Jeffrey Green

MoneyGram International Inc. said its fourth quarter net income rose 105% on improvements in operating efficiencies and an increase in funds transfers.

MasterCard Inc. this morning reported fourth quarter net income of $415 million, up 41.6% from $294 million during the same period the previous year. Net revenues rose 10.8%, to $1.44 billion from $1.3 billion, driven by an 18.7% increase in cross-border volumes and other factors, MasterCard said in its Feb. 3 earnings release.

Canadian Imperial Bank of Commerce has become Canada's latest issuer of MasterCard Inc.'s contactless PayPass credit cards.

SafetyPay Inc. will provide JetPay LLC with a worldwide payment platform and access to a suite of alternative payment options.

The prepaid card processor FNDS3000 Corp. of Ponte Vedra Beach, Fla., said Monday that it closed on a $500,000 private placement, the second scheduled portion of a $2.5 million, nonbrokered equity financing agreement entered into in October and led by Sherington Holdings LLC.

Processor Total System Services Inc., or TSYS, this afternoon reported fourth quarter net income of $51.6 million, down 18% from $62.9 million during the same period last year, Revenue was up 1.7%, to $440 million from $432.5 million.

Cardtronics Inc.'s Allpoint surcharge-free ATM network has added more than 2,500 Cardtronics Mexico ATMs deployed in retail locations across Mexico, including Oxxo convenience stores.

Global Axcess Corp. has completed two acquisitions that will expand its ATM and DVD kiosk businesses, the self-service kiosk provider announced Jan. 14.

Driven by a lower provision for credit losses, partially offset by lower net revenue, the Card Services unit at JPMorgan Chase & Co. generated fourth-quarter net income of $1.3 billion; it reported a $306 million loss during the same quarter ended Dec. 31 last year, Chase reported this morning.

U.S. Sen Dick Durbin, D-Ill., on Dec. 22 sent a letter to Elizabeth Warren, special advisor to the secretary of the treasurer and the person responsible for establishing the newly created Consumer Financial Protection Bureau, seeking her help to protect consumers from attempts to circumvent new payment card regulations “by pushing consumers to less-regulated products such as prepaid cards.”

The board of directors of Ingenico SA earlier today rejected an unsolicited, nonbinding offer to acquire the French terminal maker.

The board of directors of Ingenico SA earlier today rejected an unsolicited, nonbinding offer to acquire the company (see story).

Ingenico SA said it has received a nonbinding stock offer in a deal whose value could approach $1.9 billion. The French terminal maker would not say who made the bid.

Ingenico SA said it has received a nonbinding stock offer in a deal whose value could approach $1.9 billion. The French terminal maker would not say who made the bid.

Improvement in the credit performance of the Discover card portfolio helped Discover Financial Services to generate net income of $349.6 million for the fiscal fourth quarter ended Nov. 30.

A mobile commerce company in Berkeley, Calif., says it has devised a means to enable mobile phones to communicate with chips in attached stickers to support true two-way communication for contactless payments.

Tempo Payments Inc. plans to conduct a pilot program early next year in which it will support mobile contactless payments tied to so-called decoupled debit cards.

Visa Europe announced a settlement with the European Commission on Wednesday, agreeing to cap its weighted yearly average intraregional multilateral interchange rate for immediate debit transactions at 0.2% of the sale for four years.

With debit card interchange rates expected to go down next year, rates for automated clearing house debits could go up as financial institutions attempt to make up for lost revenue, new research suggests.

Retailers saw improvements in Black Friday spending, according to First Data Corp. and PayPal Inc., which recently reported double-digit increases in spending data compared with the same day in 2009.