Merchant

Wolfe LLC is changing the name of its Wolfe Rewards and Loyalty business to OmniCard, a move designed to reflect the operation's range of offerings.

Financial-technology and payments company FIS has named its president and chief operating officer, Gary Norcross, to its board of directors.

Clip, which sells mobile payments technology in Spanish-speaking markets, has developed a mobile card reader.

Wal-Mart Stores Inc. and Amazon.com Inc. joined more than 30 of the biggest U.S. retailers in objecting to a $7.25 billion antitrust settlement with Visa Inc. and MasterCard Inc. over merchant fees, saying the deal is meaningless when card companies can continue to fix the charges.

Mike Passilla, JPMorgan Chase's new merchant services boss, didn't take a sledge hammer to the digital payment startups that are chewing away at incumbent payments companies, but his message was clear—Chase is one of the biggest guys on the block, and it plans to use its data and technology heft to win in the merchant acquiring game.

Retailers and the major card brands are throwing more legal punches at each other over the controversial proposed $7.25 billion swipe-fee settlement in a years-long anti-trust case.

Former Elavon president and CEO Mike Passilla will be JPMorgan Chase's new CEO of merchant services, a new role created to lead the financial institution's expanding payments and merchant services business, including Chase Paymentech.

Bitcoin has had as much bad publicity as good in recent months. But even its setbacks have served to strengthen the community that supports the fledgling alternative currency.

IP Commerce Inc., a startup backed by Venrock Inc. and Intel Corp.'s venture-capital arm, is shutting its key business, which handles credit-card processing for companies including Groupon Inc., citing competition.

Phillips 66 has joined the retailer-driven Merchant Customer Exchange mobile payments and commerce initiative, the Houston-based gas station chain announced May 23. Phillips 66 also operates Conoco stations. The company joins MCX only two weeks after the mobile payment venture added another petroleum provider, Pacific Convenience & Fuels LLC.