Economy

ISOs have a new opportunity to sign up merchants for a low-cost service that helps consumers pay bills, transfer funds internationally, reload prepaid card accounts and buy minutes for their cell phones.

Leave it to ISOs and agents to turn almost anything into a sales opportunity, even the Payment Card Industry data-security standards.

Ignorance may be bliss for some but not for ISO risk managers. ISOs that shoulder financial responsibility for their merchant accounts should gather as much information about their clients as they can, experts agree.

Most ISOs are turning their backs on a whole category of potential card-acceptance accounts, according to a payments-gateway provider.

The Federal Reserve Board’s rule cutting debit card interchange rates approved during summer may have seemed like the final word on the situation, but much remains uncertain.

Of all the errors a manager might commit in a sales meeting, one stands out as absolutely inexcusable, says an acquiring-industry executive.

As Visa Inc. has been ramping up its promotion of one-time-use card data for security, Discover Financial Services is winding down its support of a similar technology.

Visa Inc.’s announcement that old, static PINs will be “eliminated entirely” in favor of dynamic authentication is facing resistance because many are not convinced that the PIN is past its prime.

Merchants frustrated by the complexities of their monthly credit card transaction statements should consider having an analyst review them to avoid overcharges, a payments-processor executive says.

Banks are beginning to ramp up their credit card offerings as part of broader strategies to offset declining debit card revenue resulting from new Federal Reserve debit-interchange rules going into effect Oct. 1, analysts suggest.

Banks are beginning to ramp up their credit card offerings as part of broader strategies to offset declining debit card revenue resulting from new Federal Reserve debit-interchange rules going into effect Oct. 1, analysts suggest.

Steve Jobs' resignation increases the uncertainty over Apple Inc.'s intentions in the payments industry, but Apple's patent filings provide some clues as to where the company may be going.

TransFirst LLC, a company specializing in services that bridge the gap between ISOs and processors, is purchasing an ISO that has been a longtime client.

Can ISOs get into trouble simply by conducting sales meetings? They can if they require–instead of request–that independent agents participate.

Visa Inc.’s announcement that it expects old, static PINs to be “eliminated entirely” in favor of dynamic authentication is facing resistance–in particular because many are not convinced that the PIN is past its prime.

After months of wrangling, the Federal Reserve Board’s decision to cap debit card interchange rates may have seemed like the final word. The reality, however, appears more complex.

A new point-of-sale terminal from Vivotech Inc. capable of accepting Near Field Communication mobile payments and chip-and-PIN transactions could help position U.S. merchants to embrace EMV smart card technology and perhaps save them money on security-standards compliance costs, the vendor believes.

Growing interest in mobile-payment technologies for smartphones appears to be spurring a gold-rush mentality among would-be developers looking to produce the next hit mobile-payment application.

Not surprisingly, many merchants find their monthly account statements for card acceptance almost hopelessly confusing, an executive with the Michigan Retailers Association says.