Bank technology seller Fiserv has added a distribution channel in Europe for its signature Clover point-of-sale product by buying bank technology firm CCV.
Based in the Netherlands, CCV offers systems that support offline, offline, mobile and other forms of digital payments. Fiserv plans to use the acquisition to accelerate the deployment of Clover and related services in Europe.
Fiserv bought Clover in its
Terms of the deal were not disclosed.
"Businesses are continuously looking for ways to operate more effectively, with added value applications and services in a secure manner. Providing our merchant and partner network with Fiserv's suite of products allows them to access the latest, best and most reliable payment technology," said Michiel Bijleveld, chief technology innovation officer of CCV, in a release. —John Adams
Ripple's CEO: SEC has dropped its suit
Ripple CEO Brad Garlinghouse on Tuesday said the Securities and Exchange Commission has dropped its lawsuit against the firm, which would end a battle between the distributed ledger technology company and the government that goes back at least four years.
"I'm finally able to announce that this case has ended. It's over," Garlinghouse said in a
The SEC did not comment, and Ripple referred questions to Garlinginghouse's social media post and a
The SEC initially
The SEC has contended XRP should be regulated as a security, while Ripple has countered XRP is a cryptocurrency currency that is distinct from Ripple, and thus should not carry the heavier regulatory load of a security.
A federal court in 2023 ruled that XRP sold by Ripple was not a security, and the SEC has appealed that decision.
More recently, the Trump administration included XRP as part of a
Apple seeks more markets for its iPhone pay tech
Apple has added new countries to its network of technology that enables merchants to accept mobile payments without added hardware.
Called
Since
Apple, which launched Tap to Pay in 2022, more recently updated the technology to enable consumers to access buy now/pay later and marketing incentives through Apple Pay.
Also referred to as soft POS,
Android also developed similar technology, and along with Apple controls most of the soft POS market.
The technology is a low-cost way for merchants to place checkout in the
Apple this week also expanded support for Apple Pay for all linked cards in Puerto Rico. The app had previously been limited to users linked to mainland U.S. banks. —John Adams
UK could dump contactless payment limits
The Financial Conduct Authority is asking for public input on a proposal to raise or eliminate the limit on contactless payments, which is about $129 per transaction.
The banking regulator is determining if enabling larger transactions via mobile wallets or other contactless options would benefit businesses and consumers by increasing the range of payment options.
The FCA is also considering a proposal to allow businesses to set their own limits on mobile payments.
The U.S., by comparison, does not have a limit on contactless payments. Contactless payments have
The British government is also taking a broader deregulatory stance toward financial services. The U.K. recently rolled its
Curve picks up funding to battle Apple Pay, other rivals
A group of investors including Fuel Ventures, IDC, Outward VC and Lord Stanley have invested about $50 million in Curve, a firm that sells a card that consolidates other card accounts.
Curve, which was founded in 2015, has raised about $400 million and has about 6 million users. It offers a mix of payments, incentive marketing, foreign exchange products that avoid conversion fees, payments tracking and other services.
The company plans to use the funding to fuel expansion to compete with mobile wallets. Curve recently partnered with technology firm Infact to support real-time credit reporting for consumers that use Curve Flex, a feature that enables consumers to access installment payments.
Curve has also
StoneX Payments and Bamboo team up for cross-border payments in LatAm
StoneX's payments subsidiary has partnered with Latin American cross-border payments provider Bamboo to expand coverage to merchants in the region.
StoneX Payments provides payment services to financial institutions, corporations and international development organizations in more than 180 countries, and offers settlement capabilities in over 140 currencies through its correspondent banking network of about 385 banks.
Bamboo works with more than 600 local banks and financial institutions in Latin America to help merchants accept payments in more than 200 payment methods across 11 countries in Latin America, according to a StoneX release. Bamboo has more than 500 clients and partners.
The partnership includes an undisclosed investment from StoneX, and is subject to regulatory approval.
"This partnership is a key step in expanding the reach of our payment solutions to support global merchants looking to grow in Latin America," Marcelo Perez, CEO of Bamboo, said in a statement.
"By working with top financial institutions and leveraging our extensive payment network, we enable businesses to operate with confidence in the region," Perez said. "Collaborating with StoneX enhances our ability to provide efficient, secure, and flexible payment, money movement, and FX solutions that meet the evolving needs of merchants worldwide." —Joey Pizzolato
Santander and Amazon launch Visa credit card in Austria
Santander and Amazon are expanding their joint credit card to Austria.
The Amazon Visa credit card offers Austrian customers 1% back in points on purchases made on Amazon.de and 0.5% for other purchases. Prime members get 2% during select shopping events.
The card does not require customers to open a new bank account and is issued by Zinia, a payments and lending platform run by Grupo Santander's digital bank Open Bank and its consumer arm Santander Consumer Finance. Zinia specializes in buy now/pay later loans, according to its website.
The expanded partnership comes as Santander looks to bolster its digital bank, Open Bank, in the U.S. and abroad. On Tuesday, Santander Bank, the U.S. arm of Banco Santander, announced a
UATP launches card issuer TreviPay
Global payments network UATP, also known as Universal Air Travel Plan, announced the launch of its latest card issuer, TreviPay.
TreviPay allows
"At TreviPay, we're dedicated to delivering innovative solutions that help our partners succeed," Brandon Spear, CEO of TreviPay, said in a statement. "The launch of our Issuer platform is a significant step in helping airlines and intermediaries worldwide streamline their operations while offering highly customizable solutions that meet both global standards and local market needs."
UATP counts Aeromexico, Air Canada, Air China, Air New Zealand, American Airlines, Delta Air Lines, EL AL Israel Airlines, Frontier Airlines, Japan Airlines, JetBlue Airways, Southwest Airlines, United Airlines and WestJet as clients, according to a UATP release. —Joey Pizzolato
TransUnion looks to payment data for new risk score in Canada
TransUnion is looking at Canadian's payment data to help determine creditworthiness for new would-be borrowers who lack a more comprehensive credit history.
The TruVision Trended Risk Score uses new proprietary algorithms to analyze how consumers are spending since the COVID-19 pandemic. The goal is to provide lenders with additional insight to help underwrite new-to-credit customers who would otherwise be unscorable.
"New Canadians and young consumers represent a significant portion of
"By offering lenders a more holistic view of consumers, they will now have better access to behavioral insights and information, increasing their ability to more confidently offer a wider range of products and services," he said. —Joey Pizzolato
