Technology

Nacha, the electronic payments association, is advocating security as a reason to adopt faster processing — a move that would require a change in the association's rules that has thus far proven elusive.

Consumers aren't letting go of their debit cards just yet, but an improving economy is motivating some of them to dust off their credit cards, MasterCard Inc. says.

U.S. banks and merchants face many obstacles in preparing for EMV chip-based cards at the point of sale — and the Web is no less reluctant to change.

Payment terminal maker VeriFone has appointed Paul Galant, previously a Citigroup payments executive, to be its chief executive officer and a member of its board of directors, effective Oct 1.

MasterCard and e-invoicing provider Basware will offer an electronic payments system designed to speed payments and approvals for suppliers and extend payment terms for buyers.

Singapore-based F1Soft International will provide online and mobile money transfer software to Bangladesh Commerce Bank to help customers seeking ways to send money to family members in other countries.

For credit unions, mobile wallets are as much a threat as an opportunity. In an effort to fight back, One Nevada Credit Union is working with several experts on CU Wallet, a credit union-focused mobile payments system.

A substantial majority of payments in the U.S. and Canada are non-cash, placing the two countries close to being cashless, MasterCard reported Sept. 23.

Payment processing software company ACI Worldwide has entered an agreement to buy Official Payments Holdings, a seller of electronic bill payment technology.

Richard Lyon is the new commercial director for Northern Europe at Spire Payments, a payments technology company.