Technology

Thieves stole an undisclosed number of PIN pads from Hancock Fabrics Inc. stores, replacing them with counterfeit terminals that illegally captured customer card data. Store officials disclosed the thefts from an undisclosed number of its 264 stores in 37 states earlier this month. Executives believe the thefts occurred in August and September last year.

Fifth Third Processing Solutions LLC later this year will roll out an advanced payment-data encryption technology platform for its merchant clients developed in conjunction with Voltage Security Inc., the processor said on Thursday.

TransUnion reported that during the fourth quarter of 2009 its Credit Risk Index (CRI) indicated that risk conditions in the U.S. are beginning to moderate. The CRI is a statistic developed to measure the changes in average consumer credit risk within various geographies across the nation.

Citigroup Inc. is learning many consumers today do not share its enthusiasm for mobile payments.

From the March 2010 issue of ISO&Agent.

PayPal's new iPhone application is more than a payment system — the company is also trying to make it easier for people to use the app as a cash replacement.

Chase Paymentech LLC this week announced plans to extend its offer of fraud-detection services for card-not-present transactions to all of its merchant customers later this year. The Dallas-based processor will integrate Kount Inc.’s fraud-detection services so merchants of all sizes may use them without requiring a separate contract with Boise, Idaho-based Kount.

MasterCard Worldwide for years has offered ATM Hunter only on its Web site, but interest in the ATM-finder service skyrocketed when the card brand made it available for smartphones, says Cheryl Guerin, MasterCard senior vice president, U.S. and digital marketing.

USA Technologies Inc. said Thursday that more than 71,000 vending machines and other self-serve systems are now linked to its payments network.

MoneyGram International Inc. said Thursday it has hired Juan Agualimpia as a senior vice president and its chief marketing officer to oversee the company's global branding and marketing efforts.