Technology

A security vendor is trying to sell transaction monitoring services directly to consumers, a technology that until now has been offered primarily to banks.

The newest updates to the PCI Data Security Standard and the Payment Application Data Security Standard consist mostly of clarifications and additional guidance, says Bob Russo, general manager of the Payment Card Industry Security Standards Council that oversees the standards.

A unique merchant-funded cardholder rewards program just got a powerful new marketing channel — and, thanks to regulatory reform, a stronger pitch to make to banks.

KeyBank is offering customers text-based banking services through Fiserv Inc.'s Mobile Money program, the Brookfield, Wis., bank technology vendor said Wednesday.

TechProcess Solutions Ltd. will provide online-payment services to customers of Standard Chartered Bank India under a deal the Mumbai-based company announced last week.

First Data Corp.’s formation of the Banc of America Merchant Services LLC alliance with Bank of America Corp. in June of last year is paying dividends for the transaction processor.

Pivotal Payments says its integration with Pinnacle Cart, e-commerce software Desert Dog Marketing LLC designed for merchants to use on their websites, could help its sales agents increase their revenue by attracting more merchants.

First Data Corp. on Aug. 10 reported a net loss attributable to the company of $171.2 million for the second quarter ended June 30, down from the $195.9 million loss the transaction processor reported during the same period last year. Revenues totaled $2.61 billion, up 18.1% from $2.21 billion, driven by the formation of the Banc of America Merchant Services LLC alliance.

The $3 billion price Advent International Corp. and Bain Capital LLC will pay for an 80% stake in RBS WorldPay, the payment-processing arm of the Royal Bank of Scotland PLC, may point to an imbalance in value between privately held and publicly held payment processors, suggests David J. Koning, a senior research analyst at Milwaukee-based Robert W. Baird & Co.

India’s UTI Mutual Fund is partnering with mobile-payments provider mChek Pvt. Ltd. to launch UTI Mobile, a service that enables investors to initiate payment instructions for investing in mutual funds from a mobile phone, a spokesperson for the Mumbai-based asset management company tells PaymentsSource.