- 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. The hedge fund’s prospective nominees include Douglas G. Bergeron, the former CEO of point-of-sale terminal provider Verifone; Michael Passilla, former CEO of merchant acquirers Chase Merchant Services and Elavon, and Ellen Richey, former vice chairwoman and chief risk officer at Visa.
- Retailer Walmart Inc. added Euronet Worldwide Inc.’s Ria subsidiary as a provider of its Walmart2World money-transfer service from U.S. Walmart stores to international pick-up locations. MoneyGram International Inc. had been the exclusive provider of the white-label service since it launched last year. In related news, Walmart, MoneyGram’s largest agent, extended its service agreement with MoneyGram through 2021.
- Visa Inc. invested an undisclosed sum in Lisnr, a startup whose technology offers transmission of mobile payments via sound waves rather than near-field communication or Quick Response codes.
- Riskified, a provider of payments and fraud-prevention technology, reported it raised $165 million in a Series E funding round led by General Atlantic. The round valued the company at more than $1 billion.
- Core processor Jack Henry & Associates Inc. reported a 12% increase in revenue for the third quarter to $438 million. Net income grew 7% to $89.4 million.
- Some 59% of 700-plus payments-industry respondents to a survey conducted for the U.S. Faster Payments Council believe America is not making “satisfactory progress toward faster-payments adoption.”
- In related news, automated clearing house overseer Nacha and the U.S. Faster Payments Council released the Faster Payments Playbook, a Web site to provide information on faster payments.
- POSaBIT Systems Corp., a point-of-sale system provider, announced its entry into the cannabis market in Oregon.
- The volume of business-to-business cross-border payments stored on blockchain will exceed $4.4 trillion by 2024, up from $171 billion this year, reports Juniper Research.
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