Payment processing

VeriFone CEO Paul Galant says he is re-organizing the terminal maker's fragmented research and development process and improving its current cost structure in an effort to repair the company.

Target Corp.'s massive holiday-season data breach touched card issuers of all sizes, including banks as small as StonehamBank, which leveraged technology it refers to as a "digital" employee to manage and replace exposed cards.

Payment processor CardConnect is now offering EMV-card acceptance technology from Ingenico.

The banking industry's victory on debit card interchange fees seems likely to be the decisive turn in a high-stakes legal dispute with retailers.

Visa is making its common application identifier available for Discover's Pulse debit network, marking the latest in a string of agreements that pave the way for EMV debit card acceptance in the U.S.

Elavon's clients now have the option to add a customer loyalty program directly into their payment transaction systems, enabling shoppers to redeem rewards any time they make a payment.

A federal appeals court panel ruled today that the existing restrictions on debit card swipe fees should largely stand, turning back a challenge by retailers who argued that banks are still earning too much money from the fees.

NFC mobile wallets had been disregarded by some in the industry as a viable mobile payment option, but they got a boost with the arrival of a technology that will enable the card data to be stored remotely instead of within a phone. This slight change makes NFC mobile wallets increasingly more attractive as it eliminates one of its biggest stumbling blocks to adoption.

The recent security breaches at Nieman Marcus and Target remind us in the payments industry that as criminal efforts to steal cardholder data become more sophisticated, so must the methods we use to prevent these crimes.

TSYS Merchant Solutions, a unit of the payment processor TSYS, is working with Navy Federal Credit Union to offer members of the lender's merchant network the ability to accept credit and debit cards.

Acculynk will provide its payments processing gateway, PayLeap, to customers of cloud-based global e-commerce provider Ecwid.

Fiserv, which owns the Accel debit network, has signed a license agreement with Visa for its common application identifier (AID), following a similar agreement last week between Fiserv and MasterCard.

Online commercial payments service provider Payza says it will provide credit and debit payment services to European Union merchants, with plans to expand to more countries throughout the world.

Fiserv, which operates the Accel debit network, spent two years evaluating the best way to route EMV debit transactions in compliance with federal mandates – but it abstained from working with the Debit Network Alliance, which is committed to the same cause.

Fiserv Inc., which operates the Accel debit network, has agreed to make MasterCard's common application identifier technology available for routing EMV debit transactions.

Contactless card payments are building a fan base in the United Kingdom, where their use has spiked in the past year, but the product is still a long way from replacing magnetic-stripe cards.

Preparing for a Payment Card Industry (PCI) compliance assessment is a major task for any size organization.

EMVCo, the EMV standard governing body has released specifications for payment tokenization, a process that it says will strengthen security on card-not-present transactions initiated by EMV-chip cards.

McDonald's customers throughout Sweden can now pay for their meals with their phone using Seamless' QR code-based mobile wallet, SEQR, from within the McDonald's app.

First Data Corp. has appointed Frank Bisignano as the Atlanta-based company's chairman, adding to his role as chief executive officer.