Monday , January 18, 2021

Cardtronics Feels 7-Eleven Impact and other Digital Transactions News briefs from 11/2/18

  • ATM network owner Cardtronics plc reported revenues of $340.2 million for the third quarter, down 15% from $402 million a year earlier primarily because of the removal of its ATMs from its former largest retailer customer, 7-Eleven Inc., and currency effects. U.S. same-store withdrawal transactions rose 6%, driven by growth in Cardtronics’ Allpoint surcharge-free network. Cardtronics also said Mark Rossi was appointed chairman of its board of directors, succeeding Dennis Lynch.
  • Wire-transfer provider The Western Union Co. posted 71.8 million consumer-to-consumer transactions in the third quarter, up 4% year-over-year. Westernunion.com money-transfer revenues rose 19%.
  • Walmart Inc. filed a federal lawsuit against its former credit card issuer, Synchrony Financial, in a dispute about transferring $10 billion in cardholder balances from Synchrony to Walmart’s new issuer of private-label and cobranded cards, Capital One Financial Corp., Bloomberg reported. Synchrony called the suit, which seeks at least $800 million in damages, “baseless” and said it plans to file claims against Walmart.
  • Square Inc. integrated its Square for Restaurants app to work with its new Square Terminal. Merchants are able to use Square Terminal to access all open checks and complete the payment at tableside.
  • Coinsource Inc., which owns and operates 40 kiosks that enable consumers to buy or sell Bitcoin for fiat currency in the New York City region, was approved for a virtual-currency license by the New York State Department of Financial Services.
  • VersaPay Corp. announced J.J. Haines & Co. LLC, said to be the largest U.S. flooring-distribution company, signed on for ARC processing, which involves using an automated clearing house code to convert checks sent to a biller lockbox into electronic payments.
  • Deloitte released its 33rd annual Holiday Survey that found, among other results, that 47% of consumers shop in stores to avoid shipping costs.
  • Mastercard Inc. in June told U.S. trade authorities that it believes India’s prime minister uses nationalism to promote the Indian payment network RuPay to the detriment of global networks such as Mastercard, Reuters reported.
  • Point-of-sale system provider Upserve Inc. named Sheryl Hoskins its chief executive officer. Hoskins, a U.S. Army veteran, previously worked at Active Network. Upserve founder Angus Davis is now strategic advisor to the company’s board of directors.
  • Yodlee Inc. appointed Sebastian Taveau as vice president of developer experience. A payments-industry veteran, Taveau has worked for Zelle/Early Warning as well as PayPal and Mastercard.

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