Merchant

Through its acquisitions, VeriFone Systems Inc. soon could become the largest terminal maker in the world. On Nov. 17, the San Jose, Calif.-based company announced an all-stock purchase of its rival Hypercom Corp. valued at $485 million, including net debt VeriFone would assume. This is a step up from the $280 million hostile bid VeriFone made public in September.

Sales agents, and some ISOs, that consider their no-risk status as an exemption from being on the hook for merchant charge-backs, fines, fees, rejected automated clearinghouse transactions and other merchant losses may be surprised to find that many agent agreement often find ways to hold some agents liable for some merchant losses.

Discover Financial Services is still struggling to reach “the last mile” of full U.S. merchant acceptance as many retail locations fall short in promoting the brand at the point of sale, Roger Hochschild, Discover president and chief operating officer, told analysts on Nov. 16.

VeriFone Systems Inc. is getting a marketing boost for its iPhone payment card reader through a new partnership with the Atlanta processor Elavon.

Through its acquisitions, VeriFone Systems Inc. soon could become the largest terminal maker in the world.

PayPal Inc.’s Oct. 26 announcement that its transactions would be integrated into VeriFone Systems Inc.’s mobile point-of-sale product after Jan. 1 is a clear sign PayPal wants to move beyond e-commerce transactions, observers say (see story).

With fewer borrowers delinquent on one or more accounts, U.S. consumers' credit risk level dropped in the third quarter ended Sept. 30 to a mark not seen since the first quarter of 2009, according to TransUnion's Credit Risk Index (CRI) released Wednesday.

VeriFone Systems Inc. and Hypercom Corp. have set aside their differences, announcing this morning an agreement in which VeriFone will acquire the competing point-of-sale terminal maker in an all-stock transaction valued at $485 million, including net debt VeriFone would assume.

A federal district court in Chicago shut down an international robocall ring that allegedly conned consumers out of $995 each with false promises to reduce their credit card interest rates.

A New Jersey lawyer and his Pennsylvania-based collection agencies must cancel nearly $8 million in alleged debt they tried to collect from more than 1,900 West Virginia residents, West Virginia Attorney General Darrell McGraw's office announced Tuesday.