarter (4Q/15) portfolio outstandings jumped 9.3% year-on-year (YOY) to $34.0 billion. Purchase dollar volume (PDV) soared 12.5% YOY to $18.9 billion, compared to 15.1% YOY in the prior quarter. Wells Fargo is the second fastest growing U.S. card issuer among the top ten, next to Capital…

KDC500 – Smallest PCI Certified EMV/MSR Payment Companion

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] NJ-based KOAMTAC has teamed with e-Nabler, developer of the mobile POS software eMobilePOS. Through this partnership, merchants will be able to deploy turn-key tablet and handheld based POS solutions that comply with EMV payment requirements. KOAMTAC KDC Bluetooth barcode scanners and mobile POS companions are the world’s most compact yet durable…

Chargebacks Remain a Major Nuisance for U.S. Merchants

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] For Visa and MasterCard transactions, chargebacks merchants receive are, on average, 1.6 basis points (bps) of sales number and 6.5 bps of sales value. About 70% to 80% of chargebacks are resolved as merchant liability. The most common chargeback reason is fraud, which accounts for about 50% of the total chargebacks.…

Verifone Inks a Major Payment Gateway Deal

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Verifone has inked a deal to acquire AJB Software Design, a Toronto-based provider of payment gateway and switching solutions for large merchants in the U.S. and Canada. Approximately 150 large retailers in the U.S. and Canada rely on AJB’s on-premise gateway and other solutions to connect nearly a half million payment…

Holiday E-Commerce Hit $550MM Reports eBay Enterprise

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] E-commerce sales fulfilled by stores reached $515 million during the holiday season – a 62% increase from 2014 – which can be largely attributed to consumers truly embracing a seamless shopping experience, particularly during the holiday season. eBay Enterprise says its latest data shows ecommerce order volumes fulfilled by stores increased…