Technology

Total Systems Services Inc., or TSYS, has purchased the Vanguard Payment Systems Inc. portfolio of 1,200 merchant accounts, which now will receive service through TSYS Merchant Solutions, the Columbus, Ga.-based payments processor announced Oct. 21.

Google Wallet is riding on an active trend to connect retailer loyalty programs to mobile-payment systems.

USAA always has been an early adopter of new digital banking technology, partly because of its customer base of military personal, who often are dispatched to locations around the world on short notice.

Days after South Korea’s card networks agreed to slash the interchange rates they apply to credit card acceptance at small merchants, the Korean government has said that it would strive to unify their rates.

PayPal Inc.’s brand recognition with consumers is helping parent EBay Inc.’s payment unit to position its mobile offerings as the most secure product in the marketplace, eBay’s CEO noted during a conference call to discuss the company’s third quarter earnings.

Helped by a 10% increase in credit card sales from a year earlier as consumer spending accelerated, Alliance Data Systems Corp. on Oct. 20 reported significant increases in third-quarter revenue and income.

CU Business Group, a member business lending credit union service organization owned by eight corporate credit unions, has signed with BankServ to market the company’s mobile remote deposit, mobile banking, remote deposit capture and a variety of payment services to credit union’ business members.

Visa Inc. and MasterCard Worldwide, sued last week by independent ATM operators over ATM fees the operators say violate federal antitrust laws, are the target of two new suits brought by consumers regarding their ATM charges.

China’s mobile-payments market is expected to grow considerably in the coming years even as concerns remain about security and the lack of cooperation between telecommunication operators and banks, a new report suggests.

Citing strong cardholder spending increases across the board, American Express Co. on Oct. 19 said its U.S. Card Services unit produced income of $733 million during the quarter ended Sept. 30, up 23.2% from $595 million a year earlier.