Citing its potential effects on payments-market competition, the United Kingdom’s Competition and Markets Authority has now ordered an in-depth review of PayPal Holdings Inc.’s acquisition of Sweden-based processor iZettle AB. A PayPal spokesperson told Reuters the company is working with the CMA and plans to demonstrate the market will remain competitive. The CMA’s final decision is expected by May 21.
Upserve introduced Upserve POS, an Android terminal with software customized for restaurants and with EMV payment capability built-in. Upserve POS was formerly known as Breadcrumb, POS technology Upserve acquired from Groupon Inc. in 2016.
TravelCash, a new mobile-payment service built on blockchain technology, launched as an alternative to traditional credit and debit cards. TravelCash is developing a cryptocurrency and an integrated payment and reward system using the Stellar platform. TravelCash said its processing fees will be 1%.
Bill.com, a provider of digital payments for business-to-business transactions, agreed to use virtual credit card services from Comdata, a unit of Fleetcor.
Womply, a provider of software that processes point-of-sale data for small businesses, appointed Brad Paterson as its first chief operating officer. Most recently, Paterson was an executive at Intuit Inc., and formerly worked at PayPal Holdings Inc. and Visa Inc.
The Financial Services Information Sharing and Analysis Center (FS-ISAC), a non-profit security association, named Steven Silberstein as its new president and chief executive effective Jan. 1. Silberstein most recently was chief operating officer at global intelligence firm BlueVoyant. He succeeds long-time FS-ISAC CEO Bill Nelson, who is leaving to become the first CEO of the Global Resilience Federation, a non-profit that supports collaboration among various information-sharing and analysis centers.
The Electronic Transactions Association payments-industry trade group announced its 2019 board of directors. The incoming president is Kevin Jones, chief executive of Celero Commerce.