Technology

Higher spending on its credit and debit cards boosted MasterCard Inc.’s second-quarter net revenue by 21.4% from a year earlier.

Payments technology vendor Fundtech Ltd.’s second-quarter revenue rose 16.4% from a year earlier to $40.5 million as it closed 130 new deals and added 14 new bank clients.

Verity Credit Union, the latest customer of mFoundry's mBanking solution, has come out with the news that 6% of its customers began using mobile banking within three months of the credit union offering the service.

For a large international operation such as RBS' wholesale banking unit, drawing a mobile roadmap means scaling the knowledge curve posed by fast-developing new devices and technology to find the best match between innovation and client demand.

Debit card issuers scrambling to ensure they have appropriate fraud-protection strategies in place before new debit-interchange rates kick in Oct. 1 are likely to confront some dilemmas, some analysts suggest.

Uncertainty remains for clients of payments and banking software provider S1 Corp. despite its plan to stay the course on a proposed merger with Fundtech Ltd.

With 2.6 billion China UnionPay cardholders and 1.2 million Elavon Global Acquiring Solutions merchants worldwide, the math simply added up for an agreement that would enable Elavon merchants to accept UnionPay cards, an Elavon executive says.

Financial technology vendor S1 Corp.’s board of directors has rebuffed an unsolicited acquisition bid from rival ACI Worldwide Inc., signaling its commitment to an existing agreement it has to buy another competitor.

Digital payments have been the primary enabler of new financial services in Africa, as evidenced by the M-PESA-driven development of an entire financial ecosystem in Kenya. Further south, MTM MobileMoney has developed an electronic commerce payments system that enables debit payments, which should decrease seller discomfort with the credit-based digital commerce that has prevailed in that country.

Heartland Payment Systems Inc. is prepared to pass along what it calls “Durbin Dollars” to its merchant clients.