• Noodles & Co. reported that malware led to the compromise of an undisclosed number of customers’ credit and debit cards between Jan. 31 and June 2 at 407 locations in 27 states and the District of Columbia representing 80% of its 507 total stores; the fast-casual restaurant chain began …
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After Deciding “To Capitulate” to Visa, Kroger Sues the Network Over EMV Transaction Routing
The Kroger Co. on Monday sued Visa Inc. over the network’s alleged efforts to force the nation’s leading grocery-store chain to route EMV chip debit card transactions over Visa’s network by having customers sign for purchases rather than enter PINs. Kroger, the largest retailer after Wal-Mart Stores Inc., according to …
Read More »Payments Stocks Flattened Again as Brexit Downdraft Grows
A second day of market turmoil in the wake of the United Kingdom’s “Brexit” vote to leave the European Union once again took a big bite out of stocks of U.S.-based payments companies with large operations in the U.K. and Europe. For example, on a day when the major market indexes …
Read More »North American Bancard EMV Tip Adjust and other Digital Transactions News briefs
• Prepaid card provider Green Dot Corp. appointed William I. Jacobs, who joined its board of directors in April, as board chairman. The chairman spot had been held by CEO Steve Streit, but the company, which recently had a proxy fight, is separating the roles. Jacobs currently is chairman of …
Read More »Durbin Amendment Repeal Proposal Flare Up and other Digital Transactions News briefs
• The Merchants Payments Coalition, a Washington, D.C., lobbying group, released a new statement decrying what it calls a “poison pill” provision embedded in a bill proposed earlier this month by U.S. Rep. Jeb Hensarling, R-Texas, to reform the 2010 Dodd Frank Act. The provision would repeal the debit-interchange curbs …
Read More »Canada’s MintChip Digital Currency Goes Live at Toronto Stores and Restaurants
MintChip, a digital cash replacement, went live Tuesday with a handful of retailers and restaurants in a trendy Toronto neighborhood. Canadians anywhere also can use MintChip for peer-to-peer payments. A loyalty and payment-services startup called nanoPay Corp. bought MintChip, which was developed by the Royal Canadian Mint, early this year. …
Read More »ATM Skimming Hits Just a Few Machines, Finds National ATM Council Survey
There may be less ATM skimming going on than is commonly thought. Most ATMs placed in retail locations—93%—have not experienced a skimming incident, finds a survey from the National ATM Council Inc., which represents independent ATM operators. Skimming happens when a consumer inserts a credit or debit card into what …
Read More »Elavon Boosts Apple Pay Support in Canada and other Digital Transactions News briefs
• Costco Wholesale Corp., along with Citigroup Inc. and Visa Inc., officially announced the new Citi-issued Costco Anywhere Visa consumer and business credit cards to replace Costco’s American Express Co. cobranded card; the new card gives 4% cash back on gas purchases, 3% back on restaurant and eligible travel purchases, …
Read More »Costco’s Switch From American Express to Visa and Citi Set for This Weekend
One of the biggest changeovers in the history of general-purpose credit cards is set for this weekend when warehouse retailer Costco Wholesale Corp. stops accepting American Express Co. cards and begins taking Visa Inc. cards. In an email to its customer-members this week, Issaquah, Wash.-based Costco said to “mark your …
Read More »Home Depot Antitrust Suit Challenges Networks over Chip Cards and Visa’s FANF
The Home Depot Inc.’s new lawsuit against Visa Inc. and MasterCard Inc. makes many of the same antitrust allegations that other merchants have lodged against the big networks in recent years. The suit, however, is notable for asking the court to quash Visa’s Fixed Acquirer Network Fee (FANF) and, like …
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