Digital Transactions Authoritative, insightful and timely information for payments professionals
• Fidelity National Information Services Inc. (FIS) announced it is supplying its FIS Cardless Cash ATM service to cash dispensers operated by Payment Alliance International. Ultimately, the service will include 70,000 ATMs in the PAI ATM network.
• The United Kingdom’s Competition Appeal Tribunal ruled that Mastercard Inc. must pay approximately $91 million in damages to U.K. supermarket chain J Sainsbury after concluding that Mastercard’s interchange rates were higher than they should have been under U.K. and European Union competition laws. Mastercard said in a statement that, “While we are disappointed to see liability as part of the finding, we note that in awarding a limited portion of the claimed damages, the court concluded that Sainsbury’s did not pass through interchange costs to consumers in the form of higher prices.”
• Swedish online-payments provider Klarna, which began operating in the United States last year, signed British fashion site Lyst as its latest client, according to Reuters.
• Employees at independent sales organization Gravity Payments chipped in to buy chief executive Dan Price a new Tesla automobile after Price prevailed in a lawsuit brought by his brother, Lucas Price, alleging Dan Price had overcompensated himself and misused company funds. Dan Price gained widespread notice last year when he moved to raise all employees’ salaries to $70,000 annually and vowed to cut his own pay to that level.
• The Clearing House Payments Co. LLC, a payments company owned by major banks that is helping spearhead the development of faster payments, has launched “eighteen53 Blog” to comment on current issues and developments.
• Payments company Clearent LLC named Chris Knibb, a former Express Scripts executive, as its chief financial officer.
• The Electronic Funds Transfer Association issued a white paper dubbed “User Authentication for Payments” that is the first of a three-part series.
