Almost a year to the day after Visa Inc. announced its intent to acquire Plaid, the two organizations announced they’re terminating the proposed transaction. The companies agreed with the DOJ to dismiss related litigation. CardLinx Insight: The termination of the deal indicates the high price that Visa and Plaid paid for pursuing a proposed deal that was perceived to run...

The largest bank in the U.S. has purchased the division of Loyalty Group Holdings that designs, administers and fulfills credit card loyalty and customer engagement programs The move suggests JPMS is betting on a travel comeback. CardLinx Insight: The acquisition affirms that the connection between cards and travel isn’t going away, despite the challenges of the pandemic. Other banks, card...

The US president signed an executive order yesterday banning US transactions with Chinese apps, including Alipay, owned by Ant Group Co., and WeChat, held by Chinese tech giant Tencent. The order takes effect in 45 days after the end of the current administration. The administration claims the apps access private information from US users that can be used by the...

Consumer, member and employee loyalty and engagement solutions leader Augeo announced its acquisition of Deluxe Rewards today. Deluxe Rewards’ patented, dual-currency technology lets CardLinx member Augeo offer unique, experiential rewards to end users for less cost with minimal levels of accrued liability. CardLinx Insight: Augeo is seizing on a unique marketplace opportunity that enhances its offering and strengthens its competitive...

CardLinx member Collinson launched a service at London’s Heathrow airport enabling passengers arriving from the US to get a free Covid-19 test. A negative result eliminates the government-imposed 14-day quarantine requirement for travelers arriving in the UK on select airlines from select US cities. CardLinx Insight: Collinson is built around delivering meaningful experiences for its clients’ customers—in this case for...

A redesigned Google Pay was launched yesterday. Available in the US on Android and iOS, the updated app expands the payments and commerce ecosystem across a broader range of platforms, devices and payment types. The multinational tech company also announced plans to offer smart banking via FI partnerships. The changes are being made to give consumers more control over their...

Visa’s plans to acquire financial technology startup Plaid Inc. were thwarted yesterday when the US Justice Department filed an antitrust lawsuit. The DOJ contends that Plaid, that powers Paypal’s Venmo and other payment apps, competes with Visa, and that the $5.3 billion acquisition would create a monopoly in online debit leading to higher prices and discouraging industry innovation. CardLinx Insight:...

Proposition 24, also known as the California Privacy Rights and Enforcement Act of 2020, passed. The new law protects sensitive consumer financial data, allowing consumers to request personal information not be shared; requiring businesses to get permission before collecting data from consumers younger than 16; and requiring businesses to correct data inaccuracies upon request. Prop 24 also creates an agency...

The world’s largest initial public offering has been disqualified by Chinese regulatory agencies. Fin-tech giant Ant Financial Group’s controlling shareholder Jack Ma and two other top executives got the news from Chinese regulators today. As a result, The Shanghai Stock Exchange suspended the IPO, which was scheduled for Thursday. A concurrent Hong Kong listing will also be suspended. The halted...

CardLinx member FIS today announced the addition of Walgreens to the growing list of merchants and retailers using Premium Payback, FIS’ real-time rewards redemption network. Starting this month, Walgreens’ customers with eligible payment cards will be able to tap into their credit card rewards points in real-time to pay for in-store purchases. CardLinx Insight: Look for FIS to continue to...

The CardLinx Association released industry data revealing the latest trends in digital commerce and card-linked offers or “CLO”. Based on input from fin-tech, ad-tech and merchant leaders worldwide, the global trade association’s 2020 findings show significant industry growth, including a 40% increase in the share of advertising budgets devoted to card-linking. “The study reveals demand for card-linked offers is on...

The parent company of CardLinx member 24S of the LVMH Group, the world’s largest luxury retailer, is ending its planned takeover of Tiffany & Company. The government of France requested the deal be delayed on Aug. 31 because of a threat of U.S. tariffs on French goods, as well as coronavirus concerns. CardLinx Insight: The souring of this deal is...