While playing defense in a proxy war with the company’s largest shareholder, vending-machine payments provider USA Technologies Inc.’s top executives are looking for growth through software-based services, and expansion into adjacent markets and other countries, particularly Japan. “Our go-to-market strategy is to advance our sales efforts as an integrated software …
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Debit Routing Uncertainty Down Under and other Digital Transactions News briefs from 2/5/20
Australian financial regulators might intervene to stop banks from automatically routing contactless debit card payments to the Visa and Mastercard networks and instead give merchants the option of using the country’s EFTPOS network, Reuters reported.RevSpring Financial Services, a provider of collections-support services for health-care firms and other companies, debuted eVokePay, a payment …
Read More »Super Processor Picks TAS USA and other Digital Transactions News briefs from 12/9/19
Payments provider Super Processor selected a payments platform from TAS USA Inc. to manage merchant onboarding, merchant accounts, and transaction processing for both in-store and e-commerce transactions.Hudson Executive Capital LP, an investment firm that has been embroiled in a fight for control of vending-machine payments technology provider USA Technologies Inc., filed a proxy …
Read More »Church’s Chicken Investigating Possible Breach and other Digital Transactions News briefs from 11/22/19
The Church’s Chicken restaurant chain said it is investigating a possible breach of credit and debit card data at about 165 company-owned locations in 11 states. The company, which said it is working with federal authorities, has hired a cybersecurity firm and has notified the card networks and credit-reporting agencies.Recurring household bills …
Read More »Checkers Contends With POS Malware and other Digital Transactions New briefs from 11/18/19
Checkers Drive-in Restaurants Inc., which in May said malware had affected certain of its Checkers and Rally’s locations, said it is aware the malware had affected one more Checkers and Rally’s location and also that the malware had been re-installed at “several” locations the company had previously identified as affected. The company …
Read More »Bill Could Restrain Tech Firms’ Financial Services Projects and other Digital Transactions New briefs from 11/15/19
U.S. Rep. Chuy Garcia (D-Ill.) planned this week to introduce bills that would bar tech firms from developing their own cryptocurrencies and make it more difficult for non-financial firms to obtain charters for industrial-loan corporations, a form of a bank, according to Politico. Garcia’s office did not immediately respond to a request …
Read More »UPDATED: Herbert Out as CEO of USA Technologies; Interim Leader Appointed
With a proxy fight looming, vending-machine payments provider USA Technologies Inc. announced late Thursday that chief executive Stephen P. Herbert has resigned. Herbert, a former Pepsi-Cola executive, spent 23 years with Malvern, Pa.-based USAT, including eight as CEO. USAT’s board of directors named one of its members, Donald W. Layden …
Read More »UPDATED: Leading Investor Decries ‘Value-Destructive Conduct’ at USA Technologies, Pushes for Change
The honeymoon is over between vending-machine payments provider USA Technologies Inc. and its largest investor, which on Monday accused the company’s board of directors of “value-destructive conduct” and blasted its top brass for “lack of management qualifications or accountability.” The surly announcement by New York City-based hedge fund Hudson Executive …
Read More »USA Technologies Finally Files Its Overdue Financial Reports
Unattended-payments provider USA Technologies Inc. announced late Wednesday that it has filed overdue financial reports for its fiscal years 2019 and 2018 ended June 30, as well as several late quarterly reports. The company also restated financial data for some periods dating back to fiscal 2015. The new filings and …
Read More »USA Technologies Seeks Another Deadline Extension for Filing Late Reports; Shares Plunge
Already nearly a year late in filing the first of several overdue financial reports and with its stock facing delisting, vending machine payments provider USA Technologies Inc. on Wednesday reported it has asked The Nasdaq Stock Market LLC for yet another extension to file required documents. The delay request is …
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