ISO & Agent

The card networks are under pressure in a number of countries, providing ammunition for retailers wanting similar cost adjustments in the U.S.

MasterCard has agreed to buy the merchant payments unit of Transaction Network Services in Reston, Va.,a deal that would expand the e-commerce services offered by DataCash, MasterCard's payment processing subsidiary.

Costco, which is replacing American Express in Canada, is also seeking bids for both an issuer and a payments network for its U.S. cards, a move that may result in a replacement for American Express in the States, according to two people familiar with the matter.

Best Buy Co., the world’s largest electronics retailer, is switching its credit-card processing partner to Visa Inc. from MasterCard Inc., according to two people briefed on the matter.

Apple Pay's NFC-based mobile pay system doesn't automatically equate to a marriage between the retailers' point of sale and the contactless communication technology.

The device, known as Clover Mobile, allows merchants to perform a variety of business functions, including scanning inventory and taking payments, using a mobile tablet. Earlier versions of Clover, called Clover Station, were designed to be affixed to a countertop.

Verifone is changing its logo and marketing to signal the many pivots it is making to provide a broader range of services to merchants that must embrace mobile and digital technology to stay relevant.

The Peterbrooke Chocolatier has a new recipe for mobile payments: it's blending Apple Pay with NCR's order-ahead and mobile point of sale technology to engage its customers in a new way.

About 60% of the first cards loaded onto Apple Pay are Visa cards, and the card network plans to build on this beginning in an aggressive mobile commerce strategy, according to CEO Charles Scharf.

The Merchant Customer Exchange is facing harsh scrutiny after some of its merchants shut off all Near Field Communication capabilities to show allegiance with the merchant mobile wallet over Apple Pay.

Apple Pay was supposed to deliver a victory blow for Near Field Communication payments, but its launch seems to be doing as much damage as good for the cause of NFC.

Poynt Co., a startup headed by former Google and PayPal executive Osama Bedier, is looking to take advantage of the EMV hardware upgrade schedule to entice merchants to switch to its new app-based payment terminal.

Total System Services is close to beginning tests of new products and merchant services, and is already seeing a benefit from last week's launch of Apple Pay. But in prepaid, a significant business for the processor, TSYS is still awaiting new rules from the government.

A number of large retailers are pushing back against Apple Pay, making clear the power merchants wield in the developing mobile payments market.

InComm is adding add over 15,000 locations to its Vanilla Reload network, which allows prepaid card users to reload their general-purpose reloadable card accounts by swiping the card at the point of sale.

Apple Pay has launched to considerable buzz, but the technology giant has done little to communicate where its new mobile wallet can be used, leaving its partners to fill the void.

Private equity firm LLR Partners acquired a stake in Phreesia Payment Services as part of a $30 million investment.

U.S. Bank has been trying to get iPhones to make contactless payments for a long time, but most of its efforts didn't pan out. The launch of Apple Pay and the rapid advancement of mobile technology may breathe some new life into the bank's old ideas.

Online art marketplace Etsy is offering a mobile card reader, Sell on Etsy Reader, to its sellers for free, allowing them to transact in-person.

Transactions have long been free for consumers, but Ashe Pay is betting that consumers are willing to pay a $1 monthly fee to be part of a network that allows instant payments to vetted merchants.