Digital Transactions Authoritative, insightful and timely information for payments professionals
A federal judge is scheduled to hear arguments Thursday on whether a proposed settlement worth up to $6.24 billion in damages to card-accepting merchants is fair. The hearing in U.S. District Court in Brooklyn, N.Y., is expected to draw a roomful of lawyers for defendants Visa Inc., Mastercard Inc. and …
November, 2019
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5 November
Investor Targets USAT and other Digital Transactions New briefs from 11/5/19
USA Technologies Inc. issued a statement opposing a move by Hudson Executive Capital LP, the vending-machine payments provider’s largest shareholder, to gain control of the company in the wake of long-running accounting problems that were recently resolved. Hudson’s plan includes the nomination of eight director candidates for election at the company’s next annual meeting. …
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4 November
Consumer Loyalty to Using Credit Cards May Be Swayed by Digital Alternatives
Digital wallets and other forms of digitized payments may be poised to take over the most-favored position for some consumers. Sixty-six percent of consumers, if offered rewards, discounts, and cash-back incentives similar to those offered by credit cards, would switch to alternative ways to pay, finds the 2019 edition of …
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4 November
In Its Latest Gambit, Samsung Pay Enlists Curve’s All-in-One Card App
Samsung Electronics Co. Ltd. has been seeking lately to differentiate its 4-year-old Samsung Pay mobile payments service, and on Monday came its latest gambit: an integration with Curve 1 LTD, a London-based startup that allows cardholders to consolidate all of their Mastercard and Visa cards into a single card or …
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4 November
Discover Contactless Cards Coming and other Digital Transactions News briefs from 11/4/19
Discover Financial Services said it will begin issuing contactless cards over the next several months, starting first this month with holders of Discover it and Discover More cards who need cards reissued or replaced. New cardholders will get contactless cards beginning in December.ACI Worldwide expanded its long-term relationship with ATM network operator …
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1 November
Western Union and MoneyGram Report Digital Growth, but Falling Revenues
The big wire-transfer providers The Western Union Co. and MoneyGram International Inc. continue to develop their digital services as their agent-based business models struggle in a fast-changing market against rising online players. The two firms on Thursday both reported declining revenues in the third quarter, but Western Union made money …
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1 November
Google To Buy Fitbit and other Digital Transactions News briefs from 11/1/19
Google Inc. agreed to acquire Fitbit Inc., producer of smart watches and the Fitbit Pay contactless-payment service, for approximately $2.1 billion. Fitbit has sold more than 100 million devices in its 12 years in business. Google, whose Google Pay mobile-payment service has been in the market since 2015, is part of Alphabet Inc. The …
October, 2019
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31 October
How Cash-Out Attacks Are Becoming the Next Big Worry for ATM Operators
Payments executives are starting to go public with concerns about a growing type of ATM fraud called the cash-out attack. Unlike the well-known, single-machine attack known as jackpotting, cash-out frauds allow criminals to gain access to multiple machines simultaneously at the network level. They then employ accomplices to visit these …
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31 October
With TSYS Now Under Its Wing, Global Payments Expands in Canada With Desjardins Acquisition
Total System Services Inc. (TSYS) officially became part of Global Payments Inc. only on Sept. 18, but the massive task of stitching two large payment processors together didn’t stop Global from buying yet another financial institution’s merchant portfolio. Global announced Thursday that it will acquire the entire 40,000-merchant file of …
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31 October
Cardtronics Experiences Revenue Increase and other Digital Transactions News briefs from 10/31/19
ATM network operator Cardtronics plc reported revenues of $351.5 million for the quarter ended Sept. 30, up 3% year-over-year. ATM operating revenues totaled $333.4 million, up 1%. The company reported agreements in the quarter to place more than 1,000 ATMs, as well as a renewal and expansion of its agreement with leading …