Technology

Dwolla Corp. is celebrating the one-year anniversary of its national rollout by permanently waiving its transaction fee for small-ticket purchases and funds transfers.

Fundtech Inc. on Nov. 30 announced the completion of its merger with Bankserv Inc. and, in conjunction, the company discussed plans for a new set of products.

MasterCard Worldwide and mFoundry Inc. are developing an application that will combine mFoundry’s mobile-banking software with MasterCard’s PayPass contactless-chip functionality, the companies announced Dec. 1.

China UnionPay has enabled more than 3.8 million merchants to accept Near Field Communication-based payments as part of a push to expand mobile-payments acceptance in China, a spokesperson for the card organization tells PaymentsSource.

The Indian Ministry of Finance is considering reducing the interest rates banks can charge on consumers’ outstanding card debts to make owning credit cards more affordable and to encourage mobile payments.

Acquirers representing merchants such as coffee shops and quick-service restaurants may be paying more in interchange for some small-ticket transactions under the Federal Reserve Board’s reduced debit rates than they are for cards exempt from the new rate cap, notes an attorney who frequently deals with clients in the payments industry.

A cybercrook attempting to purchase online products with fake credit cards or under a phony name likely would not be able to hide from a Retail Decisions Ltd. fraud-protection upgrade designed to enable merchants to know where their online shoppers are located, the fraud prevention consulting and payment processing firm announced Nov. 28.

Seamless Distribution AB believes it has developed a mobile-payment method that replaces the need to shop with credit and debit cards, thus saving money for merchants who no longer would have to pay card-related fees, the payments software company announced Nov. 29.

Acculynk Inc. is banking on its relationships with major U.S. retailers to help it secure card-network partnerships in the international market to deploy PaySecure, its Internet PIN-debit product.

Processor 99Bill Corp. has entered the cross-border electronic-payments market in China, offering payment-processing services for Chinese merchants that sell their products and services internationally, the Beijing-based company announced Nov. 19.