Tuesday , February 18, 2020

USAT Balks at Investor Move and other Digital Transactions News briefs from 11/11/19

  • USA Technologies Inc. said a solicitation from Hudson Executive Capital LP, the unattended payments provider’s largest shareholder, to call a special shareholder meeting is invalid under the company’s bylaws. HEC wants to take control of USA Technologies’ board of directors with its own slate of director nominees.
  • The Singles Day shopping event on China’s Alibaba e-commerce platform exceeded $31 billion in gross merchandise value, according to late reports, surpassing last year’s record $30.7 billion. The event is said to be the world’s largest e-commerce promotion, topping Amazon Prime Day and Black Friday.
  • The New York State Department of Financial Services is investigating allegations of gender discrimination by the Apple Card, which is issued by Goldman Sachs, CNN reported. Tech entrepreneur David Heinmeier Hansson said Apple Card offered him a credit limit 20 times that of his wife, although they have shared assets and she has a higher credit score. Apple Inc. co-founder Steve Wozniak also said his credit limit was 10 times that of his wife despite the fact that they share all assets and accounts.
  • The Federal Bureau of Investigation announced that Romanian authorities arrested a 37-year-old national and extradited him to the United States on an indictment alleging he was involved with unidentified co-conspirators in an ATM skimming scheme in Utah in 2015 that led to the withdrawal of $190,000 from at least four bank ATMs using data from more than 2,000 cards of unsuspecting customers.
  • On Deck Capital Inc., which competes in the market for merchant cash advances, priced $125 million in asset-backed notes in a private securitization.
  • Payments-technology firm Galileo Financial Technology said it opened offices in San Francisco and New York City. The company’s headquarters is in Salt Lake City.
  • Cross-border payments provider Wirex launched a multicurrency Wirex Visa Travelcard for use in the Asia-Pacific region. Supported currencies include cryptocurrency.
  • Payments-technology company Verrency appointed Dickson Chu to its global advisory board. A former executive with such firms as Ingo Money, PayPal, Yahoo!, Living Social, Citi, and Wells Fargo, Chu is currently head of BBVA’s San Francisco office for new digital businesses.
  • Certified Payments named Jaime De La Vega vice president of sales. De La Vega most recently was vice president of sales at JPMorgan Chase & Co.

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