Technology

MoneyGram International Inc. swung to a second-quarter profit on an 11% drop in operating expenses as revenue came in short of analysts' expectations, reports Dow Jones.

U.S. consumer credit charge-off rates continued declining in June, continuing a trend underscoring the improving health of card issuers’ portfolios.

Significant improvement in two key business metrics–fleet-fueling volume and number of vehicles serviced–combined with stronger cobrand MasterCard purchase volume helped boost second-quarter revenue at Wright Express Corp.

Wright Express Corp. on July 30 announced a $318 million deal to acquire the Australian prepaid and fleet card operations of London-based Retail Decisions Ltd. as part of Wright’s strategy to diversify its fuel card operations.

Economic pressures that caused volume to decline in Europe and decreases in mobile-operator rates in some markets contributed to a relatively poor second quarter financially for Euronet Worldwide Inc.

PBS A/S, a Denmark-based electronic-payments provider, will process all transactions initiated with cards issued in Germany by Luxembourg-based Ikano Bank SE under an expanded contract agreement PBS announced on July 27.

ProPay is introducing a secure virtual terminal that can help small merchants improve their data security.

Mobile banking through mobile devices such as cellular phones, smart phones and personal digital assistants has more than doubled globally since 2008 with consumers in the Asia-Pacific region, Central and Eastern Europe and the United States at the forefront, new research from KPMG International suggests.

IPay POS Credit Card Terminal, the new version of the mobile-payment acceptance application called ProcessAway, now works with multiple gateways and comes with a card reader to accommodate card-present transactions, according to Randy Palermo, who developed the application that works on Apple Inc.’s iPhone.

Citic Bank International Ltd., a member of the China Citic Bank Group, has begun using the Clearing House Interbank Payments System to support the bank’s wire-transfer payments, the Clearing House announced July 28.