Economy

North America may lag behind other countries in mobile-payment availability and use, but the rate of activity here has climbed surprisingly high, new survey data suggest.

Collective Point of Sale Solutions Ltd., a Toronto-based merchant-services provider, is deploying Hypercom Corp. point-of-sale terminals to split and transmit EMV credit and debit card transactions to the least-costly processors, the companies announced July 12.

Shoppers with PIN-debit cards often ask for $20 back in cash when paying at the point of sale, but criminals using fake cards have no qualms about demanding $1,000 or $2,000, risk experts say.

ISOs, agents and processors view the upcoming cap on debit card interchange fees as a golden opportunity to increase margins, boost revenue and gain market share.

Tempo Payments Inc., a pioneer in the decoupled-debit card industry, is winding down its operations as it grapples with Durbin amendment rules it says make its decoupled-debit programs unsustainable. The San Mateo, Calif.-based alternative payments company is notifying cardholders in specific programs about the decision, a process it expects to complete by year end.

ATM maker NCR Corp. is buying hospitality software developer Radiant Systems Inc. for $1.2 billion.

Cashiers now may activate entire packs of cards at once instead of swiping each card individually under a service First Data announced July 11.

Wincor Nixdorf AG is changing its U.S. business model, shifting from a centralized unit based in Austin, Texas, to a more dispersed structure.

The financial-services industry often characterizes mobile-payment systems that mimic the capabilities of Near Field Communication chips as “bridge technology,” but they may turn out to be a bridge to nowhere.

He who controls the terms of a debate often controls its outcome. In the case of debit card fees, it's a she who has had a subtle and powerful influence.

The total value of mobile payments for digital and physical goods as well as for money transfers and Near Field Communication-enabled transactions will grow to $670 billion by 2015, up from $240 billion in 2011, according to a new Juniper Research study.

Nine out of 10 prepaid cardholders describe themselves as “extremely” or “very” satisfied with their prepaid cards, but the industry could do more to keep customers for the long haul, new research suggests.

When Discover Financial Services launched its “Peggy” television commercials late last year, the card brand had no idea the the character would take on a life of its own.

Online and mobile-payments startup Dwolla Corp. is building a payment network called Grid that company executives believe is more secure than MasterCard Worldwide’s and Visa Inc.’s card networks.

The marketplace is beginning to take shape for mobile card readers with the June 29 disclosure that VeriFone Systems Inc. plans to introduce a card-reading accessory for tablet computers this year, one analyst says.

A new social-networking site not only offers independent sales organizations and agents an array of opportunities to boost revenue and earnings, but also controls a pool of cash available to the industry through loans, backers claim.

ISOs can play a role in any merchant cash advances they sell. The opportunity is called co-funding or syndication, and it enables an ISO to fund a portion of the advance–up to 50 % in most cases. The monthly payback percentage becomes an additional income channel.

Mobile-payments startup Square Inc.’s $100 million venture-capital avalanche, which it announced June 29, could mean that the company’s transaction volume is gaining significant momentum despite its lack of profits, one analyst contends.

WASHINGTON — The Federal Reserve Board on Wednesday suggested raising the debit interchange fee cap to 21 cents per transaction but gave banks leeway to charge even more if they meet certain fraud prevention standards.

Intuit Inc. has bought the mobile banking assets of Mobile Money Ventures, a joint venture of Citigroup Inc. and SK Telecom Co. Ltd. it has worked with to develop mobile banking services.