Cards

Hypercom Corp. has withdrawn its lawsuit filed Sept. 23 against VeriFone Systems Inc. over allegations of violating a confidentiality agreement. The Scottsdale, Ariz.-based terminal maker announced the withdrawal virtually seconds after PaymentsSource reported the lawsuit in a bulletin (see story).

Hypercom Corp. is suing VeriFone Systems Inc. for disclosing its $284 million bid for Hypercom, Bloomberg is reporting.

Trustwave, best known for testing and fixing payment-network vulnerabilities, believes the time is right to also offer a physical security-evaluation service.

U.S. Bancorp is teaming with Monitise PLC to offer mobile-banking services to the bank’s Visa-branded AccelaPay relodable prepaid payroll card.

CurveNorth Inc., a Silverado, Calif.-based company that makes operation-management software for independent sales organizations and acquirers, has added the merchant-screening service from CoreLogic Inc.’s CredCo division to its offerings, CoreLogic says Oct. 5.

National Payments Corp. of India in November reportedly plans to launch a payment system that would enable consumers in that country to transfer funds for free to any account in India held by participating financial institutions using their mobile phones.

NFinanSe Inc. has reached an agreement to sell its Visa- and Discover-branded reloadable prepaid debit cards at Stripes LLC convenience-store locations throughout the southwestern United States, the Tampa, Fla.-based prepaid card provider announced Sept. 6.

VeriFone Systems Inc. said Wednesday that it has begun installing passenger-activated payment and multimedia information systems in taxis in Atlanta.

SecureKey Technologies Inc. has developed a way to turn any computer into a contactless payment terminal, bringing the improved security of contactless payments to e-commerce — without requiring online merchants to do anything to their systems.

An investor advocacy group is searching for Hypercom Corp. investors who feel jilted after the vendor's board last week turned down an unsolicited bid from rival VeriFone Inc. for more than $280 million (see story).

WASHINGTON — When Elizabeth Warren, the top administration official in charge of creating the Consumer Financial Protection Bureau, called last week for simplified, comprehensible credit card disclosures, the industry applauded the goal.

PayPal Inc. is acting more like a bank these days and the addition of a mobile remote-deposit capture feature to its Apple Inc. iPhone application is helping solidify that view, according to one industry observer.

Commuters in the city of Mumbai will have to go through a process of documentation and verification before using their contactless smart cards on the city’s soon to be launched Metro and Monorail service.

One of the biggest banks in New Zealand is pioneering a new purchase scheme that will let Kiwi cardholders convert their small change into substantial savings.

Fairwinds Credit Union has renewed it relationship with the Star electronic funds transfer network and named it the union’s preferred provider of PIN-secured debit point-of-sale and ATM access.

Business Solutions Inc., a subsidiary of the American Bankers Association, is partnering with MasterCard Worldwide and TransCard LLC to launch a program to enable community banks to offer their customers MasterCard-branded prepaid products such as general-purpose reloadable payroll and gift cards.

Growing optimism at this week’s ATM, Debit & Prepaid Forum was apparent among the nearly 800 attendees, a record for the 18th annual event. Yet anxiety also hung in the air as executives representing debit card issuers in particular sought help in securing insight into how the Federal Reserve Board will regulate debit interchange rates next year.

Citigroup Inc. is testing a payment card that lets consumers redeem rewards points at the point of sale, according to Dynamics Inc., which makes the cards.

While the Justice Department's antitrust lawsuit against three major card networks appeared to bolster merchants' case for regulating interchange fees, it may also have undercut a push for legislation targeting the issue.

In theory, retailers just gained significant ground in their fight against payment card fees.