Tuesday , January 28, 2020

USAT Boasts 25% Revenue Increase and other Digital Transactions News briefs from 11/12/19

  • Unattended-payments specialist USA Technologies Inc. held its first quarterly earnings call in more than a year following the resolution of accounting issues. In it, USAT reported first quarter fiscal 2020 revenue of $42.1 million, a 25.7% increase from $33.5 million a year ago. Its net loss for the quarter was $12.8 million, twice as much as $6.3 million last year. USAT’s network had 1.2 million connections at the end of the quarter. USAT appointed Donald W. Layden Jr., a board member and interim chief executive, as executive chairman of the board.
  • FleetCor Technologies Inc. has settled for $50 million a class-action investor lawsuit alleging the company made false or misleading pubic statements regarding fees and reasons for the payments provider’s earnings and growth. FleetCor said it disputed the allegations and agreed to the settlement without admitting to them. The full settlement amount is covered by FleetCor’s insurance policies.
  • Commerce-platform provider FreedomPay Inc. said Marriott International will use its platform across its lodging portfolio in the United States and Canada at first, to be expanded into other regions. Marriott manages and franchises more than 7,000 properties in 132 nations and territories.
  • Domuso, a specialist in rent payments, announced Mobile Check Pay, a service that enables property-management firms to accept digital images of checks from mobile devices.
  • Transaction Network Services released “The Market Opportunity for Secure Commerce at the Pump” report that found 61% of global respondents prefer paying at the pump versus in store.
  • Presto, a point-of-sale technology provider for the restaurant industry, said it received point-to-point encryption certification as specified by the PCI Security Standards Council.
  • Co-Op Financial Services launched a software-development portal for credit unions.
  • TruNarrative, a United Kingdom-based provider of anti-fraud and compliance software, opened a U.S. headquarters in Atlanta.
  • Fintech Scratch Financial Inc., which specializes in payment plans for veterinary services, hired Jin Han, a former Square Inc. executive, as general counsel and chief administrative officer.
  • Check-payment processor CheckAlt named Ram Bajaj chief information officer. Bajaj’s previous experience includes time at insurance software and consulting firm Perr&Knight.

Check Also

PCI Pal Digital Debuts and other Digital Transactions News briefs from 1/28/20

PCI Pal, a payments provider for contact centers and other card-not-present businesses, launched PCI Pal …

Do NOT follow this link or you will be banned from the site!