News

November, 2019

• 12 November

  Xoom Turns to Euronet’s Ria And Walmart to Enable Cash Transfers in the United States

  

  As peer-to-peer payments services like Cash App, Venmo, and Zelle grow in popularity in the United States, some observers fret that underserved populations are being left behind. PayPal Holdings Inc.’s Xoom money-transfer service said Tuesday it’s attacking that issue in a collaboration with Walmart Inc. and Euronet Worldwide Inc.’s Ria remittance …
• 12 November

  Big Retailers Anticipate FedNow Will Bring Competition to Payments

  

  A retail trade association as well as Target Corp. have endorsed the Federal Reserve’s planned FedNow real-time gross settlement service. In a letter posted last week on the official FedNow comment site, the Washington, D.C.-based Retail Industry Leaders Association said “over the past decades RILA has seen competition and innovation …
• 12 November

  USAT Boasts 25% Revenue Increase and other Digital Transactions News briefs from 11/12/19

  

  Unattended-payments specialist USA Technologies Inc. held its first quarterly earnings call in more than a year following the resolution of accounting issues. In it, USAT reported first quarter fiscal 2020 revenue of $42.1 million, a 25.7% increase from $33.5 million a year ago. Its net loss for the quarter was $12.8 million, …
• 11 November

  U.S. Holiday Sales Could Top $1 Trillion, With Mobile Payments Growing 32%

  

  Research firm eMarketer Inc. forecasted that 2019 U.S. holiday sales will surpass $1 trillion in value for the first time. Cyber Monday, the Monday following Thanksgiving, is expected to be the biggest online shopping day and could approach $10 billion in sales. With Thanksgiving falling on the last Thursday of …
• 11 November

  COMMENTARY: For the Sake of Payments Innovation, Deposit Insurance Must Enter the 21st Century

  

  Thanks to an influx of technological advancements, individuals now have more choices than ever to save and manage their money. But ensuring that financial tools are best serving consumers takes cooperation among regulators, policymakers, and the private sector. Recently, Federal Deposit Insurance Corp. Chairman Jelena McWilliams said the agency will …
• 11 November

  USAT Balks at Investor Move and other Digital Transactions News briefs from 11/11/19

  

  USA Technologies Inc. said a solicitation from Hudson Executive Capital LP, the unattended payments provider’s largest shareholder, to call a special shareholder meeting is invalid under the company’s bylaws. HEC wants to take control of USA Technologies’ board of directors with its own slate of director nominees.The Singles Day shopping event on …
• 8 November

  In a New Marketing Push, Green Dot Enlists Ellen DeGeneres

  

  Prepaid-program manager Green Dot Corp. will launch a marketing campaign with talk-show host and comedian Ellen DeGeneres. DeGeneres’s celebrity will be used to promote Green Dot Bank, Steve Streit, Green Dot founder and chief executive, said during a conference call with analysts Thursday. DeGeneres is host of the popular TV …
• 8 November

  COMMENTARY: AP And Treasury Need To Work Better Together. Here’s How

  

  Finance departments contain many functions that don’t always work together as well as they should. That’s especially true of Accounts Payable and Treasury. You’d think they’d work more effectively together as teams that both control the flow of funds for an organization, but in my experience, that’s rare. That lack …
• 8 November

  Final Arguments Heard in MDL 1720 Interchange Suit and other Digital Transactions News briefs from 11/8/19

  

  U.S. District Judge Margo K. Brodie heard final arguments from lawyers Thursday on the fairness of a proposed settlement in the 14-year-old MDL 1720 credit card interchange case but, as attorneys involved in the case said was probable, did not make an immediate determination from the bench. Brodie in January gave preliminary …
• 7 November

  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 …