Digital Currency

Point-of-sale equipment maker Scansource Inc. announced it will divest distribution businesses in Europe, the United Kingdom, Colombia, Chile, and Peru, as well as its Miami-based export operation, as part of a strategic repositioning. The businesses totaled $623 million in net sales in fiscal 2019.Apple Inc. said its Apple Card is now open to all U.S. …

A CreditCards.com poll found that 49% of U.S. adults usually pay with cash for transactions of less than $10. Thirty-five percent use debit cards and 16% use credit cards. The survey canvassed more than 2,500 adults in July.Eighty-two percent each of Generation X consumers and Baby Boomers buy in-store at least monthly, Blackhawk …

Under pressure from changing market conditions and challenges from digital-based competitors, money-transfer giants The Western Union Co. and MoneyGram International Inc. both reported disappointing second-quarter results. In addition, Denver-based Western Union said it will chop its workforce by 10% over the coming months as part of a cost-reduction campaign it …

Mastercard Inc. has become the first payment card network to join the NoMoreRansom initiative sponsored by Europol, a support-services organization for law-enforcement agencies in the European Union. Europol says the 3-year-old NoMoreRansom public-private partnership project has helped 200,000 ransomware victims recover their computer files free of charge and has prevented …

Shareholders of payment processor Worldpay Inc. this week voted overwhelmingly in favor of the company’s planned merger with Fidelity National Information Services Inc., which is expected to close in the third quarter.The Bancorp Inc., owner of The Bancorp Bank, a major prepaid card issuer, reported gross dollar volume on the bank’s prepaid cards …

Facebook Inc. chief executive Mark Zuckerberg says his massive social-networking company is using an open process to get its proposed Libra cryptocurrency into the market and won’t roll it out until all concerns are addressed. Zuckerberg fielded questions about the controversial Libra project at the company’s second-quarter earnings conference call …

Discover Financial Services’ Payment Services unit reported its transaction volume grew 8% year-over-year to $61.8 billion, a result that included 7% growth for its Pulse electronic funds transfer network. Overall, total Discover revenue net of interest expense increased 10% to $2.85 billion, while net income jumped 13% to $753 million.In related …

Visa Inc.’s net income jumped by a third in the quarter ended June 30, a period when the leading payment card network’s global transaction volume rose nearly 12% and the company completed or announced several acquisitions to broaden its franchise. Visa chairman and chief executive Alfred F. Kelly Jr. told …

The Federal Trade Commission said payment processor Allied Wallet, its CEO and owner Ahmad “Andy” Khawaja, and two company officers agreed to settle FTC charges that they assisted numerous scams by knowingly processing fraudulent transactions that took more than $110 million from consumers’ account.The two-day Amazon Prime Day event this week sold more than 175 …

Facebook Inc. and its proposed Libra cryptocurrency took a beating this week on Capitol Hill, but the outlook for the new coin—and its Calibra wallet—may be more nuanced than that reception would seem to indicate. The skepticism toward Libra was bipartisan, with Senators and Representatives of both major parties raking …