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August, 2018

• 15 August

  Change at Payment Alliance International As Three Top Execs, Including Two Cofounders, Exit

  

  Payment Alliance International, the Louisville, Ky.-based ATM operator, is in the midst of a strategic shift, one that has seen three top executives resign from the firm. John J. Leehy III, president and chief executive, Greg Sahrmann, executive vice president and chief operating officer, and Donna Embry, chief payments advisor, …
• 14 August

  Proposed Tariffs on Chinese Goods Draw More Opposition From the Payments Industry

  

  The escalating U.S.-China trade war is generating calls for a truce from the payments industry. Most recently, the ATM Industry Association announced its opposition to planned U.S. tariffs on Chinese goods, calling them a “threat to business.” ATMIA members are expected to testify at a tariff hearing next week in …
• 6 August

  Bitcoin Cash One Year Later: Cheaper Than Bitcoin, But Still Number 4 on the Hit Parade

  

  One year after the hard fork that created it, Bitcoin Cash is in some ways mimicking the digital currency it was spawned from. Bitcoin Cash’s price at $693 Monday morning has slid by about $1,000 in the past three months, according to CoinMarketCap.com. And it’s well under the $4,091 peak …
• 3 August

  On a Hot Streak, the ACH Network Has Racked up 5%-Plus Growth in 12 of the Last 14 Quarters

  

  The growth surge at the nation’s automated clearing house network shows no signs of slowing down. The payments system handled 5.68 billion transactions in the quarter ended June 30, a 6.2% increase year-over-year, according to numbers from Herndon, Va.-based NACHA, the network’s governing body. The network has now notched growth …

July, 2018

• 30 July

  Kroger’s Foods Co Lobs a Grenade at Visa in the Ongoing Guerrilla War Over Card-Acceptance Costs

  

  Citing acceptance costs, Foods Co, a California unit of leading supermarket chain The Kroger Co., says it will stop accepting Visa credit cards Aug. 14 at 26 stores. “Foods Co is discontinuing the acceptance of Visa credit cards to save on the high costs associated with the credit card company’s …
• 27 July

  ISOs Urged To Begin Thinking Beyond Pure Profit

  

  The independent sales organization business is one that has spawned multimillion-dollar fortunes for numerous entrepreneurs. But perhaps it’s time for the industry to begin thinking beyond pure profit, merchant-acquiring executives suggested Thursday. The executives participated in a panel dubbed “Payments Doing Good” at the MidWest Acquirers Association annual conference in …
• 26 July

  PayPal Looks to Cash in on P2P And Stresses It’s Shopping for More Acquisitions

  

  Person-to-person payments are hot these days, and PayPal Holdings Inc. has one of the hottest products in the market with its Venmo service. But as PayPal revealed Wednesday, Venmo can create some friction for its parent even as it vitally expands its payments business. PayPal reported $14.2 billion in payment …
• 23 July

  Cryptocurrency ‘Has Legs,” Payroc Says, So It’s Moving Toward a Merchant Acceptance Rollout Later This Year

  

  Issues like price volatility, pokey transaction times, and sheer reputational risk have left many processors and independent sales organizations on the sidelines when it comes to cryptocurrency acceptance. Many, but not all. The latest entrant, and the largest so far, in this nascent market is Payroc LLC, which later this …
• 10 July

  Following Its Big June IPO, Adyen Continues To Surge

  

  Does it pay to bet on payments? If the bet is on Adyen N.V., it pays handsomely so far. The Dutch processor and payments gateway is showing no signs of slowing down since its initial public offering nearly four weeks ago. The stock, which trades on the Euronext Amsterdam exchange, …
• 9 July

  Leadership Change in the Offing as VeriFone’s Buyout Approaches

  

  Former Pace plc chief executive Michael Pulli will replace Paul Galant as CEO of VeriFone Systems Inc. when the leading U.S.-based point-of-sale terminal manufacturer and payment services provider is acquired by private-equity firm Francisco Partners, VeriFone announced Monday. Galant, a former Citigroup Inc. senior executive who became VeriFone’s CEO in …