Digital Transactions Authoritative, insightful and timely information for payments professionals
During the last 20 years, I’ve worked for, consulted for, partnered with, or analyzed hundreds of payments companies and thousands of other firms that are in some way connected with payments companies, either as customers, prospects, or partners. Many of those companies have been highly successful, some explosively so. Others …
July, 2016
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1 July
Cardtronics Completes UK Headquarters Move and other Digital Transactions News briefs
• ATM network operator Cardtronics plc, formerly Cardtronics Inc., completed its plan to re-domicile in the United Kingdom following approval of the plan by shareholders June 28. Cardtronics’ North American headquarters will remain in Houston, while its European headquarters will be in London. The company’s stock will continue to trade …
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1 July
Will Wal-Mart Give Visa the Boot in Canada?
Speaking of merchant-network skirmishes, fighting between Wal-Mart Stores Inc. and Visa Inc. broke out anew last month when, citing high acceptance costs, Wal-Mart’s Canadian unit announced that it will no longer accept Visa payment cards in its stores through a gradual phase-out set to begin July 18. Wal-Mart’s carefully phrased …
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1 July
Certification Delays Crash VeriFone’s EMV Party
It was great while it lasted, but it looks like the chip card party is over for VeriFone Systems Inc., the leading U.S.-based point-of-sale terminal maker, at least for now. The U.S. conversion to EMV chip cards had produced a North American revenue windfall for VeriFone over the past couple …
June, 2016
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30 June
Visa’s Counterclaim in Debit Dispute Accuses Wal-Mart of Contract Fraud
Visa Inc. on Wednesday filed a counterclaim against Wal-Mart Stores Inc. alleging that the retailer’s May lawsuit against the network is not an issue involving violations of federal regulations regarding debit cards, as Wal-Mart cast it, but a contract dispute. Visa says Wal-Mart “fraudulently induced” it to sign an acceptance …
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30 June
Uncertainty Shrouds Huge Interchange Settlement After Appellate Court’s Stunning Veto
A federal appeals court on Thursday threw out a massive agreement initially reached four years ago over card-network interchange and acceptance rules, drawing a sudden veil of uncertainty over crucial legal matters much of the payments industry had thought were all but settled. In a 41-page opinion studded with sometimes …
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30 June
Global Payments To Relocate and other Digital Transactions News briefs
• In a huge legal development for the payment card industry, the Second U.S. Circuit Court of Appeals today overturned a lower court’s 2013 approval of a $7.25 billion settlement of a merchant class-action lawsuit accusing Visa, MasterCard, and some banks of antitrust violations in setting credit card interchange. The appellate …
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30 June
Global Payments To Relocate and other Digital Transactions News briefs
• In a huge legal development for the payment card industry, the Second U.S. Circuit Court of Appeals today overturned a lower court’s 2013 approval of a $7.25 billion settlement of a merchant class-action lawsuit accusing Visa, MasterCard, and some banks of antitrust violations in setting credit card interchange. The appellate …
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29 June
Wirecard Comes to the U.S. As Citigroup Retreats From Prepaid Cards
Citigroup Inc. on Wednesday announced it has struck a definitive agreement to sell its institutional Prepaid Card Services unit to Munich, Germany-based Wirecard AG. The deal is significant in that it will give Europe’s second-largest payment processor a toehold in the U.S., and it marks the retreat by another big …
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29 June
Hard Rock Hotel & Casino Finds Malware and other Digital Transactions News briefs
• Noodles & Co. reported that malware led to the compromise of an undisclosed number of customers’ credit and debit cards between Jan. 31 and June 2 at 407 locations in 27 states and the District of Columbia representing 80% of its 507 total stores; the fast-casual restaurant chain began …