Saturday , March 23, 2019

Suitor Submits Another Mitek Bid and other Digital Transactions News briefs from 12/10/18

  • In an escalation of its bidding war for remote deposit capture software provider Mitek Systems Inc., business-software firm ASG Technologies, a portfolio company of the hedge fund Elliott Management Corp., upped its unsolicited buyout offer from $10 per Mitek share to $11.50 in cash. ASG also said there are no financing conditions attached. ASG said it made the higher offer to Mitek’s board of directors privately two weeks ago, but the board has refused to negotiate. A Mitek spokesperson did not respond to a Digital Transactions News request for comment.
  • The CardRates.com Holiday Gift Shopping Survey found that 20% of shoppers in December will use credit cards for all their gift purchases. Thirty-nine percent said they would not use credit cards at all this shopping season.
  • Paramount Management Group LLC said it will provide ATM services to Cooperative de Ahorro y Credito de Lares’s cash machines in Puerto Rico.
  • The Crystal Springs Resort chose the InfoGenesis POS product from Agilysys Inc. as its point-of-sale system across the resort, which covers more than 4,000 acres in Northern New Jersey.
  • SMiT, a Hong Kong-based device maker, said it received PCI certification for its mPOS-SM32 mobile point-of-sale terminal.
  • Square Inc.’s Cash App, a peer-to-peer payment tool, has become the most popular iOS app to buy Bitcoin, displacing an app from cryptocurrency exchange Coinbase.
  • Consumer revolving credit jumped 10.7% in October, according to a seasonally adjusted preliminary annualized estimate from the Federal Reserve.

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