Jeffrey Green

A lower reduction in the allowance for loan losses compared with the same period last year helped to drive down the second-quarter profit for the Card Services and Auto (Card) unit at JPMorgan Chase & Co., the issuer reported July 13.

Globalgroup Investment Holdings has signed an agreement to integrate mFunds Global Payment Solutions’ PayVault payment service into its America's LayawayMalls online merchandise layaway program, the proprietary technology provider for payment and collection services announced July 12.

LevelUp is eliminating one of the fees merchants pay to accept cards through its mobile-payment system, which uses QR codes to access pre-enrolled debit or credit cards when shopping.

More than 6,500 cabs will receive payment systems integrated with driver and passenger information tablet displays under a five-year contract awarded to VeriFone Systems Inc. by the District of Columbia Taxicab Commission, the terminal maker announced July 11.

Perhaps MasterCard Worldwide may have acted too swiftly in dropping its MoneySend funds-transfer service. Consumers queried recently listed MoneySend among the top five mobile-payment services they had used.

The Japanese credit card company JCB has begun operations in São Paulo, Brazil, under the name of JCB International do Brasil Representacão Comercial Ltda.

JCB International do Brasil Representacão Comercial Ltda. began operations in São Paulo, Brazil, on July 1, JCB International Co. Ltd., the international operations subsidiary of Japan-based JCB, announced July 11.

Paydiant has closed a $12 million round of funding led by Stage 1 Ventures, the provider of a cloud-based, white-label mobile payment and offer-redemption platform for retailers, banks and payment processors announced July 10.

Marketers of open-loop prepaid cards appear to have finally figured out how to promote their products to consumers. But government agencies and corporations also appear to be playing a key role in getting more of the cards to the masses.

IVR Technology Group and Fundtech have formed a partnership that expands the functionality of IVR Technology Group’s Pay-by-Phone virtual terminal, the companies announced July 9.

For ATM deployments in Canada's 7-Eleven convenience stores, it's CIBC out and Scotiabank in. And 7-Eleven is getting new machines to boot.

The long-time leaders in manufacturing payment terminals are adapting to respond to the likes of Square Inc., which this month said that some 2 million individuals and small businesses are using its dongle and mobile application to accept cards using smartphones.

PaySpan Inc., which six months ago ventured into the virtual payment card market by offering health plans and providers a more convenient and easier way to support claims reimbursements, faced a problem: the product lacked sufficient security.

Views appear mixed on whether PCI compliance matters with mobile payment dongles, but one independent sales organization says adherence to the data-security standard is a no-brainer.

With pilots nearly complete, mobile-imaging software provider Mitek Systems, perhaps best known for its check capture technology, expects the launch soon of similar imaging services to help users make payments instead of just deposits.

A California-based start-up that enables children to manage and spend funds within a parent-controlled environment has updated its system to support monthly subscriptions to games, music and other digital media.

Consumers are increasingly using payment cards at vending machines, and the owners of the devices are reaping the benefits through higher ticket sales and increased transaction volume.

Square has shut out independent sales organizations as distributors of its mobile card reader. Now one ISO has gone on the offensive by offering its own.

Giftango International will manage and deliver all of Park Group PLC’s e-gift cards and other digital prepaid products to more than 6,000 of Park’s corporate customers under an agreement announced June 20.

A Denver-based start-up that began by offering Facebook credits as rewards is adding a proprietary prepaid card to create another redemption option and to help expand the program's marketing potential.