Technology

Merchant acquirers that fail to follow Visa Inc.’s safeguards to prevent processing certain high-risk merchants’ transactions face paying $100 per charge-back on top of regular penalty fees under a program Visa announced to its acquirers in March.

Executives from U.S. Bank opened the kimono yesterday at SourceMedia's 4th Annual Mobile Banking and Emerging Applications Summit, laying out the bank's mobile roadmap in great detail.

The CPI Card Group is manufacturing the next-generation of mobile payment stickers for Discover Financial Services and MasterCard Worldwide, the Littleton, Colo.-based card producer announced last week. Both stickers use contactless technology from Inside Contactless SA.

Efforts to create a common set of requirements for so-called “end-to-end” encryption moved forward last week when the Secure POS Vendor Alliance released its End-To-End Encryption Security Requirements.

Global mobile-payment services provider Mobibucks Pvt. Ltd. has inked a strategic-partnership deal with Emirates Net Systems LLC, an official from the Abu Dhabi-based information-technology provider tells PaymentsSource.

Issuers in Europe are rolling out payment cards featuring built-in display screens that offer improved security and can provide access to balance information - but there are major hurdles that make it unlikely any banks would offer the technology in the U.S. anytime soon.

MasterCard Worldwide on June 3 introduced an application designed to enable cardholders with Apple Inc. iPhones to initiate person-to-person funds transfers between MasterCard accounts. But thus far just one U.S. banking company is supporting the service.

Local governments, universities and charities in the United Kingdom may use First Data Corp. to manage their credit cards issued to employees now that the Atlanta-based company is an approved supplier to these types of organizations, First Data says.

China Mobile reportedly is delaying deployment of an RF-SIM contactless-payment technology based on a standalone 2.4-gighertz frequency and instead is adopting SIMpass, a contactless card that uses a 13.56-megahetz radio frequency and that is fully compatible with the widely accepted Near Field Communication standard.

The Federal Trade Commission named several new defendants and added charges concerning so-called "forensic audits" to its lawsuit against an operation that allegedly bilked homeowners who were trying to lower their mortgage payments. The action is part of an ongoing crackdown on scams that target consumers who are behind in their mortgage payments or at risk of foreclosure.