Technology

Global Payments Inc. is offering merchants in five new Asian countries the ability to accept China UnionPay cards.

Visa Inc. may soon test a system for making contactless payments with an Apple Inc. iPhone using a case with a chip in it, according to reports.

Chantilly, Va.-based Online Resources Corp. Wednesday reported a first quarter loss of $200,000, down from a $1.6 million loss for the same quarter last year.

First-quarter growth in transaction-processing volume and same-store sales reflect strengthening business conditions and contributed to improved quarterly earnings for Heartland Payment Systems Inc., the company announced May 6.

Travelex Group, a London-based distributor of foreign-currency reloadable prepaid cards that offer consumers a locked in foreign-exchange rate, has added a text-message alert service to notify cardholders when account funds drop below 100 pounds (US$149 or 117 euros).

MasterCard Worldwide has promoted Ajay Banga, president and chief operating officer, to chief executive officer, effective July 1. Banga also was named a member of MasterCard’s board of directors. Banga succeeds Joseph W. Selander, who will become executive vice chairman until his retirement on Dec. 31. MasterCard also promoted Alfredo Gangotena to chief marketing officer from global products and solution lead for MasterCard in Europe. Gangotena replaces Lawrence Flanagan, who is retiring.

The passage this week of a Vermont bill to let merchants set minimum amounts for card payments (see story) has refocused retailer groups' attention on similar federal proposals.

A consensus is emerging among industry watchers that banks will return to so-called normalized earnings by 2012, with loan losses finally easing to pre-recession levels.

David Leppek has an opportunity that many in the ISO and acquiring business encounter infrequently in their careers. He has the chance to design his ISO, Transaction Services LLC, without having to use years old legacy technology.

Citing a desire to remain competitive and drive issuer participation and innovation in its network, Visa Inc. in April increased the interchange rate it applies to purchases switched through its Interlink PIN-debit electronic funds transfer network.