Payment processing

The Merchant Customer Exchange is facing harsh scrutiny after some of its merchants shut off all Near Field Communication capabilities to show allegiance with the merchant mobile wallet over Apple Pay.

Apple Pay was supposed to deliver a victory blow for Near Field Communication payments, but its launch seems to be doing as much damage as good for the cause of NFC.

Poynt Co., a startup headed by former Google and PayPal executive Osama Bedier, is looking to take advantage of the EMV hardware upgrade schedule to entice merchants to switch to its new app-based payment terminal.

Total System Services is close to beginning tests of new products and merchant services, and is already seeing a benefit from last week's launch of Apple Pay. But in prepaid, a significant business for the processor, TSYS is still awaiting new rules from the government.

A number of large retailers are pushing back against Apple Pay, making clear the power merchants wield in the developing mobile payments market.

InComm is adding add over 15,000 locations to its Vanilla Reload network, which allows prepaid card users to reload their general-purpose reloadable card accounts by swiping the card at the point of sale.

Apple Pay has launched to considerable buzz, but the technology giant has done little to communicate where its new mobile wallet can be used, leaving its partners to fill the void.

Private equity firm LLR Partners acquired a stake in Phreesia Payment Services as part of a $30 million investment.

As the iPhone 6 makes its way into the hands of consumers, the way we pay may be changed forever.

U.S. Bank has been trying to get iPhones to make contactless payments for a long time, but most of its efforts didn't pan out. The launch of Apple Pay and the rapid advancement of mobile technology may breathe some new life into the bank's old ideas.

Online art marketplace Etsy is offering a mobile card reader, Sell on Etsy Reader, to its sellers for free, allowing them to transact in-person.

Bank of America was quick to address an early issue with double-charging Apple Pay users, but the damage to consumers' perception of mobile payment technology may prove to be longer-lasting if more glitches occur.

Scattered reports of double payments and failed transactions have begun to bubble to the surface after what initially looked like a relatively smooth introduction of Apple Pay.

PHOENIX – Even though Apple has more than 500 banks lined up to support Apple Pay, including heavyweights like Bank of America and JPMorgan Chase, some bank executives are taking a decidedly defensive stance.

Transactions have long been free for consumers, but Ashe Pay is betting that consumers are willing to pay a $1 monthly fee to be part of a network that allows instant payments to vetted merchants.

PHOENIX – BBVA has had success in several markets with mobile wallets that blend Near Field Communication (NFC), loyalty and other technologies. But this week's launch of Apple Pay is challenging the bank to ensure its card app remains relevant.

A big part of the EMV migration is awkward for restaurants in the U.S., but Apple Pay may ease the discomfort, said Harbortouch CEO Jared Isaacman.

Barry McCarthy has a number of new jobs First Data, giving him a wide view of the pressures facing payment processors in a world where massive volumes of plastic card swipes are no longer enough to ward off the competition.

The White House is slated to unveil a major package of initiatives on Friday to increase data security for financial transactions, including an executive order to add chip-and-PIN technology to government-issued credit and debit cards.

A third of the veteran-owned businesses certified with the Veterans Administration are already First Data clients, and the processor is working to win over the other two-thirds.