Merchant

TransUnion's Credit Risk Index (CRI) declined in the first quarter after five straight quarterly increases, indicating that consumer credit risk conditions in the U.S. are improving.

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.

Several recent economic indicators show that the recovery is gaining strength, but still isn't growing fast enough to bring down the unemployment rate.

With sales growth in Europe and the Asia Pacific, Hypercom Corp. on May 5 reported a $375,000 first quarter profit; the Scottsdale, Ariz.-based payment-terminal maker reported a $9.9 million loss during the same period last year.

David Leppek has an opportunity that many in the ISO and acquiring business encounter infrequently in their careers. He has the chance to design his ISO, Transaction Services LLC, without having to use years old legacy technology.

Citing a desire to remain competitive and drive issuer participation and innovation in its network, Visa Inc. in April increased the interchange rate it applies to purchases switched through its Interlink PIN-debit electronic funds transfer network.

The PCI Security Standards Council, which oversees data-security standards for the payments industry, is responding to inquiries from payments companies for more staff training by launching an internal security assessor certification program, a council spokesperson tells PaymentsSource.

I just finished reading your article on legislation to restrict debt settlement firms. The information you presented accurately portrayed the negative allegations that were put forth recently. (See story.)

Banks and insurers are more optimistic and have made strides strengthening risk management, according to a survey of 346 senior risk management executives in the financial services industry conducted in February by the Economist Intelligence Unit.

Apple Inc. could be in the hunt to acquire Vivotech Inc., a Santa Clara, Calif.-based company specializing in contactless payments, Bloomberg News reported today.