Technology

Citing higher purchase volumes for credit and debit cards in all regions, MasterCard Worldwide earned net income of $717 million for the third quarter ended Sept. 30, up 38.4% from $518 million a year earlier, the company said Nov. 2.

Citing steady international growth and earnings from increased debit network fees, First Data Corp. delivered a 3.8% increase in third-quarter consolidated revenue, the Atlanta-based card processor reported Nov. 2.

Prepaid card marketer NetSpend Corp. is teaming with PayPal Inc. in a deal that so far has been the subject of little fanfare by either company.

Bank of America Corp.'s decision to drop its controversial debit-card fee may have come too late to retain some accounts because a large number of big-bank customers already have defected to smaller banks in protest over fees (see story).

Using an effective online banking data-security method customers view as nonintrusive represents the best option for financial institutions as fraud-prevention capabilities increasingly become key factors in consumer choice, a fraud expert suggests in a recent study report.

Sluggish global economic growth has placed pressure on international corporate activity, but it also is providing an opportunity for corporate payment-automation providers such as Syncada that peddle more efficient processing.

One month ago today the new debit interchange fees under the Durbin amendment became a reality for banks. This hotly debated and highly controversial new regulation slashed fees banks could charge on debit transactions nearly in half (the current cap is 24 cents, down from an average of 44 cents).

Fidelity National Information Services, which does business as FIS, says Fifth Third Bancorp will use its Payment Manager online bill-payment service under a deal the companies announced Oct. 31.

Companies pushing mobile-payment technology in the United Kingdom have failed to capture the imagination of consumers, who generally indicate low interest in initiating transactions using their mobile phones, new study data suggest.

MoneyGram International Inc. showed decreases in its bill-payment revenue for its third-quarter earnings report but says it is ramping up its billing business.