Wednesday , November 14, 2018

Bob Carr Charged With Insider Trading and other Digital Transactions News briefs from 7/10/18

  • The Securities and Exchange Commission filed a federal civil lawsuit Tuesday accusing former Heartland Payment Systems Inc. CEO Robert O. Carr and his girlfriend, Katherine M. Hanratty, with insider trading. Carr allegedly tipped Hanratty ahead of the December 2015 public announcement that Global Payments Inc. planned to acquire Heartland, and gave her $1 million to buy Heartland stock before the public announcement. Hanratty bought 11,000 shares, whose price rose substantially when the merger was announced. She eventually sold the shares and pocketed a $250,000 profit, the SEC alleges. Global Payments made similar accusations in a suit it filed against Carr in late May, allegations which Carr denied.
  • Two insurance companies are suing cybersecurity firm Trustwave Holdings Inc. over $30 million in payouts the two firms made to Heartland Payment in the aftermath of Heartland’s 2009 data breach. The insurers allege Trustwave, which was a security provider to Heartland, failed to detect malware on Heartland’s system. Heartland ended up paying $148 million in fees and damages resulting from the breach. Trustwave issued a statement saying the suit is “without merit.”
  • Data Age Business Systems, which provides point-of-sale software for the pawn industry, launched TxTPay, a mobile-payments service that enables consumers to make payments for loans owed to pawn shops with debit or prepaid cards on their mobile devices without having to visit the pawn shop.
  • Boston Medical Center is the first client to use an integration of InstaMed’s External Payment Page in the Epic App Orchard, an app marketplace and a source of application programming interfaces for developers.
  • Outdoor gear and apparel chain L.L. Bean Inc. announced it is issuing a new cobranded Mastercard with Citi Retail Services, a unit of Citigroup Inc.
  • Mastercard Inc. said that Jacksonville-based Florida Capital Bank N.A. is using the Mastercard Send service to facilitate real-time funds disbursements from the bank’s corporate customers to U.S. debit cards.
  • In other Mastercard news, the network reportedly is talking with British banks about issuing payment cards with fingerprint scanners, according to CNBC.
  • The U.S. Payments Forum released a white paper entitled “Signature Best Practices” regarding signature storage and capture for U.S. EMV transactions.
  • The Secure Technology Alliance announced a webinar on mobile identity credential use cases for July 26.
  • North American Payment Solutions hired Devon Lildhar as vice president of sales for Canada to help expand the company’s presence in Canada.
  • ACI Worldwide announced Sylvie Boucheron-Saunier, senior vice president in the company’s merchant-payments unit, has been elected to the executive board of nexo standards, a global association working on standards for card acceptance.

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