Economy

Michaels Stores Inc.’s potential losses from the debit PIN-pad breach that surfaced in early May continue to mount, as lawyers representing affected customers on May 26 filed another class-action lawsuit seeking damages. The retailer also warned shareholders in a regulatory filing that it cannot estimate its losses related to the incident.

The National Retail Federation launched radio campaigns in several states Tuesday to urge senators to oppose the delay of debit card interchange caps.

U.S. card issuers may one day adopt EMV chip-and-PIN technology, and they also are taking an interest in Near Field Communication technology for mobile payments. But mixing the two technologies may not work, says one industry observer.

Heartland Payment Systems Inc. has introduced a service that it says streamlines payroll data, credit card sales and credit card tip data for restaurateurs at the point of sale.

North American Bancard has introduced a version of its PayAnywhere mobile point-of-sale acceptance service for Android devices, the company announced in a May 26 press release.

OAK BROOK, Ill.–The Midwest Acquirers Association has invited Sen. Richard Durbin, author of controversial legislation that would cap debit card interchange fees, to speak at the group’s annual meeting this July in Oak Brook, Ill.

Google Inc.’s new mobile payment system puts pressure on Isis, the wireless carrier-backed joint venture trying to develop a competing system.

With the unveiling of a mobile wallet this week, Google is making its second try at establishing itself as a major name in payments.

OAK BROOK, Ill.–The Midwest Acquirers Association is forming local chapters to bring together acquiring-industry employers and prospective employees, provide members with payments-industry information, and share tips on selling and promoting payment services.

Wincor Nixdorf AG said it will provide BB&T Corp. with automated teller machines and services for up to 100 locations in North Carolina and Florida.

While the investigation continues into how thieves managed to steal funds from consumers’ debit card accounts by tampering with PIN-pad terminals at 80 outlets of Michaels Stores Inc., payment-security experts say many merchants’ terminals probably remain exposed to similar sophisticated attacks.

Any independent sales organization contemplating a merchant cash-advance business should review the best-practice recommendations of the North American Merchant Advance Association, the group’s president advises.

Two Michigan retirees are continuing to assault the federal courts with suits claiming lack of proper ATM disclosures, filing three more suits in New Mexico last week – all on the same day.

The prepaid card industry has an image problem.

Merchant cash-advance provider RapidAdvance LLC will provide funds to merchants through ISOs associated with Sage Payment Solutions under a deal the companies announced May 17.

While the investigation continues into how thieves managed to steal funds from consumers’ debit card accounts by tampering with PIN-pad terminals at 80 outlets of Michaels Stores Inc., payment-security experts say many merchants’ terminals probably remain exposed to similar sophisticated attacks.

WASHINGTON — Although Senate leaders have confirmed they will allow a floor vote soon on delaying interchange fee restrictions, the timing, outcome and vehicle for suspending the proposed cap are still anyone's guesses.