Global Payments Acquires ISV: News Roundup

Global Payments completed its acquisition this week, Londoners got a new mobile app for travel, and RBR released a new forecast for the growth of card usage worldwide.

Global Payments announced that it had completed its acquisition of the communities and sports divisions of ISV ACTIVE Network. The companies announced the pending acquisition in August.

Cubic Transportation Systems and Transport for London (TfL) have launched a mobile ticketing app for users of TfL’s Oyster cards. Oyster cards hold travelers’ credit and passes for travel across London’s transportation network, including rail, bus and tube.

The app was developed by Cubic for TfL. It enables Oyster users to manage their fares, purchase travel products and view their travel history.

An article in CNNMoney this week highlighted China’s embracing of QR codes to make payments everywhere from street vendors to major retailers.

The article quotes a restaurant owner who said QR code acceptance will likely soon account for 70% of his transactions.

According to London-based research firm RBR, the number of payment cards in use worldwide increased 8% to 14 billion in 2016. The firm predicts that number will rise to 17 billion by 2022, driven in part by an increase in the banked population resulting from financial inclusion efforts in developing markets.

The new data is from the company’s recently published Global Payment Cards Data and Forecasts to 2022 report.

And according to research conducted by London-based payment facilitator Paysafe, 54 percent of consumers in the U.S., U.K. and Canada plan to stop using cash for their shopping in the next two years.

Nearly a third of U.S. respondents reported using mobile wallets, while three-fifths of consumers in Canada and the U.K. reported regularly using contactless methods to shop, the company said.