- Seven retail trade groups filed a joint amicus brief in a case now before the U.S. Supreme Court in which 11 states, led by Ohio, are appealing a U.S. Court of Appeals decision that upholds American Express Co.’s rule prohibiting merchants from steering customers to cards with lower acceptance costs. The Supreme Court accepted the appeal in October even though the U.S. Department of Justice, which had been one of the original plaintiffs, urged it not to.
- Edge Mobile Payments said it has acquired the assets of Plastc Inc. and will proceed with development of a screen-based card Plastc had been working on that would allow consumers to store digitized versions of multiple payment cards. Terms were not announced.
- U.S. retail spending is up 3.6% so far this holiday season compared with the same period a year ago, according to Mastercard Inc.’s latest SpendingPulse report. E-commerce sales are up 16.3% since November. Mastercard predicts total holiday retail spending, excluding automotive, could rise 5% over last year, the best showing since 2010.
- Sweden-based point-of-sale hardware and business software provider iZettle AB raised €40 million ($47.1 million) in funding from venture-capital firm Dawn and The Fourth Swedish National Pension Fund.
- Total System Services Inc. (TSYS) extended “for multiple years” a long-term card-processing agreement with Capital One Financial Corp.
- Brian Billingsley, who spearheaded Swedish processor Klarna’s entry into the U.S. market as chief executive of Klarna North America, will join Modo next month as chief revenue officer. Billingsley left Klarna earlier this year. Modo, whose clients include Klarna as well as Alliance Data, Fidelity National Information Services Inc., and Mastercard Inc., processes the data surrounding payment transactions.
- Giact Systems, a vendor of fraud-management services, announced Chris Harper has joined the company as senior vice president of sales. Harper comes to Giact from ACI Worldwide, where he served as director of e-commerce sales.
Payments gurus for years have touted benefits like faster transactions, improved security, and associated rewards …