Technology

The Metrolink rail system in Southern California is offering commuters a "smart" paper ticket as part of the transit access pass, or TAP, smart card system operating on Los Angeles buses and trains since 2007.

Iyzi Payments has raised $1.4 million from a group of undisclosed angel investors, and it will use the funds to build a new payments platform in Turkey.

The Mississippi Department of Revenue is providing its agents with mobile devices to accept credit or debit cards for tax payments.

MasterCard has named Gilberto Caldart as the president of its Latin America and Caribbean business, succeeding Richard Hartzell, who takes on a new role as head of MasterCard's business with merchants and acquirers across international markets.

The U.S. Supreme Court reinforced companies' power to funnel legal disputes into arbitration, ruling in favor of American Express Co. in an antitrust clash with retailers over the credit cards they must accept.

Data through May, released Thursday by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, showed no change in national default rates during the month.

Online ticket payment provider Picatic has the business model of a museum—its customers are expected to pay, but the amount is at least partly up to the patron.

New nonbank companies entering the payments industry should be subject to the same regulatory oversight and transparency requirements as their financial institution peers, according to a report released by the American Bankers Association.

MasterCard and Western Union have launched an international payments service that allows small to medium sized U.S. businesses to execute cross border transactions.

Electronic payments company Ixaris, which has about 20 corporate clients using its Ixaris Payments Server, will target corporate prepaid card-issuing financial institutions with the same technology.