Fattmerchant Secures $10.5 Million in Funding and other Digital Transactions News briefs

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  • Sundance Payment Solutions launched this month, said president Eric Barth. The company works with independent sales agents to sell a suite of payment-processing services.
  • Payments provider Fattmerchant announced it has closed on a $10.5 million Series C funding round led by Fulcrum Equity Partners. The funding will help launch new technology later this year that will offer card-present and card-not-present tools under a single application programming interface, Fattmerchant said.
  • Clearent Software Holdings, a subsidiary of merchant processor Clearent, completed its acquisition of Compassmax, a developer of point-of-sale software for dry cleaners, the St. Louis Business Journal reported. Clearent plans to combine Compassmax with Spot Business Systems, another developer for the dry-cleaning industry that it acquired earlier this year, with the merged businesses using the Spot name.
  • Payments-technology company ACI Worldwide said it now offers PAX Technology Ltd. point-of-sale terminals to its clients.
  • Chinese technology firm Tencent plans to intensify its penetration of the U.S. market for Chinese travelers and tourists using its WeChat Pay payment service, following similar moves by rival service Alipay, according to an interview by a Tencent executive with CNBC.
  • Global investment in blockchain technology will double this year compared to 2017, reaching $1.5 billion, according to a report from International Data Corp. Investment will increase over the next five years at an annual rate of 73.2%, IDC forecasts, reaching $11.7 billion in 2022.
  • Technologies ranging from virtual ATMs and digitized coins to new password authentication methods and blockchain-based instant payments were among those showcased by startup companies Wednesday at Demo Day 2018, sponsored by Fidelity National Information Services Inc. (FIS), the Venture Center, and the state of Arkansas.

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