Economy

Juliet posed an eternal question to Romeo: “What’s in a name?”

Global Payments Inc. is trying to offset weak margins on its ISO-driven United States business by building strength abroad, an analyst says. In the short run, that leaves the Atlanta-based merchant processor with strong revenue growth and flat income.

The French terminal maker Ingenico SA said Monday that it is buying Hypercom Corp.'s U.S. payment systems business for $54 million.

Merchant processor Global Payments Inc. on March 31 reported net income of $47.8 million for its fiscal third quarter ended Feb. 28, down 1% from $48.5 million during the same period last year. Revenues, however, increased by 15%, to $456.4 million from $398.5 million.

This article was revised after Vivotech distributed a follow-up press release containing various "corrections."

Global Collect B.V. has signed an agreement to process credit card payments for Royal Jordanian Airlines, the companies announced March 28.

A coalition representing consumers this week is urging lawmakers to oppose legislation that would put the brakes on proposed debit-interchange rate reductions, while a group of 7-Eleven Inc. franchisees similarly is vowing to keep lobbying Congress to oppose such a delay.

Google Inc. is joining the NFC Forum, a nonprofit association that sets technical specifications for how businesses use Near Field Communication technology for payments applications and other services.

Delaying the start of proposed debit-interchange rules would represent a “huge handout” to large banks that do not deserve another bailout by consumers and businesses, Sen. Dick Durbin, D-Ill., told reporters during a teleconference.

Lawmakers’ efforts to pass a “stop-and-study” law that would delay the start of the Durbin amendment are gaining ground, a growing number of analysts say.

Besides making the process easier for merchants, a good payment-security vendor can ease the burden of Payment Card Industry data-security standards compliance for independent sales organizations, a growing number of ISOs are finding.

The Federal Reserve Board’s decision this week to take more time to analyze comments before finalizing its proposed debit-interchange rules could mean the final rules might not take as big a bite out of issuer revenue, some analysts believe.

Citigroup Inc.’s deal to join Syncada could boost momentum for the receivables processing network, which has announced only one other third-party bank participant.

Give up the smoke and mirrors. The time has come for ISOs and agents to bring honesty and transparency to their negotiations on the residual split, industry sources say.

Tap Group subsidiary Tap e-Payment Services (HK) Ltd. will provide electronic funds transfer processing integration services to A.S. Watson stores in Hong Kong and China under a service agreement reached with Sino Payments Inc., the companies announced March 28. Tap Group is a venture partner of Sino Payments.

Barclays PLC continues to dominate the United Kingdom’s contactless-payment market, claiming 88% of the UK’s total base of 12.9 million contactless debit and credit cardholders as of the beginning of the year, according to data the company released March 24.

LexisNexis has launched Retail Fraud Manager, a platform designed to help online merchants detect and combat card-not-present fraud by automating and analyzing the transaction-review process, the company announced March 23.

Litle & Co.’s Web-based merchant clients may begin to protect themselves against card-not-present fraud through CyberSource Corp.’s Decision Manager online fraud-prevention service, CyberSource announced March 23.

WESTON, Fla.–Details remain unclear regarding new Internal Revenue Service rules that require payment processors and acquirers to track merchants’ transactions and report them to the IRS, but help is on the way.

WESTON, Fla.–Independent sales organizations, concerned about how proposed new debit-interchange rules may affect their operations, are gearing up for changes even as experts say they cannot predict the shape those changes ultimately might take.