Tuesday , December 10, 2019

Digital Transactions News staff

Final Arguments Heard in MDL 1720 Interchange Suit and other Digital Transactions News briefs from 11/8/19

U.S. District Judge Margo K. Brodie heard final arguments from lawyers Thursday on the fairness of a proposed settlement in the 14-year-old MDL 1720 credit card interchange case but, as attorneys involved in the case said was probable, did not make an immediate determination from the bench. Brodie in January gave preliminary …

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USAA Wins $200 Million RDC Lawsuit and other Digital Transactions News briefs from 11/7/19

A U.S. District Court jury in Marshall, Texas, awarded USAA $200 million in damages after finding that Wells Fargo & Co. infringed on two patents held by USAA related to mobile check deposit. USAA filed the suit in June 2018. USAA in August 2018 filed a separate suit in the same court against Wells …

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20 European Banks Challenging Card Networks and other Digital Transactions News briefs from 11/6/19

Twenty European banks are working on setting up a pan-European payment system to challenge Visa, Mastercard and technology companies such as Google and PayPal, according to press reports. The project is code-named PEPSI, for Pan European Payment System Initiative.In a development that signals an opening in China’s long-protected payments environment, Chinese mobile-payment giants …

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Investor Targets USAT and other Digital Transactions New briefs from 11/5/19

USA Technologies Inc. issued a statement opposing a move by Hudson Executive Capital LP, the vending-machine payments provider’s largest shareholder, to gain control of the company in the wake of long-running accounting problems that were recently resolved. Hudson’s plan includes the nomination of eight director candidates for election at the company’s next annual meeting. …

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Discover Contactless Cards Coming and other Digital Transactions News briefs from 11/4/19

Discover Financial Services said it will begin issuing contactless cards over the next several months, starting first this month with holders of Discover it and Discover More cards who need cards reissued or replaced. New cardholders will get contactless cards beginning in December.ACI Worldwide expanded its long-term relationship with ATM network operator …

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Western Union and MoneyGram Report Digital Growth, but Falling Revenues

The big wire-transfer providers The Western Union Co. and MoneyGram International Inc. continue to develop their digital services as their agent-based business models struggle in a fast-changing market against rising online players. The two firms on Thursday both reported declining revenues in the third quarter, but Western Union made money …

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Google To Buy Fitbit and other Digital Transactions News briefs from 11/1/19

Google Inc. agreed to acquire Fitbit Inc., producer of smart watches and the Fitbit Pay contactless-payment service, for approximately $2.1 billion. Fitbit has sold more than 100 million devices in its 12 years in business. Google, whose Google Pay mobile-payment service has been in the market since 2015, is part of Alphabet Inc. The …

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Cardtronics Experiences Revenue Increase and other Digital Transactions News briefs from 10/31/19

ATM network operator Cardtronics plc reported revenues of $351.5 million for the quarter ended Sept. 30, up 3% year-over-year. ATM operating revenues totaled $333.4 million, up 1%. The company reported agreements in the quarter to place more than 1,000 ATMs, as well as a renewal and expansion of its agreement with leading …

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Kroger Lifts Visa Ban and other Digital Transactions News briefs from 10/30/19

The Kroger Co. lifted its acceptance ban on Visa credit cards at its Smith’s Food & Drug and Foods Co subsidiaries, according to news reports. Kroger, citing what it called high acceptance costs, first banned the cards at its small Foods Co chain in August 2018 and extended it to the larger Smith’s …

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Uber Money Debuts and other Digital Transactions News briefs from 10/29/19

Ride-share provider Uber Technologies Inc. announced Uber Money, an update to its roster of financial services, mostly for its drivers. Among the products is the relaunch of the Uber credit card in a deal with Barclays. Uber Money also can provide Uber drivers real-time access to their earnings in an Uber Debit …

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