Payment processing

Young people have a much different relationship with credit, requiring retailers to find different ways to enable financing to encourage larger purchases.

The Automated Clearing House is too expensive and complex to provide faster payments for smaller banks and businesses, claims Dwolla, which contends its open system is a better option for those market segments.

Three large U.K. banks have suffered recent payment glitches, including temporary outages at HSBC, Natwest and Royal Bank of Scotland—suggesting existing bank payment systems are challenged to process digital transactions.

MCX has announced Inmar will be the promotions management and processing vendor for its CurrentC mobile payments system, but it has not revealed the names or number of consumer goods manufacturer participants, a lack of disclosure that analysts say challenges the launch's credibility.

CaixaBank’s is managing smartphone hardware challenges for its new mobile payment app by adopting host card emulation (HCE).

London-based mobile point of sale provider SumUp has received 10 million euros [$11.2 million U.S.] in funding from investors, including American Express, Groupon and BBVA Ventures.

The Debit Network Alliance last week officially launched its shared application identifier (AID) for EMV debit routing, but merchants likely won't be in any rush to implement the technology despite the fast-approaching Oct. 1 liability shift.

Following its massive 2013 data breach, Target vowed to accelerate its EMV-chip card migration, but the retailer still just barely made the card networks' deadline.

Wireless transactions provider Apriva and payment technology services company Global Payments have teamed up to release a white-label EMV mobile payment offering.

Customer loyalty provider Clutch has forged an agreement with POS on Cloud, a point of sale software company, to provide restaurant and retail gift card, loyalty, and customer intelligence for businesses.

As part of the transition to EMV-chip cards in the U.S., some issuers are adding PIN security to cards that used to require only a signature. But as technology advances, the PIN may not provide as much security as consumers believe.

Stripe's quick disruption of the payment processing industry in the U.K. is measurable in at least one simple way — counting clicks.

Point of sale software developer Amber Systems Technologies has integrated EMV-chip card processing into its Vigore POS restaurant management system.

Total System Services (TSYS) has launched a new data analytics tool called TSYS Analytics Intellisuite, which will feature dashboards for real-time data monitoring and analysis of consumer portfolios.

Heartland Payment Systems has certified Digital Dining and its iPad-based point of sale system for its EMV-ready security technologies.

The small merchants that turn to Square for their card acceptance needs are also among the most reluctant to swap out their hardware for devices that can handle EMV-chip cards, so Square is putting into play a strategy that banks have long used to get consumers on board with new technology.

Total System Services (TSYS), the Columbus, Ga.-based payment processor, has hired Patricia A. Watson to be senior executive vice president and chief information officer, effective Sept. 14.

Rather than compete head-on with Square, Intuit is crafting a strategy of providing software that complements Square's offerings for merchants that have more complex needs.

The payment processors Heartland Payment Systems in Princeton, N.J., and VersaPay in Toronto have partnered to sell a cloud-based accounts receivable product.

In the heavily competitive mobile payments market, the fastest way to lose is to pin all hopes on one vendor. Rite Aid learned this lesson the hard way as a participant in the Merchant Customer Exchange, a multi-retailer mobile payments initiative that demanded exclusivity from its partners.