Technology

Bolstered by improved operating efficiencies and increased funds-transfer activity, MoneyGram International Inc. on Feb. 4 reported net income of $16.2 million for the quarter ended Dec. 31, up 105% from $7.9 million during the same period the previous year. Revenue was up 2.6%, to $303.4 million from $295.6 million.

Consumers are attacking their debt and borrowing less, but the average U.S. borrower with debt from unsecured loans, including credit cards, still owes an average of $10,000 spread among an average of seven creditors, according to data CareOne Services Inc., a national for-profit consumer debt-relief firm, released Feb. 2.

Zumogo, ProPay Inc.’s new social-media payment tool for mobile phones, leaves out vital information that ProPay says some competitors leave in.

The South African National Department of Transport has picked Clear2Pay NV to develop functional testing services for EMV contactless cards and payment terminals in the country, the agency announced last week.

In yet another sign 2011 promises to include an avalanche of Near Field Communication-related announcements, LG Corp. is jumping on the bandwagon. That should shock no one, one analyst contends.

Fiserv Inc.’s shares fell more than 3% in after-hours trading Thursday after the Brookfield, Wis., banking technology vendor reported earnings that missed analysts’ estimates.

CashEdge Inc. is linking to NYCE Payments Network LLC to allow for real-time person-to-person payments.

MasterCard Worldwide CEO Ajay Banga expressed concern about the effects of the Federal Reserve Board’s proposed debit-interchange rules, but he also sketched out various scenarios in which MasterCard may benefit during an analyst conference call to discuss fourth-quarter earnings.

Continuing its expansion into newer payments-related territory, Visa Inc. intends to focus on increasing its presence in mobile payments, online commerce and funds transfers, Joseph W. Saunders told analysts during a conference call to discuss fiscal first-quarter earnings.

A test of an open transit payment card along a 14-mile commuter rail line near Philadelphia also will gauge the effectiveness of post-paying for transit rides.