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NewsBriefs

Editor's note: Following are excerpts from news stories recently posted channels to serve merchants around the world in the global
under Breaking Industry News on our home page. For the full stories, see ecommerce market, and in-store and online in the UK and
Breaking Industry News on our home page, www.greensheet.com. US markets," the two companies said in a joint statement.
Cybercriminals launch fake Android, iOS updates The deal is set to be completed by Aug. 1, 2017, pending
shareholder and regulatory approvals. The merged compa-
ndroid Marcher and other malware schemes ny will retain both companies' chief executive officers. Van-
that appear to be software updates are designed tiv CEO Charles Drucker and Worldpay CEO Philip Jansen
to steal financial information and online bank- will be co-CEOs; Drucker will also be Executive Chairman.
A ing credentials, security experts warned. Some
analysts believe Android devices are more vulnerable to The proposed deal with Worldpay marks Vantiv's second
these attacks than other device types, due to their open major acquisition in less than a year. Late in 2016 the com-
architecture. pany acquired Moneris USA for $425 million.
"In a recent wave, we are seeing the malware payloads ScanSource gaining POS Portal
disguised as Adobe Flash player," wrote Zscaler ThreatLabZ
in a June 22, 2017, blog post. "Upon opening the dropper ScanSource Inc. entered a definitive agreement to purchase
URL, the user will be prompted by a message saying the POS Portal Inc. The all-cash transaction includes an initial
device's Flash Player is out of date, and the malware "Adobe_ purchase price of approximately $144.9 million, plus an
Flash_2016.apk" will be dropped on the user's device." earn-out payment up to $13.2 million to be made on Nov.
30, 2017. The combined entity is expected to create the in-
Nick Bilogorskiy, Senior Director of Threat Operations dustry's largest deployment channel for POS devices and
at Cyphort, said masquerading as a legitimate software services sold exclusively through reseller channels.
update is a classic malware technique. He has seen similar
attacks against iOS devices, including a Mac Trojan attack ScanSource specializes in POS and barcode reader, secu-
in February 2017 and the "Koobface" worm in 2010. rity and communications products, as well as cloud and
telecom services for mid-market and enterprise merchants.
Vantiv to acquire Worldpay POS Portal offers POS equipment, key injection and on-de-
mand, cloud-based solutions for small and midsize busi-
Leading U.S. acquirer Vantiv Inc. is merging with World- nesses (SMBs).
pay Group, the largest payment processing company in
the United Kingdom, in a deal valued at nearly $10 billion. Paul Constantine, Co-President of Worldwide Barcode, Net-
"The potential merger creates a scale world class payments working and Security and President of ScanSource POS and
group in a dynamic market, with deep payments capabili- Barcode, U.S., stated, "We typically like to find the number
ties, product and vertical expertise and strong distribution one player, and POS Portal obviously fit that profile."

Fed details consumer,
business noncash
payments

Consumers relish elec-
tronic payments, and
since the turn of the
century, they have shift-
ed a significant share of
check writing to elec-
tronic alternatives such
as credit, debit and pre-
paid cards and the au-
tomated clearing house
(ACH). Businesses are
weaning off of checks,
too, but at a slower pace,
and ramping up ACH
payments. These are
two high-level trends
revealed in a new re-
port analyzing the Fed-
eral Reserve Payments
Study 2016.

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