• ATM network operator Cardtronics plc, formerly Cardtronics Inc., completed its plan to re-domicile in the United Kingdom following approval of the plan by shareholders June 28. Cardtronics’ North American headquarters will remain in Houston, while its European headquarters will be in London. The company’s stock will continue to trade …
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An Appeals Court’s Decision Puts Interchange in Play, With an Unpredictable Outcome
The sweeping 4-year-old settlement between card networks and banks on the one hand and merchants on the other, which the U.S. Court of Appeals for the Second Circuit overturned Thursday, covered a lot of ground. But the case the agreement grew out of had as its central focus credit card …
Read More »Global Payments To Relocate and other Digital Transactions News briefs
• In a huge legal development for the payment card industry, the Second U.S. Circuit Court of Appeals today overturned a lower court’s 2013 approval of a $7.25 billion settlement of a merchant class-action lawsuit accusing Visa, MasterCard, and some banks of antitrust violations in setting credit card interchange. The appellate …
Read More »Global Payments To Relocate and other Digital Transactions News briefs
• In a huge legal development for the payment card industry, the Second U.S. Circuit Court of Appeals today overturned a lower court’s 2013 approval of a $7.25 billion settlement of a merchant class-action lawsuit accusing Visa, MasterCard, and some banks of antitrust violations in setting credit card interchange. The appellate …
Read More »Hard Rock Hotel & Casino Finds Malware and other Digital Transactions News briefs
• 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 …
Read More »SWIFT Attracts 73 Banks Worldwide for Cross-Border Payments Initiative As Pilot Unfolds
The U.S. rollout of EMV is just one chapter—albeit a major one—in an unfolding international payments story, but another one is taking the stage that could have important implications both for faster payments and cross-border transactions. SWIFT, the Belgium-based international financial-messaging organization, announced on Tuesday that 73 financial institutions worldwide …
Read More »As Signature EMV Draws Merchants’ Ire, Industry Opinion May Be on Their Side
Merchants, in their argument for PIN rather than signature authentication for EMV chip card transactions, may have industry opinion on their side. According to an informal poll conducted this week by Digital Transactions News, two-thirds of readers agree that the merchants suing the card networks over the issue have a …
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 »Banks Cash in on Visa Europe Deal and other Digital Transactions News briefs
• Wal-Mart Stores Inc. launched Walmart Pay in 11 states: Virginia, North Carolina, South Carolina, Nebraska, South Dakota, North Dakota, Iowa, Tennessee, Kentucky, Michigan, and Indiana. • Citing volatile exchange rates for the British pound, some money-transfer companies are temporarily suspending pound transfers until after results of today’s “Brexit” vote on …
Read More »COMMENTARY: Helping Banks Deliver a U.S. Real-Time Payments Scheme
Real-time payments have existed in various models for a long time. In fact, they’re probably most familiar to consumers as card payments, something that has been embedded in consumer culture for decades. However, in the United States, the development of real-time payments has lagged behind some areas of the world, a …
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