Payment processing

The Canadian Federation of Independent Business (CFIB) and Mastercard have reached an agreement that will reduce payment card interchange rates for members of Canada’s largest small-business organizations, bringing them on par with large merchants’ rates in the market.

First Data's quest to be viewed as a diverse digital company means it can't just offer a product; it has to offer a platform that other companies can use.

The technology can help to speed processing, and the number of banks investing in the technology is expanding rapidly.

As American Express and Citigroup clashed over which issuer would get the coveted Costco Warehouse credit card business, one area remained undisputed and out of their hands: Payment processing for Costco's small business clients.

Sri Lanka-based Bank of Ceylon (BOC) is expanding its relationship with Mastercard by adopting Mastercard Integrated, a configurable payments processing platform introduced last year in Asia enabling card issuers and acquirers to tailor the features of a broad range of payment products.

Private equity firm TA Associates has backed Retriever Medical Dental Payments Inc., a payments technology provider for large healthcare providers, with a minority investment.

The Delaware company is also close to completing a compliance program to address anti-money-laundering and Bank Secrecy Act issues.

The scenario where someone uses a check's "float" to purchase something before they have the funds is still more common than many people think, according to the founders of Float, a startup that sends emergency "credit" to a consumer's debit card.

The company already has a domestic market for transfers and other payment services, and is looking to serve the international needs of that audience.

ModoPayments is fresh off a string of new customer implementations with COIN, its payment "hub" approach for merchants and banks, and it's already looking ahead to bigger prospects with the emerging Internet of Things (IoT).