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- Apple Pay users have more than doubled over the past 12 months, Apple Inc. reported, without citing a specific number. Yearly transactions have increased 330%, and more than 5 million U.S. merchant locations will be accepting the mobile-payment service by the end of the year, the company said during an analyst call to discuss fiscal fourth-quarter earnings.
- Starbucks Corp. said 10% of its transactions came from its Mobile Order & Pay app. Currently, the app requires a Starbucks stored-value card, but, according to a SeekingAlpha.com transcript of Starbucks’ fiscal fourth-quarter earnings call, that may change. “You’re going to continue to see us leaning across this year and acquiring digital relationships, first of all, within Starbucks Rewards, but then via other means, including Mobile Order & Pay that doesn’t require a stored value card,” said executive vice president Matthew Ryan.
- MoneyGram International Inc. said it and China-based Ant Financial, which is attempting to buy MoneyGram for $1.2 billion, continue to work with the Committee on Foreign Investment in the United States and other regulators, and “remain focused on closing the transaction within the time periods permitted by the merger agreement.” MoneyGram reported net income of $7.7 million for the third quarter, a 23.8% decrease from $10.1 million a year earlier. Its revenue of $390.1 million, was a 4.4% decrease from $408.2 million.
- The Western Union Co. reported third-quarter revenue of $1.4 billion, a 1.4% increase from $1.38 billion a year ago. Net income of $235.6 million was an 8.6% increase from $216.9 million.
- The cyber threat is evolving faster than security teams can cope with it, warned a report from U.K.-based cybersecurity firm RedSeal. Teams grossly overestimate detection times and “lack of preparation is pervasive,” RedSeal says.
- Mastercard Inc. appointed Jeanne Tisinger senior advisor for cybersecurity. Tisinger comes to Mastercard from the Central Intelligence Agency, where she most recently was deputy director responsible for the agency’s physical and cybersecurity infrastructure in more than 100 countries.
- Square Inc. announced Anna Patterson has joined its board of directors. Patterson is founder and managing partner of Gradient Ventures, a Google-sponsored venture fund focused on artificial intelligence, and a vice president of engineering at Google.
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