New York Federal District Court Judge Barbara S. Jones ruled Visa Inc. and MasterCard Worldwide must allow banks that issue their cards to also issue cards for American Express Co. and Discover Financial Services. Jones said to do otherwise would be anti-competitive. Visa immediately appealed and asked that the ruling be put on hold.
Fiserv Inc. acquired NCR Corp.'s bank processing outsourcing operations. Fiserv took over NCR's account processing and item processing businesses and began providing daily transaction services for nearly 300 financial institutions. Fiserv added almost 600 people to its payroll in the United States, Canada and Argentina with the purchase.
After The Gores Group LLC purchased VeriFone Inc. from Hewlett-Packard Development Co. L.P, VeriFone introduced the Omni 3700 series - a POS payment device featuring Europay/MasterCard/Visa smart card acceptance capability. New VeriFone Chief Executive Officer Douglas Bergeron said he was eager to show the new product to ISOs.
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