Technology

Meta Financial Group Inc.’s fiscal second quarter profit was cut in half from a year earlier as the Storm Lake, Iowa-based provider of prepaid cards continued to deal with penalties from the Office of Thrift Supervision stemming from one of its credit products.

While restaurants experienced a slight increase, small and mid-sized brick-and-mortar merchants experienced a 3.09% decline in overall credit and signature-debit card sales during the first quarter ended March 31. This marked the 14th consecutive quarterly decline, new research suggests.

Banks in the Pacific Island nation of Fiji should invest in educating their customers on the use of ATMs and payment card terminals, the Consumer Council suggests in a May 5 report.

VeriFone Systems Inc., the nation's largest maker of point of sale terminals, is introducing a new one that could make it as easy for merchants to accept alternative payments as it is to take Visa or MasterCard.

PayNearMe Inc. has launched a bill-payment function for its cash payment system that works with bar codes printed on billers’ statements.

When Judge W. Douglas Baird ordered collection agency Mark One Financial LLC to stop contacting Melanie Beacham and her family and friends on Facebook, it quickly raised questions about the role courts will play in governing the use of social networks by collectors.

Socialwise Inc. is furthering its promotion of its BillMyParents alternative payment system through its partnership with skateboarding star Rob Dyrdek.

Mitek Systems Inc. said it added two large banks to its roster of clients using its mobile check-deposit technology during the quarter ended March 31, as its market share in the category continues to grow.

First Data Corp. announced May 9 it has named Mark Herrington executive vice president of global product management and innovation, and appointed him to the company’s executive committee.

PayPal Inc. could lose a substantial amount of transaction revenue if pending caps on debit interchange are applied to the alternative payments company, an analyst with FBR Capital Markets said in a research note Thursday.