Technology

The combination of Square Inc.’s popularity and forthcoming reduced debit card interchange fees is helping HomeATM ePayment Solutions to finally gain traction in the marketplace, according to the company’s president and CEO.

Intuit Inc. is furthering its strategy to become a go-to provider to small businesses for their payment needs.

A glance at fraud statistics would seem to yield an obvious answer: the United States needs to catch up with the rest of the world and upgrade old-school magnetic stripe cards to modern chip and PIN models.

Euronet Worldwide Inc.’s EFT Processing and epay segments reported strong fourth-quarter transaction growth. However, the gains did not translate into increased revenue for the units.

Revenues earned by credit unions from debit card interchange is far more than was previously thought – an estimated $2.6 billion for 2010 – according to CUNA, which is preparing testimony for tomorrow’s Congressional hearing on interchange legislation.

Mobile-network operators NTT Docomo Inc. of Japan and KT Corp. of South Korea have inked a deal to support Near Field Communication payments for smartphones in the two countries that use Google Inc.’s Android operating system.

The Australian capital territory of Canberra plans to roll out the MyWay smart card ticketing system on its Action bus service starting Feb. 21, a spokesperson at the bus operator tells PaymentsSource.

Financial institutions and consumers will be able to more quickly detect and respond to fraudulent transactions and suspicious bank-account activity using a mobile-based fraud-management service ClairMail Inc. has developed, the San Rafael, Calif.-based company announced Feb. 17.

WASHINGTON – Federal Reserve Chairman Ben Bernanke expressed doubt this morning on the workability of exemptions for credit unions and small banks from the debit interchange price controls required under the Dodd-Frank Financial Reform Act.

Skimming crimes — and their costs — are rising.