Merchant

An amendment that would give the Federal Reserve Board authority to control debit card interchange rates could have a “neutral to slightly positive” impact on First Data Corp., an executive at the Atlanta-based payment processor told analysts during a May 14 conference call to discuss first quarter earnings.

Paul A. Rianda is an attorney who has specialized in providing legal advice to the bankcard industry for more than 10 years. His e-mail is paul@riandalaw.com.

Processor Approves Way Device

The PIN Transaction Security standard consolidates three formerly separate requirements for PIN-entry devices in an update released today by the Payment Card Industry Security Standards Council.

As competition for clients intensifies and margins grow increasingly thin, many ISOs are seeking ways to reduce costs, increase efficiency and stand out from competitors. One method gaining consideration is the use of digital signatures and contracts.

Smartphone-based transactions represent an opportunity to grow the U.S. card-acceptance market, which largely has become saturated and commoditized because many brick-and-mortar merchants already accept card payments.

VeriFone Holdings Inc. has changed its name. The point-of-sale terminal maker now is called VeriFone Systems Inc., the San Jose, Calif.-based company announced May 18.

IPayment Inc., a Nashville, Tenn.-based payment processor, is reselling Roam Data Inc.’s RoamPay mobile-payment services, Roam Data says. RoamPay can be loaded onto cell phones and used to accept credit and debit card payments.

VeriFone Holdings Inc. Monday said it has purchased Orange Logic Ltd., a South Korea-based point-of-sale terminal maker.

At the recent National Collections & Credit Risk Conference, financial experts shared their perspectives on managing collections in a presentation titled, “Decrease Defaults with Untapped Customer Information.” This article is a continuation of that discussion.