Saturday , August 13, 2022

Vending

UPDATED: Herbert Out as CEO of USA Technologies; Interim Leader Appointed

With a proxy fight looming, vending-machine payments provider USA Technologies Inc. announced late Thursday that chief executive Stephen P. Herbert has resigned. Herbert, a former Pepsi-Cola executive, spent 23 years with Malvern, Pa.-based USAT, including eight as CEO. USAT’s board of directors named one of its members, Donald W. Layden …

Read More »

UPDATED: Leading Investor Decries ‘Value-Destructive Conduct’ at USA Technologies, Pushes for Change

The honeymoon is over between vending-machine payments provider USA Technologies Inc. and its largest investor, which on Monday accused the company’s board of directors of “value-destructive conduct” and blasted its top brass for “lack of management qualifications or accountability.” The surly announcement by New York City-based hedge fund Hudson Executive …

Read More »

USA Technologies Finally Files Its Overdue Financial Reports

Unattended-payments provider USA Technologies Inc. announced late Wednesday that it has filed overdue financial reports for its fiscal years 2019 and 2018 ended June 30, as well as several late quarterly reports. The company also restated financial data for some periods dating back to fiscal 2015. The new filings and …

Read More »

USA Technologies Seeks Another Deadline Extension for Filing Late Reports; Shares Plunge

Already nearly a year late in filing the first of several overdue financial reports and with its stock facing delisting, vending machine payments provider USA Technologies Inc. on Wednesday reported it has asked The Nasdaq Stock Market LLC for yet another extension to file required documents. The delay request is …

Read More »

Risks in Credit-Push Transactions Lurk as Faster-Payment Systems Grow

With faster-payment services growing in the U.S. and the Federal Reserve expected to announce Monday whether it will assume a direct operating role in a real-time gross settlement system, banks and payment processors have not yet considered all the risks associated with the new services, according to a new report. …

Read More »

TriMet Adds Apple Wallet Option and other Digital Transactions New briefs from 5/23/19

TriMet, the transit agency for the Portland, Ore., region, said transit riders can now use its Hop Fastpass card in Apple Wallet and use their iPhones and Apple Watches to pay for fares on TriMet, C-TRAN, and Portland Streetcar lines. TriMet said Hop is the first transit fare to launch …

Read More »

Demand for Dual-Interface Cards Contributes To Big U.S. Growth at CPI Card Group

Boosted in part by growing card-issuer demand for chip cards that support both contact and contactless payments, card manufacturer CPI Card Group Inc. on Thursday reported a 32% first-quarter increase in sales of U.S. credit and debit cards. Littleton, Colo.-based CPI didn’t specify how much dual-interface cards, which can handle …

Read More »

Apriva Adds viv Support and other Digital Transactions News briefs from 4/22/19

Apriva LLC, a payments provider for unattended retail, said its network will support the viv mobile-payments app from Vagabond, allowing college students to use virtual campus cards for vending-machine purchases. In related news, Apriva said it will support mobile payments for AveriGo LLC, a software provider for the vending and …

Read More »

First Data in Joint Venture To Buy Ireland’s Payzone and other Digital Transactions News Briefs from 4/19/19

Allied Irish Banks p.l.c. and processor First Data Corp. formed a joint venture to acquire a 96% stake in Payzone, operator of Ireland’s largest retail payment network, for about €100 million ($112.5 million) including debt. AIB will own 75% of the joint venture and First Data 25%, according to The Irish …

Read More »

eBay Adds PayPal to Payments Platform and other Digital Transactions News briefs from 4/10/19

EBay Inc. announced Monday that its managed-payments platform, introduced in September, has now added PayPal on top of Google Pay, Apple Pay, and credit, debit, and gift cards. A report Wednesday, however, indicates PayPal availability is limited. A startup called Obligo said it is enabling renters to make so-called move-in …

Read More »
Digital Transactions