Economy

CHICAGO – Speaking at a trade show here this week, a veteran sales trainer described the selling process as four steps: Connect, ask, suggest and move.

PayPal increased its presence in Australian bars, cafes and restaurants today by securing agreements with hospitality technology companies EatNow, OrderMate and Beat the Q.

The Federal Trade Commission's recent lawsuits against two independent sales organizations for alleged violations of the Telemarketing Sales Rule may be the "tip of the iceberg" of regulatory action against the acquiring industry.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

Green Dot Corp.'s GoBank account is being featured on Lifetime's Project Runway.

Innovations from nonbanks will need a platform to provide distribution and the ability to scale quickly. Smart bankers will partner with startups to provide together what neither could do alone.

DeviceFidelity, which has spent years supporting hardware-based mobile payment systems with the likes of Visa and MasterCard, is reporting success in devoting more attention to the software-based aspects of its moneto wallet.

CHICAGO -- The Federal Trade Commission has filed suit against ISOs for alleged violations of the Telemarketing Sales Rule in what may become a trend.

In supporting the Square Wallet as a mobile payment option for its customers, U.S. Bank is taking a step that other financial institutions might view as embracing a competitor.

Banks need to have an open mind when evaluating disruptive mobile technologies and the developers behind them, says Sergi Herrero, the vice president of business development, payments and mobile finance at BNP Paribas and CEO of its L'Atelier North America division.

CHICAGO -- Keeping small merchants safe from data breaches doesn’t have to break the bank, a speaker said here yesterday at Midwest Acquirers Association 11th Annual Conference.

Royal Bank of Canada chose to store data in the cloud, rather than use the mobile phone's secure element, in a mobile payment system it plans to launch this year.

After failing to respond to customer demand and missing tectonic shifts in money transmission and online and mobile payments, banks have an opportunity in the emerging area of cryptographic money.

The Merchant Customer Exchange (MCX) has hired Dekkers Davidson to be its CEO. Davidson was most recently a managing director at Barclaycard US.

CHICAGO -- Above all else,ISOs and agents should make sure their residual payments never end, an attorney told an audience here at the Midwest Acquirers Association 11th Annual Conference.

Three weeks after completing a mobile payment development agreement with China Mobile, the China UnionPay card brand has signed on eight banks to launch a contactless mobile payment system in Shanghai.

After years of government and telco-backed testing of contactless mobile payments in France, a major bank is ready to provide a significant boost to the country's Near Field Communication project.

PayPal and its parent eBay each expect $20 billion in mobile commerce and payment volume this year, eBay CEO John Donahoe says.

Australian startup Pin Payments has acquired billing technology and the global customer base of a U.S. company to continue its push to provide developers with software that handles credit card acceptance online.

Financial Prepaid Services (PFS), a MasterCard prepaid partner, has introduced the SmartPayCard Prepaid MasterCard in Slovenia, the first domestically issued prepaid MasterCard in that country.