Plaid, the company acquired by Visa for $5.3 billion, was sued in a class action alleging it harvested consumer transaction data without permission. The law suit states “Plaid uses that access to deceptively obtain bank account information from users, accessing information back up to five years, averaging 3,700 transactions per consumer.” CardLinx Insight: The law suit alleges a fear many...

Augeo announced today that it will acquire fellow CardLinx member Empyr. The deal terms were not disclosed. Augeo is a leading digital engagement company and card-linked technology provider to banks. Empyr powers the Yelp card-linked offer program, among other leading publisher platforms. The new company will be called Figg and will have more than 60 million linked cards and $300...

ChaseVisa announced that it had reached an agreement to acquire financial data aggregator Plaid for $5.3 billion. Plaid’s investors include Visa, MasterCard and American Express, among others. Unlike most card-linked data providers who source consumer financial data through secure APIs from banks and payment networks, Plaid relies on a consumer entering their online banking user name and password into a...

Paypal announced its largest acquisition ever with the intended purchase of Honey. Paypal’s Honey deal demonstrates the importance of shopping discounts for payment companies. The Honey acquisition will give Paypal access to consumer preference shopping data and move it from simply a processor of payments to an advertising platform. CardLinx Insight: The move comes relatively late for Paypal compared to...

This week CardLinx member Rewards Network, a provider of marketing, loyalty services, dining rewards programs and financing to the restaurant industry, was acquired in its entirety by TowerBrook Capital Partners L.P., the New York and London-based investment management firm, from Equity Group Investments (“EGI”). The transaction is complete and financial terms were not disclosed. Dan Kazan said to CardLinx in...