With New Funding, Central Payments Is Spun Out and other Digital Transactions News

  • Central Payments, a unit of Central Bank of Kansas City, completed a $30 million funding round, which was led by Castle Creek Capital and with more investment from Launchpad Capital. The funding spins the company out from Central Bank.

  • PayGround, a digital wallet for medical bills, launched a “get healthy now, pay later” feature to let users finance health-care obligations.

  • Raydiant, a technology provider for restaurants, has integrated with Block Inc.’s Square app to perform tasks such as updating digital signage and allow access to Raydiant self-service checkout kiosks.

  • Square released a study indicating increasing adoption of digital technology by the United Kingdom’s professional services industry. In one example, two-thirds of surveyed businesses said cloud technology, more accessible data, and remote working had improved their businesses. The survey drew responses from 300 respondents.

  • Payment processor Usio Inc. reported second-quarter revenue of $16.2 million, a 6.6% increase from $15.2 million in the same quarter a year ago. It posted a loss of $1.9 million, which appears largely attributed to an increase in its selling, general and administrative expenses line item.

  • Payoneer Global Inc. reported second-quarter revenue of $148.2 million, a 33.5% increase from $111 million in the 2021 second quarter. It reversed a loss of $12.4 million in last year’s second quarter to a profit of $4.4 million this year. Payoneer said a 50% revenue increase in emerging markets contributed to the quarter’s performance.

  • Point-of-sale system maker Toast Inc. said its total number of location reached approximately 68,000, a 40% increase from the second quarter of 2021. Its revenue for the quarter was $675 million, a 58.5% increase from $426 million in same period a year ago. It narrowed its quarterly loss to $54 million from a $135 million loss the same period a year ago.