- Quick-service restaurant chain The Krystal Co., which has 342 locations in 10 Southeastern states, said it is in the early stages of “actively investigating a security incident” that may have compromised credit and debit card numbers used in payments at some of its stores from July through September.
- A. Wayne Johnson, a senior official in the U.S. Department of Education and a former First Data Corp. and Visa Inc. executive, abruptly resigned Thursday after calling on the government to wipe out most of the nation’s $1.6 trillion in student debt, Bloomberg reported. Johnson, a Republican, is seeking a Senate seat in Georgia.
- Square Inc. said investors can now use its Cash App to buy stock with as little as $1.
- The Western Union Co. said it has become the first money-transfer provider to offer real-time cross-border remittances via India’s Unified Payments Interface, which allows Western Union customers globally to send money into bank accounts in India by using the receiver’s UPI ID instead of providing bank-account and routing details.
- Credit card issuer Capital One Financial Corp. reported $790 million in net interchange fee income for the third quarter, up 6% from $743 million a year earlier.
- VersaPay Corp., a provider of cloud-based invoice presentment and payment systems, said a global manufacturer and distributor of beverages and snack foods picked VersaPay’s ARC product to automate its invoice-to-cash process. VersaPay did not reveal the client’s identity.
- American Express Co. announced it is working with cross-border credit-reporting agency Nova Credit to let applicants use international credit reports when applying for an AmEx personal card in the United States.
The Covid-19 pandemic has taken a fearful toll on payments processing, and on Thursday, in …