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- Hamburger chain The Wendy’s Co. announced a $50 million settlement of class-action lawsuits filed against it after a data breach that began in 2015. The 7,500 bank and credit-union plaintiffs alleged the breach was caused by malware that affected point-of-sale systems at more than 1,000 franchised Wendy’s locations. Some 18 million payment cards were compromised in the breach, according to a filing in U.S. District Court in Pittsburgh cited by Reuters. Wendy’s says it expects to pay $27.5 million after insurance payments. The settlement needs court approval. The financial institutions alleged Wendy’s failed to protect customers’ payment card information and failed to give notice that card data had been compromised.
- First Data Corp. said it is working with the Girl Scouts of Greater Atlanta Council to provide Clover mobile point-of-sale devices to more than 400 Girl Scout troops to accept payments. The scouts are in the midst of selling their namesake cookies.
- ATM deployer Payment Alliance International said it is collaborating with the U.S. Secret Service on an effort to thwart man-in-the-middle attacks on ATMs.
- CyberGuard Compliance said it now provides qualified security assessor services to merchants.
- Vista Equity Partners completed its $1.9 billion acquisition of Mindbody Inc., a wellness and health platform that also provides payments services.
- Thirty-six percent of U.S. shoppers abandon an online purchase because the retailer does not have a “decent” returns policy and 31% do so because the checkout process takes too long, finds a survey of more than 1,000 consumers from Klarna, an installment-payments provider.
- The Electronic Transactions Association announced the first companies to participate in its Self-Regulation Program.
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