OLB Expands Crypto Support and other Digital Transactions News briefs form 3/4/21 – Digital Transactions

  • Payments provider The OLB Group Inc. said its SecurePay gateway can now support cryptocurrency transactions and settlement of funds for merchants, putting crypto on par with credit and debit payments.
  • PayActiv Inc., a provider of earned-wage access technology, said Hancock Whitney is the first financial institution to offer the company’s service.
  • In related news, human-resources software provider OnShift Inc., whose early wage access service is provided by PayActiv, reported its OnShift Wallet supported almost $50 million in wage advances in 2020.
  • iStream Financial Services, which provides treasury-management services related to payments, said a partnership with gateway NMI enables it to offer a service that includes both card and automated clearing house processing on a single platform.
  • Point-of-sale technology provider PAX Technology Inc. said Scholastic Book Fairs are using PAX devices to accept card payments.
  • A survey by Broadridge Financial Solutions Inc. of 3,000 U.S. and Canadian consumers age 25 and up revealed that one-third of consumers made an online bill payment in 2020, the first time the proportion reached that high.
  • ACH rulemaker Nacha approved Bill.com as Nacha Certified. Bill.com provides ACH payment services.
  • February U.S. retail sales, excluding automotive and gasoline, increased 4.6% year-over-year, Mastercard Inc. said in its Mastercard Spending Pulse. Online sales increased 54.7% compared to February 2020.
  • Square Inc. announced it is acquiring a majority stake in music service Tidal for $297 million in cash and stock. The acquisition, Square explained, can help musicians find new ways to support their work using Square’s services, like Cash App.
  • Square also launched Square for Restaurants in Canada.
  • Visa Inc. announced a new locally focused program to foster Black-owned small businesses, with an emphasis on those owned by Black women. The program consists of grants, mentorship, educational and technology resources, and working directly with Black Girl Ventures, an entrepreneurial advocacy organization.
  • NICE Actimize said it is providing its Xceed financial-crime platform to customers of Finastra, a financial-technology provider.


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