Digital Transactions Authoritative, insightful and timely information for payments professionals
• Financial-institution processor Fiserv Inc. said its payments segment posted adjusted revenues of $701 million in the third quarter, up 9% from $643 million a year earlier. Operating income rose 11.5% to $242 million.
• Wal-Mart Stores Inc. announced service changes in the U.S. and Mexico, and lower prices, involving its wire-transfer providers MoneyGram International Inc. and Euronet Worldwide Inc.’s Ria subsidiary.
• A Pennsylvania appeals court upheld a lower court’s decision that the owners of 16 McDonald’s Corp. restaurants violated state law by paying hourly employees strictly with fee-laden payroll cards.
• Online home-furnishings retailer Wayfair Inc. has adopted an installment-payment option from startup Affirm Inc. The option, which lets customers make monthly payments, complements Wayfair’s existing private-label credit program.
• Payments provider Cayan announced a partnership with RedIron Technologies Inc. that enables integration of RedIron’s retail technology into Cayan’s Genius Platform for point-of-sale devices.
• Processor WEX Inc. announced a 10-year extension of its North American fleet card agreement with Exxon Mobil Corp. and Imperial Oil.
• Processor Total System Services Inc. (TSYS) renewed its card-issuing contract with The Rabobank Group, which operates in 40 countries.
• Merchant processor Global Payments Inc. signed referral agreements with a number of Better Business Bureaus serving more than 15,000 businesses across Canada.
