Technology

Visa Inc. says it intends to work with merchants that fail to meet two July 1 payment-security deadlines.

RBS WorldPay Inc. recently selected GDS Link LLC’s technology with the goal of improving portfolio segmentation and helping identify fraudulent merchant fraud identification, Dallas-based GDS Link announced.

National Australia Bank Ltd. plans to roll out software technology first introduced by its subsidiary Bank of New Zealand Ltd. that is designed to reduce card fraud. The technology works by changing numbers on a card's magnetic stripe each time a transaction occurs at an ATM.

Financial institutions could experience significant drops in the rate of delinquent accounts by establishing multiple lending relationships with individual customers, the results of new research by credit bureau TransUnion suggest.

With preferences for carrying and using cash continuing to drop, more consumers expect merchants to accept debit or credit cards for payment. But not all merchants do, especially those that lack physical storefronts. Some industry insiders believe mobile-based products might help encourage them to accept electronic payments.

JPMorgan Chase & Co. has hired a PayPal Inc. veteran to help guide its mobile strategy.

The move to a three-year cycle for updating the Payment Card Industry Security Standards Council’s three data-security standards will benefit merchants and the payments industry, says Bob Russo, council general manager.

ATLANTA – Delta Community CU has introduced its own mobile banking program, which it said will provide both consumer and business services members with convenient and secure access to real-time account information through their cell phones, smart phones, PDAs or other mobile devices.

Global Payments Inc. will lose its bank sponsorship to process Visa payment card transactions for merchants in Canada when its contract with the Canadian Imperial Bank of Commerce expires in March 2011, Atlanta-based Global Payments disclosed Friday in a U.S. Securities and Exchange Commission document.

Nokia Corp.’s decision last week to include an NFC chip in every one of its smart phones starting next year finally could help move the technology from scattered worldwide pilots to a major rollout and widespread consumer adoption, observers say.