Tuesday , December 10, 2019

USAA Wins $200 Million RDC Lawsuit and other Digital Transactions News briefs from 11/7/19

  • A U.S. District Court jury in Marshall, Texas, awarded USAA $200 million in damages after finding that Wells Fargo & Co. infringed on two patents held by USAA related to mobile check deposit. USAA filed the suit in June 2018. USAA in August 2018 filed a separate suit in the same court against Wells Fargo related to other patents covering mobile deposit. That case is set for trial in January.
  • Business-accounting software provider FreshBooks said it offers same-day deposits for small-business owners that have a JPMorgan Chase & Co. bank account. The turnaround time with the service for most deposits is 24 hours and deposits are made via WePay, a Chase payments unit.
  • Merchant acquirer EVO Payments Inc. reported processing 946.4 million transactions in the third quarter, up nearly 18% from 805.1 million a year earlier. North American transactions grew 14% to 279.1 million while European transactions increased 19% to 667.3 million.
  • ACI Worldwide Inc. said Philip Heasley, its president and chief executive and board member, will retire Dec. 31 after 15 years at the company. An executive-search firm has been hired to find a replacement. ACI Worldwide also reported $355 million in third-quarter revenue, a 45% increase from $246 million a year ago.
  • Visa Inc. announced plans for a new headquarters office in San Francisco and plans to redo its Foster City, Calif., campus. Visa anticipates closing a Palo Alto, Calif., office when the new offices open, which is scheduled for early 2024.
  • Installment-payments provider Klarna said Hibbett Sporting Goods Inc. now offers the payment option on its e-commerce site.
  • Fraud-prevention company Kount Inc. said GNC Holdings will use Kount for its online transactions.
  • The Pulse electronic funds transfer network incorporated the Falcon platform from FICO to provide new fraud-detection and blocking services to the more than 4,100 debit card issuers in the network.
  • Members of U.S.-based Women’s Network in Electronic Transactions and the European Women Payments Network will have access to each organization’s workshops and networking events through a collaboration. Members of one group will be able to join the other at a discounted rate.
  • Mazooma, a payments provider to the gaming industry, appointed Korry Dickout director of marketing. Dickout’s payments experience includes roles at Global Payments, TouchBistro, and, most recently, Ceridian.

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