Fintech

Google Inc. is joining the NFC Forum, a nonprofit association that sets technical specifications for how businesses use Near Field Communication technology for payments applications and other services.

Gemalto NV is offering a software package for MasterCard Worldwide’s PayPass contactless payment system, the chip maker announced March 30.

Besides making the process easier for merchants, a good payment-security vendor can ease the burden of Payment Card Industry data-security standards compliance for independent sales organizations, a growing number of ISOs are finding.

The Smart Card Alliance’s transportation council this year plans to continue its focus in support of open-loop contactless transit payment card systems as more cities realize the potential benefits over closed-loop systems, according to an organization executive.

Bank Islam Malaysia Bhd. expects to issue more than 500,000 of its newly launched Shariah-compliant Visa-branded debit cards by the end of this year, a spokesperson for the Kuala Lumpur-based bank tells PaymentsSource. The bank began issuing the card on March 1.

The Federal Reserve Board’s decision this week to take more time to analyze comments before finalizing its proposed debit-interchange rules could mean the final rules might not take as big a bite out of issuer revenue, some analysts believe.

Visa Inc., MasterCard Inc. and several leading Canadian banks that issue their cards face being included in proposed national class-action litigation tied to a lawsuit filed March 28 in the Supreme Court of British Columbia. The suit alleges the card networks and their major issuers conspired to fix prices on fees merchants ultimately pay to accept cards.

Citing the proliferation of smartphone Near Fear Communication applications, NFC provider Vivotech Inc. next year plans to conduct an initial public offering of company stock to help boost its ability to build more NFC products and systems, Muhammed Khan, founder and president of Vivotech, tells PaymentsSource.

As many banks break the unpleasant news to consumers about the disappearance of checking account perks, PNC Financial Services Group Inc. has developed a way to make customers feel empowered about the changes.

American Airlines Federal Credit Union on March 30 announced a remote deposit capture service.