Economy

Independent sales organizations are using value-added services as profit centers, differentiators, or both, observers say.

First American Payment Systems LP has appointed Alan Struble as executive vice president and general counsel, the company announced April 5.

Independent sales organizations are using value-added services as profit centers, differentiators, or both, observers say.

Retirement suited Larry Petru, but going back to work in the acquiring business suits him even better. As soon as his two-year noncompete clause expired this year, Petru, 65, started another independent sales organization.

Where do ISOs look when they want to hire sales agents from outside the acquiring industry? Just about everywhere.

In response to increasing ATM thefts and rising insurance rates, Cash Connect has published a best-practices guide for armored cash carriers.

Independent sales organizations are using social media, including Twitter and Facebook, to communicate daily with their agents, observers say. In their “tweets” and other messages, they share information on new products, contests and sales results.

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.