Friday , February 22, 2019

Kiosks & Ticketing Machines

Goldman Sachs in Apple Credit Card Deal and other Digital Transactions News briefs from 2/21/19

Apple Inc. and the Goldman Sachs Group Inc. will begin issuing a joint credit card this spring, The Wall Street Journal reported. The new card will tie into the Apple Wallet. Apple’s brand already is on a credit card issued by Barclaycard. It is unknown what will happen to that …

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USA Technologies Suffers a Setback in Its Effort To Escape the Shadow of Accounting Problems

Shares of USA Technologies Inc. lost half their value Thursday morning on news that the vending-machine payments provider’s auditor had resigned and that some of the company’s previous financial statements are unreliable. In a Feb. 1 letter to the audit committee of USAT’s board of directors, Chicago-based auditor RSM US …

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Discover Reports 4Q Results and other Digital Transactions News briefs from 1/25/19

Discover Financial Services said its payments services operation, which includes network partners, Diners Club International, and the Pulse electronic-funds transfer network, processed $60.5 billion in total volume in the fourth quarter, a 12% increase year-over-year. Volume on Pulse jumped 11% to $47.1 billion owing to new issuers as well as …

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Sales Pressure Led To Premature Revenue Recognition, USA Technologies Reports

Vending-machine payments provider USA Technologies Inc. has announced several senior-level management changes, including the departure of its chief financial officer and the creation of a new chief operating officer position, as well plans to improve its corporate governance in the wake of an investigation into its accounting practices. The probe …

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Merchant Crypto-Acceptance API Released and other Digital Transactions News briefs from 12/31/18

Bits of Gold, said to be one of the largest cryptocurrency exchanges in Israel, has developed an application programming interface that allows merchants to accept cryptocurrency and receive value in the form of U.S. dollars or Israeli shekels. Cybersecurity news outlet The Hacker News said PayPal Holdings Inc. banned without explanation …

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The NASDAQ Accepts USA Technologies’ Compliance Plan, but an Internal Probe Continues

Vending machine payments provider USA Technologies Inc. reported Wednesday that The NASDAQ Stock Market LLC has accepted its plan to regain compliance with its listing rule. The company, however, still hasn’t completed an internal investigation of customer contracts that has delayed the filing of its financial reports. The NASDAQ in …

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General-Purpose Contactless Payments Continue To Struggle on U.S. Transit Systems

Contactless fare payments are still booming on London’s massive public-transportation network, but it’s a different story in the United States despite years of talk and testing. The latest figures from Transport for London, the agency that oversees the United Kingdom capital city’s subways and buses, show an average of 1.48 …

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Proposed Tariffs on Chinese Goods Draw More Opposition From the Payments Industry

The escalating U.S.-China trade war is generating calls for a truce from the payments industry. Most recently, the ATM Industry Association announced its opposition to planned U.S. tariffs on Chinese goods, calling them a “threat to business.” ATMIA members are expected to testify at a tariff hearing next week in …

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Cash Favoritism Still Benefits Cardtronics, Especially in the Wake of Payment-Network Failures

Cardtronics plc may have been one of the few companies to benefit from Visa Inc.’s June 1 outage in Europe. It notched a record high volume in the United Kingdom, Edward H. West, Cardtronics chief executive and director, told analysts during a conference call Thursday to discuss the ATM deployer’s …

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Diebold Nixdorf Shares Plunge 34% in Wake of Loss and Worsened Outlook

Shares of Diebold Nixdorf Inc. plummeted 34% in late Wednesday morning trading after the ATM manufacturer and banking and retail hardware and software provider reported an unexpectedly large second-quarter loss and said it is looking to revise its lending agreements in the face of lowered financial predictions. “While revenue was …

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