Merchant

Hypercom Corp. this morning announced that its board of directors has unanimously rejected an unsolicited, nonbinding proposal from VeriFone Systems Inc. in which VeriFone in a Sept. 27 letter proposed to acquire all of Hypercom’s outstanding common shares for $5.25 per share in cash.

VeriFone Systems Inc. announced Wednesday an unsolicited bid to buy rival Hypercom Corp. at $5.25 per share, which it described in a letter to Hypercom's board.

VeriFone Systems Inc. on Sept. 29 announced it has sent a letter to the board of Hypercom Corp. with a proposal to acquire outstanding shares of of the payment terminal company for $5.25 per share. VeriFone plans to conduct a conference call to discuss its proposal with its shareholders today 2p.m. PDT.

Online payment gateway GoToBilling Inc. has a new reseller program that it hopes will attract more independent sales organizations and, subsequently, more merchants, the Bozeman, Mont.-based company says.

Sales representatives for TransFirst will sell merchant services to business customers of MainSource Bank, the Hauppauge, N.Y.-based merchant-services company announced Sept. 28.

U.S. credit card delinquencies fell in August as the six top issuers reported improved numbers, according to Moody's Investors Service.

New York regulators filed felony criminal charges against the owner of a collection agency that targeted military personnel and harassed active military members and their families.

U.S. law-enforcement officials are investigating a security breach involving “a limited number” of PIN-debit terminals deployed at Aldi grocery stores, a spokesperson for the Batavia, Ill.-based company tells PaymentsSource. Aldi stores accept only PIN-debit transactions and cash for payment at the point of sale.

Pivotal Payments’ plan to buy 33,000 Hypercom Corp. point-of-sale terminals for distribution to Canadian merchants is the independent sales organization’s largest terminal purchase to date, Frank LoSchiavo, Pivotal senior vice president of sales, tells PaymentsSource.

The passage of the financial reform bill has introduced quite possibly the most sweeping reform of financial regulations since the Great Depression.