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- Citing the recent huge data breach at credit-reporting agency Equifax Inc., the National Retail Federation and other trade groups in a letter to Congressional leaders said any new federal law governing data-breach notifications should apply to all industries that handle consumer data. The groups want a uniform federal standard to replace the existing patchwork of state data-breach notification laws.
- As Hurricane Irma approached, consumer spending in the Miami-Fort Lauderdale-West Palm Beach areas spiked, then plunged more than 57% last weekend as the massive storm slammed Florida, according to First Data Corp. statistics supplied to Digital Transactions News.
- First Data Corp. said the secondary stock offering of 85 million common shares of its stock by an affiliate of majority shareholder Kohlberg Kravis Roberts & Co. L.P. (KKR) it announced Monday will be priced at $17.75 per share. The offering is expected to close Sept. 18; underwriters have an option to buy up 12.75 million more shares.
- Private-equity firm Waud Capital Partners and merchant-acquiring executive Andrew Rueff, formerly of TransFirst Holdings Inc., teamed up to form Sphere Payments LLC, which in turn invested in payment-security software developer TrustCommerce.
- Fashion magazine Marie Claire said it will open a temporary pop-up shop Sept. 23 in Manhattan’s trendy SoHo neighborhood that will feature innovations in fashion, beauty, entertainment, technology and wellness, including Internet of Things technology from Mastercard Inc.
- Edge Mobile Payments LLC announced a revised feature set for its Edge Card that stores multiple payment cards.
- Payment card manufacturer CPI Card Group Inc. released a white paper examining the growth of metal payment cards and how financial institutions can create successful metal card programs.
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