Merchant

Consumer borrowing increased by the largest amount in more than three years in July, led by a gain in non-revolving credit that includes student loans.

Most independent sales organizations are turning their backs on a whole category of potential card-acceptance accounts, according to a payments-gateway provider.

In an effort to make the technical aspects of credit card security compliance easier for its small-business customers, Century Payments Inc. will put Trustwave fraud-protection programs in place within three months, the company said Sept. 7.

Visa Europe is making more headway promoting its contactless card and mobile technology in France, as it launches a second contactless pilot in Strasbourg. Visa also has a contactless pilot operating in Nice, France, which launched in May 2010.

Andrews FCU on Wednesday announced it is rolling out a Globe Trek Visa Rewards credit card with both magnetic strip and the Europay, MasterCard and Visa EMV technology, also known as Chip and PIN.

VeriFone Systems Inc. continues to show positive quarterly results in terms of revenue and net income, and company executives expect the trend to continue as contactless mobile payments grow worldwide and EMV chip-and-PIN takes hold in the United States.

A quarterly analysis of credit trends in Canada found that the average total debt for consumers ticked up in the second quarter ended June 30 to $25,603, a $6 increase from the first quarter total, which had marked the first decrease in nearly seven years. The total does not include mortgage debt.

VeriFone Systems Inc. on Sept. 6 reported a 21.5% increase in third-quarter revenue, marking the fifth consecutive quarter in which the company experienced a revenue gain of 20% or more compared with the previous year.

Following recommendations from India’s central bank urging the country’s financial institutions to issue chip cards, ICICI Bank Ltd. has begun to issue its first EMV-compliant credit card, the issuer announced Sept. 5.

Growth in merchant accounts that translated into more credit card transaction-processing fees helped Canadian merchant processor VersaPay Corp. boost second-quarter revenue.