Digital Transactions Authoritative, insightful and timely information for payments professionals
JPMorgan Chase Bank and its merchant-acquiring affiliate Paymentech have filed a breach-of-contract suit against restaurant operator and Paymentech merchant Landry’s Inc. seeking to recover $20 million in fines from Visa Inc. and Mastercard Inc. stemming from a 2014-15 data breach at dozens of Landry’s properties. The bank and processor, collectively called …
May, 2018
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25 May
VeriFone’s Bid To Go Private Progresses and other Digital Transactions News briefs from 5/25/18
Point-of-sale terminal maker Verifone Systems Inc. said it talked to “approximately” 42 companies during its go-shop period, which expired at 11:59 p.m. Thursday. None of the companies submitted a bid. As previously announced, publicly held Verifone is set to be acquired during the third quarter by affiliates of an investor …
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24 May
An iPayment Tie-in With Aliant Will Harness More ISO Horsepower for Crypto Acceptance
The same force that decades ago hit the streets and made credit and debit card acceptance nearly universal is revving up in a nascent effort to do the same for cryptocurrency. Aliant Payment Systems, a Fort Lauderdale, Fla.-based independent sales organization that has been marketing Bitcoin, Ether, and Litecoin acceptance …
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24 May
Time’s Up: What Will Be the Impact of Europe’s GDPR on U.S. Payments Companies?
Procrastination is no longer an option. Time to comply with the massive General Data Protection Regulation for businesses that collect data about European Union consumers has run out. And with the regulation going into effect Friday, many U.S. payments companies have found they, too, have had to change their data-collection …
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24 May
Adyen Prepares for Stock Offering and other Digital Transactions News briefs from 5/24/18
Representatives of large retailers including Walmart Inc. and Home Depot Inc. met with federal regulators this week to voice their concerns about a common buy button for e-commerce under development by the major card networks, The Wall Street Journal reported. The retailers’ main concern reportedly is how a buy button …
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23 May
Mitek Systems Buys France’s A2iA To Bolster Its Presence in Mobile Imaging
Mitek Systems Inc. announced Wednesday that it acquired Paris-based Artificial Intelligence and Image Analysis (A2iA), a developer of text-recognition and imaging software, for €42.5 million ($49.8 million) in cash and stock. The move bolsters San Diego-based Mitek’s already strong position in the remote deposit capture market and gives it access …
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23 May
First Data Buys Big Student-Loan Servicer’s Technology Platform
Payment card processor First Data Corp. is getting into student-loan processing with its acquisition of Navient Corp.’s technology platform. Terms of the deal announced Wednesday were not revealed. An undisclosed number of Navient employees will become First Data employees, and Jeff Whorley, who has been group president of asset management …
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23 May
Kabbage’s Entry Into Payments May Be a Logical Next Step, But Also Likely a Costly One
Online lender Kabbage Inc.’s ambition to enter payment processing by the end of the year, reported this week by Reuters, is a logical extension of their current platform, but one clouded by a host of uncertainties and rife with potential missteps, according to experts contacted by Digital Transactions News. Nine-year-old …
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23 May
USA Technologies’ $60 Million Stock Gain and other Digital Transactions News briefs from 5/23/18
Shares of processor EVO Payments Inc. began trading on the Nasdaq market Wednesday at an initial price of $16. The company put 14 million shares out to market, for expected gross proceeds of $224 million. In early trading Wednesday the stock was at $19.60, a 22.5% increase from its opening value. EVO …
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22 May
ShopKeep Launching Android Version and other Digital Transactions News from 5/22/18
Tablet-based point-of-sale provider ShopKeep Inc. announced it is introducing an Android version of its ShopKeep Register app, which up to now has been available only for Apple Inc.’s iOS operating system. The app will be available first on Clover devices from First Data Corp., which launched it for Clover Mini earlier …