Merchant

WASHINGTON — The Federal Reserve Board on Wednesday suggested raising the debit interchange fee cap to 21 cents per transaction, but it gave banks a little bit of leeway to charge even more if they meet certain fraud prevention standards.

VeriFone Systems Inc. continues to gain momentum in the contactless-terminal market for taxis is the Asia-Pacific region, signing a contract to supply 15,600 contactless payment terminals to the largest taxi fleet in Singapore.

Yet another mobile-commerce venture is being formed, and this one could have some staying power, according to an analyst familiar with the deal.

Mobile-payments startup Square Inc.’s $100 million venture-capital avalanche announced June 29 could mean that the company’s transaction volume is gaining significant momentum despite its lack of profits, one analyst contends.

WASHINGTON -- The Federal Reserve Board on Wednesday suggested raising the debit interchange fee cap to 26 cents per transaction – more than double its initial proposal of 12 cents.

The Federal Trade Commission on Wednesday told Congress that consumers must be confident that their privacy will be protected if they are to be willing to take advantage of all the benefits offered by the Internet marketplace.

Hypercom Corp. announced Tuesday it will be marketing Global Blue's OneInterface software, which combines payment systems with value-added services such as tax free shopping and currency choice at the point of sale.

In a move that could help stave off defection among its multinational customers seeking global commercial card capabilities, U.S. Bancorp on June 28 said its subsidiary Elavon Financial Services Ltd. soon will begin issuing commercial cards in Europe through a new processing agreement it inked with Total System Services Inc., or TSYS.

Citing “shortcomings” with the technology, Australia’s ANZ Banking Group Ltd. has halted development of a microSD iPhone case designed to turn a smartphone into a payment device.

In an exclusive deal for MasterCard Worldwide, Indigo Books & Music Inc.’s plans to deploy terminals that accept the card brand’s PayPass contactless payments in all its stores marks the first such development for a retailer of its kind.