
Processing more than USD31 billion this year
US credit card processor, EVO Payments International, has recently completed the acquisition of PowerPay, a Maine based provider of e-commerce and POS payment processing solutions (view press release). The deal follows EVO’s recent acquisition of Deutsche Bank’s Europe headquartered Deutsch Card Services. As a result of these acquisitions, EVO’s annual processing volume now totals more than USD31 billion this year. The company currently services 275,000 merchant customer businesses, focusing principally on SMEs.
“Our acquisition of PowerPay and its e-commerce platform represents the next step in EVO’s evolution to become a significant leader in the electronic payments sector,” commented EVO President, Jeff Rosenblatt.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more