Merchant

A federal court has halted an international scheme that used identity theft to place more than $10 million in charges on consumers’ credit and debit cards.

MasterCard Worldwide has promoted Ajay Banga, president and chief operating officer, to chief executive officer, effective July 1. Banga also was named a member of MasterCard’s board of directors. Banga succeeds Joseph W. Selander, who will become executive vice chairman until his retirement on Dec. 31. MasterCard also promoted Alfredo Gangotena to chief marketing officer from global products and solution lead for MasterCard in Europe. Gangotena replaces Lawrence Flanagan, who is retiring.

Visa Inc. says it intends to work with merchants that fail to meet two July 1 payment-security deadlines.

From the June 24, 2010, issue of ISO&Agent Weekly.

From the June 24, 2010, issue of ISO&Agent Weekly.

From the June 24, 2010, issue of ISO&Agent Weekly.

From the June 24, 2010, issue of ISO&Agent Weekly.

From the June 24, 2010, issue of ISO&Agent Weekly.

An estimated 541 different collection agencies and creditors are named in 503 consumer statute lawsuits filed nationwide in the first half of June, according to data from U.S. District Court complaint dockets. The numbers are up from the previous two reporting periods.

Accelerated Payment Technologies Inc. hopes its recent name change will further its ambitions to sign up more merchants for its point-of-sale processing services. It also is looking for a bit of help from software vendors.