Thursday , February 27, 2020

Debit Routing Uncertainty Down Under and other Digital Transactions News briefs from 2/5/20

  • Australian financial regulators might intervene to stop banks from automatically routing contactless debit card payments to the Visa and Mastercard networks and instead give merchants the option of using the country’s EFTPOS network, Reuters reported.
  • RevSpring Financial Services, a provider of collections-support services for health-care firms and other companies, debuted eVokePay, a payment portal that includes digital communications and offers tailored payment options. RevSpring also said it will integrate merchant processor LucentPay’s No-Cost-To-Biller service enabling merchants to charge consumers a service fee to offset payment-processing costs.
  • The Nasdaq Stock Market announced it will delist the common and preferred stock of USA Technologies Inc. Nasdaq trading in USAT’s shares was suspended Sept. 26 because of the vending machine payments provider’s failure to file timely financial reports with the Securities and Exchange Commission as a result of accounting problems. USAT, whose shares now trade over the counter, says it has become current with its filings, but still lost its appeals with the Nasdaq. The delisting becomes effective 10 days after the Nasdaq formally notifies the SEC. USAT already has applied to be relisted. Meanwhile, hedge fund Hudson Executive Capital LP, which owns 16% of USAT and is seeking to take over the company’s board of directors, issued a statement urging USAT to move up the date of its annual shareholder meeting, currently set for April 30.
  • Processor Jack Henry & Associates Inc. said revenues in its payments segment grew 10% year-over-year to $152 million in fiscal 2020’s second quarter ended Dec. 31.
  • HighRadius Corp., a specialist in virtual cards and automation for accounts receivable, and Genpact Ltd., a provider of digital tools for business processes, announced a partnership to provide business-automation services based on advanced machine learning and artificial intelligence.
  • PayByPhone Technologies Inc. said it has been selected as the only mobile-payments provider for parking at more than 1,200 on-street spaces and more than 520 off-street spaces in Concord, N.H.
  • E-commerce services provider BigCommerce introduced a suite of multi-currency features enabling its merchants to present, transact, and settle purchases in more than 100 foreign currencies through pre-built integrations with payment firms such as Adyen, Elavon, Klarna, PayPal’s Express Checkout, and Stripe.
  • Kabbage Inc. announced custom loans are available to merchants using Kabbage Payments.
  • Chargeback-management provider Midigator said it offers unique services to merchants using Visa Inc.’s VMPI dispute-resolution program, including easier onboarding to VMPI and reporting features.
  • Bitcoin SV, a cryptocurrency created in 2018 by a fork in the Bitcoin Cash cryptocurrency, said it completed its so-called Genesis hard fork, an update that “returns the Bitcoin protocol as closely as possible to the original released in 2009.”

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