Technology

Apple Pay was supposed to deliver a victory blow for Near Field Communication payments, but its launch seems to be doing as much damage as good for the cause of NFC.

Total System Services is close to beginning tests of new products and merchant services, and is already seeing a benefit from last week's launch of Apple Pay. But in prepaid, a significant business for the processor, TSYS is still awaiting new rules from the government.

Regulators are turning up the heat on overdraft fees and, increasingly, so are banks.

The Merchant Customer Exchange is informing individuals and businesses involved in the testing the venture's CurrentC mobile payment system that "unauthorized third parties" have obtained some of their email addresses.

MasterCard plans to launch MasterPass, the card network's digital wallet, in Taiwan.

WEX Inc.'s virtual card business has continued to grow as the company makes more payments to hotels for its online travel company clients.

Poynt Co., a startup headed by former Google and PayPal executive Osama Bedier, is looking to take advantage of the EMV hardware upgrade schedule to entice merchants to switch to its new app-based payment terminal.

This year has been so bad for merchant data breaches that President Obama felt the need to advance the timeframes to be EMV-compliant at government points of sale.

Large payment companies, including PayPal, are increasingly using incubators and accelerators to learn about consumers and to nurture startups that might become partners.

Total System Services is close to beginning tests of new products and merchant services, and is already seeing a benefit from last week's launch of Apple Pay. But in prepaid, a significant business for the processor, TSYS is still awaiting new rules from the government.