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NewsBriefs

Editor's Note: Following are excerpts from news stories recently posted refunds for improper fees. The case, Al's Pals Pet Care LLC et
under Breaking Industry News on our home page. For links to these and al. v. Woodforest National Bank N.A., is pending in the United
other full news stories, please visit www.greensheet.com/breakingnews. States District Court for the Southern District of Texas.
php?flag=previous_breaking_news. Numerous complaints against the defendants predate the
August 2017 acquisition of Merchants' Choice by Paysafe
Group PLC for $470 million, according to plaintiffs' counsel.
SWIFT begins 2018 with tough security measures

Jan. 1, 2018, was the deadline for members of the Society
for Worldwide Interbank Financial Telecommunication to
implement new, stricter security guidelines. The Belgium-
based SWIFT network facilitates financial transaction
flows, trade and commerce. Its financial messaging
platform connects more than 11,000 banking and securities
organizations across a global footprint.

As part of its commitment to continual process
improvement, SWIFT introduced the Customer Security
Programme (CSP) in March 2017, a cybersecurity initiative.
Members were invited to share views on how to protect
the SWIFT network and adjacent, connected environments
from cyber fraud. CSP architecture is based on the SWIFT
Shoppers, criminals converge on Super Saturday Customer Security Controls Framework, which includes
16 mandatory and 11 advisory security controls for SWIFT
etailers braced for Super Saturday, the last full users. Mandatory controls establish a baseline for the
Saturday before Christmas Eve, which fell on SWIFT community. Advisory controls are based on good
Sun., Dec. 24, 2017. A survey, published Dec. 20, practice and could become mandatory at a later date.
R 2017, by The National Retail Federation found
only 12 percent of shoppers considered themselves "done" UK outpaces US in mobile wallet usage
with holiday spending at that time. Fifty-three percent
of consumers polled said they planned to complete their Mobile wallet usage is more widespread in the United
shopping at brick-and-mortar stores, where they intended Kingdom than in the United States, according to a study
to purchase last-minute gifts and food items, NRF analysts published Dec. 22, 2017, by Auriemma Consulting Group,
stated. a boutique management consulting firm with offices in
New York and London. Auriemma researchers attribute
The NRF expected record spending to continue through the disparity to the U.K.'s broader adoption of near field
New Year's Eve. This included the upward trajectory of communication technology, which has enabled tapping at
ecommerce spending, which totaled more than $58 million the POS to become a mainstay for U.K. merchants.
between Black Friday, Small Business Saturday and Cyber
Monday in 2017. Early NRF analysis showed more than 64 Jaclyn Holmes, Director of Payment Insights at Auriemma
million omnichannel consumers shopped across online and noted U.K. consumers have been tapping at the POS since
in-store channels, and approximately 51 million shopped 2007. "Their increased comfort with this technology, in the
exclusively in brick-and-mortar stores throughout the five- decade since its inception, makes payment behavior at the
day period. point of sale less of a barrier for mobile pay adoption," she
stated. "If anything, paying with a tap has become more
Class action against MCPS alleges natural for this population than their US counterparts, who
misrepresented fees, contracts only recently began the move from swipe to dip."

A class action complaint filed Dec. 22, 2017, against Electronic Payments recognized for entrepreneurship
Merchants' Choice Payment Solutions and Woodforest
National Bank N.A., seeks damages for a large group of The results of a comprehensive analysis of private
merchants, according to court documents. Plaintiffs have companies across America are in. Entrepreneur magazine
claimed the defendants fraudulently obtained contracts released its Entrepreneur360 List, which honors 360 small
and overcharged for services. businesses based on four pillars of entrepreneurship:
impact, innovation, growth and leadership.
Atlanta-based law firm Webb, Klase & Lemond LLC and
Houston-based law firm Meade & Neese LLP are requesting Among an elite group of payment companies selected,
rescissions for alleged fraudulently obtained contracts and Calverton, N.Y.-based Electronic Payments placed 106 in

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