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- MoneyGram International Inc. reported second-quarter revenue of $410 million, flat with 2016’s second quarter on a constant-currency basis. Digital money-transfer revenue increased 10% and now accounts for 15% of total money-transfer revenue. Net income doubled to $6.2 million. In May, MoneyGram shareholders approved a merger of MoneyGram with Ant Financial Services Group, parent company of Alibaba.
- Integrated Clark Monroe, owner of the Hyatt Centric The Loop Chicago hotel, said it has removed suspicious front-desk software that may have compromised data from payment cards used at check-in by guests who stayed at the hotel from Sept. 27 to April 28.
- The Russian government wants to reduce its reliance on U.S.-based payments systems, according to an article on SputnikNews.com, the English-version of the RIA news agency’s Web site. Citing recent U.S. sanctions, a Russian foreign ministry official said it wants to reduce “some dependence on [the] U.S. payment system, the dollar as payment currency and so on.”
- Net Element Inc. said its PayOnline unit, which operates overseas, has begun processing e-commerce transactions in the United States.
- Bitcoin is trading at all-time highs, exceeding $3,400 per coin in the wake of last week’s hard fork, which gave birth to an offshoot currency, Bitcoin Cash.
- Larry Stone, former chief executive of Card Payment Systems, now part of First Data Corp., and a former principal and director at Mercury Payment Systems, now owned by Vantiv Inc., is one of five new members of the board of directors of InstaMed, a health-care payments network.
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