Latest news with #BarryMcCarthy
Associated Press
3 days ago
- Business
- Associated Press
Deluxe Acquires CheckMatch from Kinexys by J.P. Morgan to Extend Digital Lockbox Payments Capability
MINNEAPOLIS--(BUSINESS WIRE)--Aug 6, 2025-- Deluxe (NYSE: DLX), a trusted Payments and Data company, today announced it has completed the acquisition of CheckMatch from Kinexys by J.P. Morgan, the firm's industry-leading blockchain business unit. Consistent with the company's strategy, this acquisition will expand the Deluxe Payment Network (DPN) solution. CheckMatch is a service that digitizes the delivery of paper checks, enabling faster electronic conveyance, which was developed by Kinexys by J.P. Morgan. The DPN solution digitally connects physical lockboxes across the Deluxe network, which helps to more efficiently process payments made to thousands of businesses across the U.S. By adding CheckMatch to the platform, Deluxe further extends the company's Payments scale, enabling potential revenue and cost synergies. 'In alignment with our strategy to expand in Payments and Data, this acquisition marks a continued investment across our B2B payments portfolio,' said Barry McCarthy, President and CEO of Deluxe. 'By bringing together the strengths of CheckMatch and DPN, we are building the largest purpose-built digital lockbox network in the market—delivering value through scale, security, and simplicity in competition with traditional offerings.' Deluxe has already more than doubled the number of lockboxes accessible through DPN in the first half of 2025. Once integration of CheckMatch is completed—the combined platform is expected to include five of the top 10 U.S.-based lockbox providers and multiple leading disbursement partners, including financial institutions, AP automation platforms, and a major medical payments provider. 'We are thrilled to see CheckMatch become an integral part of a larger vision that embodies our shared commitment of bringing next-gen innovation to the world of finance and delivering exceptional value for our clients,' said Umar Farooq, Global Co-Head of J.P. Morgan Payments. 'We are confident that Deluxe is well-positioned to elevate CheckMatch to the next level and will ensure a seamless transition.' Check payments remain a critical component of the B2B payments ecosystem, particularly for large enterprises, financial institutions, and disbursement partners. This expanded inter-lockbox network delivers meaningful cost savings by eliminating postage, envelopes, labor, handling, and physical check costs for payors—including major bill pay platforms and financial institutions. For payees, the process remains virtually unchanged. Payments follow the same well-established lockbox protocols, but are now delivered digitally—streamlining operations without disrupting treasury workflows. By digitizing the delivery of check payments, the network simplifies reconciliation, improves reliability, and helps treasurers manage payments with greater speed and confidence. As the network scales, participants will benefit from increased efficiency and growing value through shared infrastructure and reach. A division of J.P. Morgan Payments, Kinexys by J.P. Morgan has exceeded $2 trillion in notional value 1 to date, processing on average $3 billion daily in transaction volume 2. Payment transactions on the platform have grown by 10x year-over-year 3, with clients now spanning five continents. The business is transforming how information, money and assets move around the world, helping clients harness the speed and efficiency enabled by blockchain technology. About Deluxe Deluxe, a Trusted Payments and Data Company, champions business so communities thrive. Our solutions help businesses pay, get paid, and grow. For more than 100 years, Deluxe customers have relied on our solutions and platforms at all stages of their lifecycle, from start-up to maturity. Our powerful scale supports millions of small businesses, thousands of vital financial institutions and hundreds of the world's largest consumer brands, while processing more than $2 trillion in annual payment volume. Our reach, scale and distribution channels position Deluxe to be our customers' most trusted business partner. To learn how we can help your business, visit us at 1. JPMC proprietary data 2024 2. JPMC proprietary data 2024 3. Based on Jan.-Aug. 2023 vs. 2024 YoY transaction volume attributed to growth driven by Kinexys Digital Payments. View source version on CONTACT: Brian Anderson, VP, Strategy & Investor Relations 651-447-4197 [email protected] Negrin, VP, Communications 612-669-1459 [email protected] KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA INDUSTRY KEYWORD: TECHNOLOGY PAYMENTS FINANCE FINTECH BUSINESS PROFESSIONAL SERVICES DIGITAL CASH MANAGEMENT/DIGITAL ASSETS SOFTWARE DATA MANAGEMENT SOURCE: Deluxe Copyright Business Wire 2025. PUB: 08/06/2025 09:18 AM/DISC: 08/06/2025 09:18 AM
Business Wire
3 days ago
- Business
- Business Wire
Deluxe Acquires CheckMatch from Kinexys by J.P. Morgan to Extend Digital Lockbox Payments Capability
MINNEAPOLIS--(BUSINESS WIRE)--Deluxe (NYSE: DLX), a trusted Payments and Data company, today announced it has completed the acquisition of CheckMatch from Kinexys by J.P. Morgan, the firm's industry-leading blockchain business unit. Consistent with the company's strategy, this acquisition will expand the Deluxe Payment Network (DPN) solution. CheckMatch is a service that digitizes the delivery of paper checks, enabling faster electronic conveyance, which was developed by Kinexys by J.P. Morgan. The DPN solution digitally connects physical lockboxes across the Deluxe network, which helps to more efficiently process payments made to thousands of businesses across the U.S. By adding CheckMatch to the platform, Deluxe further extends the company's Payments scale, enabling potential revenue and cost synergies. 'In alignment with our strategy to expand in Payments and Data, this acquisition marks a continued investment across our B2B payments portfolio,' said Barry McCarthy, President and CEO of Deluxe. 'By bringing together the strengths of CheckMatch and DPN, we are building the largest purpose-built digital lockbox network in the market—delivering value through scale, security, and simplicity in competition with traditional offerings.' Deluxe has already more than doubled the number of lockboxes accessible through DPN in the first half of 2025. Once integration of CheckMatch is completed—the combined platform is expected to include five of the top 10 U.S.-based lockbox providers and multiple leading disbursement partners, including financial institutions, AP automation platforms, and a major medical payments provider. "We are thrilled to see CheckMatch become an integral part of a larger vision that embodies our shared commitment of bringing next-gen innovation to the world of finance and delivering exceptional value for our clients," said Umar Farooq, Global Co-Head of J.P. Morgan Payments. "We are confident that Deluxe is well-positioned to elevate CheckMatch to the next level and will ensure a seamless transition." Check payments remain a critical component of the B2B payments ecosystem, particularly for large enterprises, financial institutions, and disbursement partners. This expanded inter-lockbox network delivers meaningful cost savings by eliminating postage, envelopes, labor, handling, and physical check costs for payors—including major bill pay platforms and financial institutions. For payees, the process remains virtually unchanged. Payments follow the same well-established lockbox protocols, but are now delivered digitally—streamlining operations without disrupting treasury workflows. By digitizing the delivery of check payments, the network simplifies reconciliation, improves reliability, and helps treasurers manage payments with greater speed and confidence. As the network scales, participants will benefit from increased efficiency and growing value through shared infrastructure and reach. A division of J.P. Morgan Payments, Kinexys by J.P. Morgan has exceeded $2 trillion in notional value1 to date, processing on average $3 billion daily in transaction volume2. Payment transactions on the platform have grown by 10x year-over-year3, with clients now spanning five continents. The business is transforming how information, money and assets move around the world, helping clients harness the speed and efficiency enabled by blockchain technology. About Deluxe Deluxe, a Trusted Payments and Data Company, champions business so communities thrive. Our solutions help businesses pay, get paid, and grow. For more than 100 years, Deluxe customers have relied on our solutions and platforms at all stages of their lifecycle, from start-up to maturity. Our powerful scale supports millions of small businesses, thousands of vital financial institutions and hundreds of the world's largest consumer brands, while processing more than $2 trillion in annual payment volume. Our reach, scale and distribution channels position Deluxe to be our customers' most trusted business partner. To learn how we can help your business, visit us at 1. JPMC proprietary data 2024 2. JPMC proprietary data 2024 3. Based on Jan.-Aug. 2023 vs. 2024 YoY transaction volume attributed to growth driven by Kinexys Digital Payments.
Yahoo
19-07-2025
- Business
- Yahoo
Deluxe pivots to digital and data
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Deluxe, known as the provider of paper checks, isn't counting on customers clinging to checks forever, but a pivot to faster-growing segments hasn't come quick enough to stem a revenue decline. While only about 2.5% of consumer payments are still made by check in the U.S., after years of decline, business and government are still dependent on checks. President Donald Trump is fueling the latest shift away from that inefficient paper product, mandating that federal government agencies toss aside the use of checks by the end of September. Minneapolis-based Deluxe understands the direction the payments industry is headed. The company is leaning into its non-paper enterprises, with payments processing; business-to-business payments services; and the sale of marketing data now accounting for two-thirds of its $2.1 billion in annual revenue, Deluxe CEO Barry McCarthy said in an interview this month. Meanwhile, the sale of checks drives just $700 million of income. 'We've been very, very clear that we are taking the company's legacy in paper payments to grow a large digital payments and data business,' McCarthy said. 'We are taking the resources, the relationships, the brand recognition, the trust we have on the paper payment side to build tremendous momentum on the digital payment side.' The 21st-century strategy appears to be working. The publicly-traded company doubled its net income last year to $52.9 million over 2023 on a revenue increase of 5.4% to $384 million, according to its annual filing in February with the Securities and Exchange Commission. McCarthy is pivoting Deluxe's focus after consolidated revenue for the company declined last year by 3.2%, 'due to the continuing secular decline in order volumes for checks, business forms, and some business accessories,' according to the annual filing. On the flip side, the company's fastest-growing business revolves around the trove of data it has collected from more than 100 sources, including its consumer customers over the years. That marketing business, based in New York, is growing at a 20%-plus clip annually. The data includes everything from information on divorces and car leases to births and elderly parents to business locations and new bank accounts. Then it sells that information to businesses focused on servicing consumers, such as property and casualty insurers, telecommunications companies and retailers. 'We know all of this information at massive scale, I think it's over a trillion unique pieces of data about small businesses and consumers in the United States,' McCarthy said. 'All of those businesses hire us to provide them a target list of who to go market to, and then we can deliver the marketing message all the way to that end customer.' To be sure, the data business is still the smallest of Deluxe's three non-check segments, accounting for 11% of revenue. The other two, including payments processing and business-to-business payments services, drive 18% and 14%, respectively, according to the SEC filing. In the processing business, Deluxe competes against the larger payments processors, such as Fiserv and Global Payments, by pitching itself as a more customized option, McCarthy said. The merchant acquiring services include managing credit card and debit card acceptance for small to mid-sized businesses. Clients include independent sales organizations, insurers, niche retailers and banks that resell the services, as well as government entities. The bigger rivals 'are so largescale, they have to do it one way and one way only,' McCarthy said of his larger competitors. 'If you want different settlement windows, you want different feature functionality, it's very hard for them.' McCarthy knows the processing business well because he spent 14 years at the processor First Data before it became Fiserv. After being appointed CEO of Deluxe in 2018, he focused the company's strategy, partly by divesting some entities that didn't fit with the other major parts of the business. The third non-check segment at Deluxe is its business-to-business division that offers accounts receivable and payable services to companies as they shift their payments processing away from paper-based methods. About '40% of those (business) payments are still made by paper check today, both inbound and outbound, so there is still a massive opportunity,' McCarthy asserted. Despite the Deluxe's efforts to move away from its more traditional manual services for businesses, more than half of the company's revenue, 57%, still comes from paper-based products, including promotional materials and business forms, according to its annual filing. McCarthy knows that Deluxe needs to do a better job of marketing its non-paper services if it wants to keep building its electronic payments business. 'We have marketing and sales work to do to get the story out,' he acknowledged. Recommended Reading Trump calls on federal gov't to banish paper checks Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-07-2025
- Business
- Yahoo
Why Peloton Stock Lost 20% in the First Half of the Year
The connected fitness company pulled back as consumer sentiment fell. Revenue continued to decline at Peloton, though it made progress in cost cutting. A turnaround depends on returning the top line to growth. 10 stocks we like better than Peloton Interactive › Peloton Interactive's (NASDAQ: PTON) woes have continued so far this year as the connected fitness company is still struggling to grow and turn a profit as it's been unable to overcome its post-pandemic collapse. While some investors continue to hope for a turnaround, there was little sign of one in its two quarterly reports through the first half of the year. The stock also fell in June when the Senate blocked spending from Health Savings Accounts (HSAs) on gym memberships and personal fitness activities. Through the first half of the year, the stock was down 20% according to data from S&P Global Market Intelligence. As you can see from the chart below, the stock fell through February and March, and only managed a modest recovery in the second quarter even though the broad market soared. After announcing last year that Barry McCarthy would step down as CEO, the company began the year with a new chief executive, Peter Stern, who is a co-founder of Apple Fitness. Peloton shares were up briefly in February as investors bid the stock higher after its Q2 earnings report on Feb. 6 even though the business continued to struggle. Revenue fell 9% to $673.9 million, and subscribers and members both fell. The company also managed to flip a $81.7 million adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss from the quarter the year before to a profit of $58.4 million. Later in February and into March, the stock began to fall even as there was no company-specific news out. Instead, the stock seemed to fall in response to weakening consumer sentiment and the broader decline in the stock market. As a seller of high-priced exercise equipment, Peloton is clearly sensitive to consumer spending. In April, the company announced a leadership transition, bringing in Charles Kirol as COO. In its fiscal Q3 earnings report, revenue fell again, declining 13% to $624 million, though its cost-cutting efforts paid off as it continued to narrow its generally accepted accounting principles (GAAP) net loss, which improved from $167.3 million to $47.7 million. On June 17, the stock fell 12% as the Senate removed a provision from a bill to allow health savings accounts (HSAs) to be used for things like Peloton equipment. Peloton is making progress on the bottom line thanks to its cost-cutting strategy, and it did raise its revenue guidance in its most recent report. However, it's hard to say that its turnaround strategy is working until the company is able to demonstrate steady growth in both revenue and subscribers. It could take a while for the company to get back there. Before you buy stock in Peloton Interactive, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Peloton Interactive wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,432!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,005,854!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of July 7, 2025 Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Peloton Interactive. The Motley Fool has a disclosure policy. Why Peloton Stock Lost 20% in the First Half of the Year was originally published by The Motley Fool Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Belfast Telegraph
02-07-2025
- Sport
- Belfast Telegraph
Leinster Lightning thrash Northern Knights to move one step closer to Interpro crown
Barry McCarthy's new-ball burst did the damage as he removed Paul Stirling, Ross Adair and Morgan Topping in the first 10 balls of his spell to leave them reeling on 14 for three. Those three scalps took him to the top of the bowling charts with 12 victims. The Knights never really recovered from those early blows despite the best efforts of Cade Carmichael, who hit five fours and a maximum in a 19-ball 30, and some late resistance from Ruhan Pretorius, who also made 30 (two fours, two sixes). David Delany also claimed three wickets, while Josh Little, over from Middlesex to bring the Dubliners' international contingent to eight, also took two for 20 as the Belfast side were bowled out in the 19th over for 123. Tim Tector was quickly in his stride as he made a mockery of the Knights' attack, plundering it at will. The Pembroke opener clubbed eight fours and six sixes in a whirlwind unbeaten 81 from only 43 deliveries. He dominated an opening stand of 53 in five overs with Chris De Freitas, going on to add an unbroken 74 for the second with elder brother Harry (34 not out), as the nine-wicket win was sealed in the 13th over. It now seems likely that Lightning will be crowned champions this week, unless they suffer a severe loss of form. In the morning game, the Warriors recovered from a precarious 57 for five to post 186 for seven in a 57-run victory against Munster. Irish passport holding Australian Jake Egan was the Warriors batting hero, as he went through the gears making an impressive 52-ball unbeaten 87 that included eight fours and four sixes. He added 52 for the sixth wicket with Graham Hume (18), but the real fireworks came as he and David O'Sullivan (26 not out) bludgeoned 51 in 26 balls — 43 of those coming in the last two overs as Munster disintegrated. Swapnil Modgill (33) and Kian Hilton (20) started the chase well, and the game was evenly poised at 62 for one. However, Andy McBrine struck twice in two balls on his way to three for seven, while there were also two scalps each for Robbie Millar and Graham Hume in a bonus point win. In the Under-17 youth interprovincials there were wins for defending champions Leinster and the North West. North County's Johan George was again among the wickets taking four for 25 as Leinster dismissed the hosts for 126. Donacloney Mill left-arm spinner Alex Ogle took three wickets in the chase, but Brian Dunphy's 51 (eight fours) and an unbeaten 35 from Robert O'Brien — nephew of Niall and Kevin — clinched the six-wickets win. James Smallwoods hit an undefeated 91 (eight fours) as the North-West chased down 173 to beat Munster by nine wickets. Smallwoods shared an opening stand of 105 with Bobby Brolly (40) and a further unbroken 70 with his Brigade team-mate Murtajiz Hussain (21*) in the comfortable win. The Irish Senior and National Cup Semi-Final draws are due to be released today but it appears that Ballyspallen have been thrown out of the competition for fielding an ineligible player. South African Test player Eddie Moore scored 142 in their win at Terenure on Sunday, but apparently no new players should have been registered from the Quarter-Finals onwards.
