A group of California small businesses won a victory Wednesday when a three-judge panel of a federal appellate court upheld their challenge to California’s ban on credit card surcharges, but a key aspect of the ruling applies only to the merchants who sued the state. Still, the ruling represents at …
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The automated clearing house network’s nearly uninterrupted growth tear took a breather in the third quarter, the period leading up to the introduction of same-day processing for ACH debit transactions. ACH transactions totaled 5.3 billion in the July through September quarter, according to NACHA, the Herndon, Va.-based governing body for …
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Unattended-payments specialist USA Technologies Inc. announced that vending-machine operator Jackson Brothers of the South is upgrading an additional 750 machines to accept cashless payments. When completed, the expansion will mean all 1,000 Jackson Brother machines will accept cashless transactions such as Android Pay and Apple Pay in addition to traditional …
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New mobile-phone capability, coupled with physical stores’ response to the encroachment of e-commerce, will help drive the volume of digital coupons in the next few years, according to a new report. Worldwide redemptions of coupons via mobile phones and online will grow at an average annual rate of 14.1% through …
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Shares of publicly traded payments companies lost some strength as 2017 drew to a close, but for the year as a whole they handily outperformed three widely watched market indexes during one of Wall Street’s best years in recent memory. Twenty-nine electronic transaction processor stocks tracked by Chicago-based investment firm …
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Payments provider Clearent LLC announced its acquisition of SPOT Business Systems LLC, an independent software vendor serving the dry-cleaning industry. Terms were not disclosed. Shares of MoneyGram International Inc. dived about 9% Wednesday morning in the wake of Tuesday’s news that China’s Ant Financial Services Group would not be acquiring …
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Unable to get approval from federal authorities, wire-transfer provider MoneyGram International Inc. and China-based Ant Financial Services Group disclosed Tuesday that they have terminated their merger agreement, almost a year after it was first proposed. In a joint news release, the firms said they’re bailing on Ant’s plan to acquire …
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A startup called Prepaid2Cash announced the availability of its app for both iOS and Android. The app allows holders of network-branded prepaid cards to move money from the card to a bank account within three days. The service costs 7.5% plus $1.50. Payments provider Pinpoint Intelligence said it now serves …
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Kansas-based ATM operator Prineta LLC said it has acquired 20 ATMs in Corpus Christi and Coastal South Texas. The seller’s identity was not immediately available. Prineta operates more than 1,000 ATMs nationwide, according to a spokesman. This is the company’s third ATM acquisition in 2017. Forever 21 Inc. reported encryption …
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Merchant processor EVO Payments International said it has an agreement with Madrid-based Liberbank SA to buy Liberbank’s merchant-acquiring business in Spain; terms of the deal, which is expected to close by March 31, were not disclosed. Credit card delinquencies and chargeoffs have increased slightly over the past year, according to …
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