Cards

Opportunities for new business are arising in Canada’s acquiring market as independent sales organizations work to develop an ISO model there, according to a report released last week by Maynard, Mass.-based Mercator Advisory Group Inc.

MFoundry Inc. has received $18 million in growth capital, the mobile banking technology provider announced Dec. 5.

PhoneFactor Inc. has added a smartphone application to its suite of out-of-band security products, the company announced Dec. 5. But its effectiveness will depend on user participation, one observer contends.

Green Dot Corp. has hired Visa Inc. veteran John MacIlwaine to be its new chief information officer, the prepaid card marketer announced Dec. 5.

An agreement between Vodafone Italia and CartaSi SpA will result in what the companies call one of the first prepaid debit cards in Italy to support both online and contactless in-store payments through a smartphone, Vodafone announced Dec. 1.

Consumers receiving unemployment benefits on a Bank of America Corp. prepaid debit card in California are alerting state officials about a telephone phishing scam intended to elicit personal information.

State-owned banks in India would have to dramatically change their ATMs if they and the central bank approve recommendations to reform the country’s ATM systems.

Dwolla Corp. is celebrating the one-year anniversary of its national rollout by permanently waiving its transaction fee for small-ticket purchases and funds transfers.

The first round of testing ended Nov. 30 for the acquiring industry’s new Certified Payments Professional credential, and at least one candidate found the exam “appropriately difficult.”

When the hassle of managing phone calls for an inside sales team becomes severe enough, independent sales organizations and other businesses often seek the help of a third party.

Fundtech Inc. on Nov. 30 announced the completion of its merger with Bankserv Inc. and, in conjunction, the company discussed plans for a new set of products.

MasterCard Worldwide and mFoundry Inc. are developing an application that will combine mFoundry’s mobile-banking software with MasterCard’s PayPass contactless-chip functionality, the companies announced Dec. 1.

Commuters in Dubai earlier this week became the first in the United Arab Emirates to be able to use one card across public transport systems and for retail purchases at stores, supermarkets and restaurants.

Acquirers representing merchants such as coffee shops and quick-service restaurants may be paying more in interchange for some small-ticket transactions under the Federal Reserve Board’s reduced debit rates than they are for cards exempt from the new rate cap, notes an attorney who frequently deals with clients in the payments industry.

A cybercrook attempting to purchase online products with fake credit cards or under a phony name likely would not be able to hide from a Retail Decisions Ltd. fraud-protection upgrade designed to enable merchants to know where their online shoppers are located, the fraud prevention consulting and payment processing firm announced Nov. 28.

Seamless Distribution AB believes it has developed a mobile-payment method that replaces the need to shop with credit and debit cards, thus saving money for merchants who no longer would have to pay card-related fees, the payments software company announced Nov. 29.

Acculynk Inc. is banking on its relationships with major U.S. retailers to help it secure card-network partnerships in the international market to deploy PaySecure, its Internet PIN-debit product.

Associated Bank in Green Bay, Wis., has agreed to pay $13 million to exit a class-action lawsuit that accuses it and other issuers of processing debit card transactions in a manner that maximized fees from overdrafts.

Processor 99Bill Corp. has entered the cross-border electronic-payments market in China, offering payment-processing services for Chinese merchants that sell their products and services internationally, the Beijing-based company announced Nov. 19.

Transaction processor Vantiv on Nov. 29 introduced its first prepaid program, offering issuers general-purpose reloadable MasterCards.