Technology

Mobile payments in India received a major boost on June 27 when Nokia India Pvt. Ltd., the Indian arm of the Finnish mobile handset maker, announced it would offer its Mobile Money service on all Nokia devices.

S1 Corp. and Fundtech Ltd. have not competed directly, but they sold to many of the same customers. As such, their announced merger would substantially boost the power of each company’s sales team as they pursue new markets and deepen existing customer relationships.

Bankcard issuers are likely to face steep challenges in getting credit card spending back on track after the economic downturn, as various economic indicators suggest consumers are more cautious than ever about their card spending, one analyst contends.

Another company has announced a mobile payments and marketing app in what some are calling the Wild West of mobile payments.

JPMorgan Chase & Co. is making it easier for holders of its cobranded Amazon Visa credit card to redeem rewards points for purchases.

A San Francisco-based startup called Card.io is offering software that enables cell-phone cameras to scan credit card information, thus moving ecommerce from the Web to mobile phones and creating a new product for ISOs to sell to merchants.

Small and midsize businesses now have an alternative to traditional card-payment processing channels through a new mobile-payment processing service rolled out earlier this month by Australia’s Commonwealth Bank Ltd.

Vivotech Inc., a Near Field Communication software and systems company, has received $24 million in funding to expand beyond the 35 countries where its products are now used, the Santa Clara, Calif.-based company announced June 27.

Two payment transaction software and service providers, S1 and Fundtech, have agreed to a "merger of equals" today in a deal valued at $700 million. Upon closing of the transaction, S1 shareholders will own approximately 55 percent and Fundtech shareholders approximately 45 percent of the combined company. The combined company will be headquartered at S1's headquarters in Atlanta and will be called Fundtech.

A San Francisco-based startup called Card.io is offering software that enables cell-phone cameras to scan credit card information, thus moving ecommerce from the Web to mobile.