Wednesday , November 14, 2018

VeriFone’s Bid To Go Private Progresses and other Digital Transactions News briefs from 5/25/18

  • Point-of-sale terminal maker Verifone Systems Inc. said it talked to “approximately” 42 companies during its go-shop period, which expired at 11:59 p.m. Thursday. None of the companies submitted a bid. As previously announced, publicly held Verifone is set to be acquired during the third quarter by affiliates of an investor group led by Francisco Partners and including British Columbia Investment Management Corp.
  • First Data Corp. plans to sell its payment card processing business in seven Central and Southeastern European countries to Milan-based processor SIA S.p.A. for €375 million ($437.3 million), the companies reported. The sale covers 13.3 million cards generating 1.4 billion transactions annually, and includes ATM and point-of-sale terminal management as well as call-center and back-office services. Approximately 1,400 First Data employees will transfer to SIA. Last year, First Data sold its operations in the Baltics to France’s Worldline S.A. for $85 million.
  • In related news, VersaPay Corp., a provider of electronic invoice-payment solutions, reached a payment-facilitator agreement with First Data.
  • PayPal Holdings Inc., which has long supported payments within Google Pay, announced it has agreed with Alphabet Inc.’s Google unit to extend that support to a wide range of Google properties, including Google Play, Gmail, YouTube, and Google Store.
  • An absence of incentives coupled with security concerns are holding back mobile-payment usage in the United States, according to a report by Yahoo Finance. Mobile-payment services accounted for only about 1% of in-store dollars spent last year, according to findings from 451 Research cited in the report.
  • Tappit, which provides cashless-ticketing services, announced the opening of a Los Angeles office as part of its global expansion from its base in the United Kingdom.
  • Payment processor Comdata Inc. announced enhancements to its Comcheck Mobile platform intended to ease funds management in the trucking industry.
  • Global payments provider Uphold Inc. announced it has completed an integration with Ripple Inc.’s XRP ledger, the backbone of Ripple’s XRP digital currency.
  • Payments specialist Sphere Payments LLC promoted Steven Neel to chief financial officer. Neel is the former executive vice president of finance at Anovia Payments, which Sphere recently acquired.
  • Fraud-management firm Kount Inc. named Tricia Phillips senior vice president of product and strategy. Phillips most recently was a research director at Gartner Inc.

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