Merchant

The number of collection agencies and creditors sued under various consumer statutes spiked to 480 in the second half of July, compared with 389 in the first half, according to data from U.S. District Courts.

The newest updates to the PCI Data Security Standard and the Payment Application Data Security Standard consist mostly of clarifications and additional guidance, says Bob Russo, general manager of the Payment Card Industry Security Standards Council that oversees the standards.

Enough is enough. Sales agents sometimes decide to sever their relationships with merchants who break rules, ask clueless questions, make unjustified demands, register wrong-headed complaints or bicker endlessly over prices and fees.

A unique merchant-funded cardholder rewards program just got a powerful new marketing channel — and, thanks to regulatory reform, a stronger pitch to make to banks.

The Royal Bank of Scotland Group PLC on Aug. 6 agreed to sell a majority stake in its lucrative processing business, RBS WorldPay, to two private equity firms for more than $3 billion.

Pivotal Payments says its integration with Pinnacle Cart, Desert Dog Marketing LLC’s e-commerce software designed for merchants to use on their websites, could help its sales agents increase their revenue by attracting more merchants.

Guest column

Financial institutions have had no shortage of regulatory changes to manage in recent months. While the CARD Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act have occupied the majority of the headlines, there are other regulatory changes the financial sector is trying to navigate.

First Data Corp.’s formation of the Banc of America Merchant Services LLC alliance with Bank of America Corp. in June of last year is paying dividends for the transaction processor.

Pivotal Payments says its integration with Pinnacle Cart, e-commerce software Desert Dog Marketing LLC designed for merchants to use on their websites, could help its sales agents increase their revenue by attracting more merchants.