POS and Retail

Hypercom Corp.’s board of directors on Sept. 30 rejected VeriFone Systems Inc.’s unsolicited $284 million bid to buy the Scottsdale, Ariz.-based point-of-sale terminal maker.

VeriFone Systems Inc.’s unsolicited bid to acquire rival Hypercom Corp. for $5.25 in cash for each Hypercom share is too low, and Hypercom should hold out for at least $6 per share if offered in cash, analysts say.

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. 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 six-month deadline extension for Canada’s merchants to convert to EMV chip-and-PIN technology points to certain technical difficulties some have encountered during the lengthy process, observers say.

The PCI Security Standards Council this fall plans to launch a website dedicated to small merchants, which have asked the council for help in understanding how data-security measures affect them.

Pivotal Payments, a merchant acquirer in Melville, N.Y., has agreed to purchase up to 33,000 payment terminals from Hypercom Corp.

The time to prepare for EMV and advanced encryption appears to have arrived.

The more than 350 independent sales organizations that work with National Processing Co. should anticipate work as usual once Fifth Third Processing Solutions LLC completes its acquisition of the Louisville, Ky.-based merchant processor.

ISOs and agents seldom question the importance of helping their merchants comply with the Payment Card Industry Data Security Standard.

Paul A. Rianda is an attorney who has provided legal advice to the bankcard industry for more than 15 years. His e-mail is paul@riandalaw.com.

High-end spenders who tightened their belts in 2009 are starting to loosen them up, as such consumers likely are behind an overall increase in credit card spending last month, suggests First Data Corp.’s August SpendTrend payment card transaction analysis of all store sales activity that First Data processes.

Citigroup Inc. has appointed Jud Linville as CEO of its Citi Cards credit card unit, replacing Paul Galant, who was named Citi’s CEO of global enterprise payments. Linville previously was president and CEO of American Express Co.’s U.S. Consumer Services operations.

Merchants using VeriFi Inc.’s charge-back re-presentment service no longer have to use the Los Angeles-based company’s online payment gateway. Instead, merchants now may use any online payment gateway, and they do not have to switch payment processors, Jeff Sawitke, VeriFi chief product officer, tells PaymentsSource.

Telecom Canada International, a telecommunications and energy consultancy with offices in Canada, the United States and Hong Kong, will refer its Canadian and U.S. clients wanting merchant-processing services to Elavon Inc., the Atlanta-based payment processor announced Sept. 21.