Economy

Precidia Technologies Inc., a provider of Internet payment and networking products, has announced that its POSLynx220 with TransNet integrated payment has achieved Level 2 certification from U.S. Bancorp’s Elavon Inc.

Central Payment now requires new members of the sales staff to pass their first training course before signing even a single client.

Oracle is throwing cold water on the supposed impending Near Field Communication-driven mobile payments revolution at the point of sale.

Payment-terminal software applications are poised to play a significant role in Near Field Communication payments.

In a common ATM-theft scenario, a burglary ring steals a pickup truck and crashes through the plate-glass window of a convenience store. Once inside, the thieves loop one end of a chain around the ATM and attach the other end to the truck’s trailer hitch or bumper.

ISOs face fierce competition when they try to woo mainstream merchants into signing up for card services, but the playing field becomes decidedly less crowded for ISOs that focus on specific industries and become experts at supplying what those merchants need, one ISO executive suggests.

With card-processing margins under pressure, many ISOs and agents have begun to regard value-added services as a necessity. But which ones should they sell?

Acculynk Inc. has put its independent sales organization reseller program on the backburner as it focuses on its core business, but at least one observer believes the company’s PaySecure Internet-PIN debit product is still a valuable add-on service for merchant acquirers.

Independent sales organizations and agents should hire lawyers to help draw up contracts and navigate the revenue split from merchant transactions, as such legal advice can help ward off unpleasant surprises, observers agree.

A Woodlands, Texas-based independent sales organization has added a processing platform and is growing into a super ISO with fewer but higher-producing partners, company executives say.

Jeroo Inc. said it is testing a mobile payment technology called Scan&Ship Enterprise.

Finding the right partner has long been one of the most challenging aspects of the payments business for ISOs and sales agents. ISOs tend to look for agents who can be immediate, prolific revenue producers, and agents seek ISO partners who treat them fairly and provide healthy margins and reliable residual payments.

Sales representatives are using LinkedIn, a business-oriented social medium, to generate leads and nurture prospects for TSYS Merchant Solutions LLC, says Diana Mehochko, president of the Columbus, Ga.-based processor.

MerchantService.com has joined the ranks of independent sales organizations using Web videos to promote their services to merchants.

Minnesota’s TCF Bank filed a an expedited appeal request April 14 with the U.S. Court of Appeals for the Eighth Circuit asking the court to overturn a lower court’s ruling and to block the Federal Reserve’s pending implementation of the Durbin amendment’s debit fee caps.

WASHINGTON – A major technology group comprised of some of the biggest corporations shifted its position on the proposed delay in debit rules a week after expressing support for the delay.

The fight over the interchange amendment heated up on Wednesday when Sen. Dick Durbin, D-Ill., sent JPMorgan Chase & Co. Chief Executive Jamie Dimon an open letter defending the provision.

Momentum for the EMV smart card security standard, common in many European countries, grew this week with JPMorgan Chase & Co. and Wells Fargo & Co. announcing plans to start issuing EMV cards to U.S. customers this summer.

For the major card brands, emerging global markets that broadly lack access to financial services likely will represent the greatest earnings potential for mobile-payments initiatives, concludes a report from Macquarie Equities Research Group.

A Malaysian national, arrested in October hours after flying into Kennedy International Airport, pleaded guilty in New York April 13 to hacking into the Federal Reserve’s computer system and to illegally possessing hundreds of thousands of card account numbers and other account information.