Technology

Ohio Attorney General Richard Cordray is warning consumers that financial scams are on the rise in the state.

First Data Corp. executives say the company has no plans for an initial public offering — but its choice of a chief executive seems to say otherwise.

A mobile payments business model Citigroup Inc. tested in India has proven a hit among all the key players, even wireless carriers.

Michael Capellas, chairman and CEO of First Data Corp., is leaving the Atlanta-based payment processor to work as a senior advisor at Kohlberg Kravis Roberts & Co., the investment group that bought the transaction processor in 2007.

Visa Inc. is looking outside the U.S. for growth and hopes to derive more than half of its revenues from international markets within the next five years, executives from the card company today told investors gathered in San Francisco for its annual Investor Day presentation.

Tio Networks, which today announced the planned launch of a mobile bill-payment platform, estimates it will generate 20% of its revenue from the service by 2011, according to the Burnaby, British Columbia-based expedited bill-payment processor.

Target Corp. has begun delivering coupons to customers' mobile phones.

China Mobile plans to purchase a 20% stake in Shanghai Pudong Development Bank for 39.8 billion yuan (US$5.7 billion or 4.2 billion euros) as part of its plans to develop a mobile-payment system in the country, China Mobile announced on March 10.

Heartland Payments Systems Inc. has signed Martin Eagle Oil Co. Inc. as the first customer for the processor’s SmartLink consolidated-network technology, Princeton, N.J.-based Heartland announced this week.

Nxgen International is opening operations in the United Kingdom and Italy as part of a European expansion strategy the Whitefish, Mont.-based merchant-service provider announced last week. Diversifying geographically can help Nxgen grow and differentiate itself further, says Giuseppe Caltabiano, Nxgen president.