Competitive Strategies

Hamburger chain The Wendy’s Co. announced a $50 million settlement of class-action lawsuits filed against it after a data breach that began in 2015. The 7,500 bank and credit-union plaintiffs alleged the breach was caused by malware that affected point-of-sale systems at more than 1,000 franchised Wendy’s locations. Some 18 …

Cincinnati-based grocery giant The Kroger Co. has launched a proprietary mobile-payments service, Kroger Pay, and an accompanying Kroger Rewards debit card. Kroger Pay, available for iOS and Android mobile devices, is a quick-response code-based mobile-payment service, which also includes digital coupons and personalized offers. Kroger Pay, like some other retailer-backed mobile-payments services, …

JPMorgan Chase & Co. will within a few months begin testing its own cryptocurrency for wholesale payments between corporations and banks globally, according to CNBC. The new token, called JPM Coin, will be exchangeable at the rate of $1 each. The development may surprise some observers, given the harsh criticism …

Ingenico Group’s business generated through North American banks and merchant acquirers had a difficult 2018, the company reported Tuesday. Full-year revenues from North America within the Paris-based point-of-sale terminal maker and payment processor’s Banks & Acquirers segment declined 9% year-over-year on a constant-currency comparable basis and 13% as reported to …

Global Payments Inc. on Wednesday credited a technology-centered strategy it has developed over the past six years for record results in 2018. Chief executive Jeff Sloan also pointed to the increasing investments required of payments providers as a leading cause of industry consolidation, in particular the pending merger of industry …

Grocer The Kroger Co. launched Kroger Pay and the Kroger Rewards debit card. Kroger Pay, available for iOS and Android mobile devices, is a Quick Response code-based mobile-payment service, which also includes digital coupons and personalized offers. Currently, Kroger Pay is available in Columbus, Ohio, with plans for nationwide expansion …

While global card expenditures will increase 80% to $45 trillion by 2023 from $25 trillion in 2017, growth in the United States will be slow compared to other regions because the U.S. is already a well-developed market, says RBR Research in its “Global Payment Cards Data and Forecasts to 2023” …

Fidelity National Information Services Inc. expects further processor mergers in the near term and isn’t averse to initiating them in cases where they fit the company’s strategy, its chairman and chief executive said Tuesday morning. “We will always look for opportunities,” said Gary Norcross, who is also president of the …

E-commerce and payment-services provider Shopify Inc. said fourth-quarter gross payment volume hit $5.8 billion, up approximately 65% from $2.3 billion a year earlier. The net loss narrowed to $1.5 million versus $3 million in 2017’s fourth quarter. Merchant acquirer Elavon in partnership with American Express Co. unveiled a service intended …

Speed is a key selling point for person-to-person payments, but many P2P users aren’t taking advantage of real-time payment capabilities offered by their providers, according to research firm Aite Group LLC. Answers from 693 consumers who had used a digital P2P account to receive money in the 12 months ending …