Payment processing

GoCardless is using a link to Sage's accounting software to improve the experience of automating business-to-business payments in a market that typically lags the consumer payments market.

Financial institutions with at least $10 billion in assets knew they would take a hit to their revenue when the Durbin amendment capped interchange pricing. But smaller issuers, who were exempt from the cap, have seen a drop as well.

The Merchant Customer Exchange (MCX), a mobile payments initiative created by major retailers, will use technology from FIS to speed processing and provide access to accounts at a large range of financial institutions.

The payment processor Global Payments Inc. will offer its U.S. merchant customers an iPad point of sale system from ShopKeep POS.

The next big idea for payments is ready to spring to life, and MasterCard wants to be there when it happens.

As EMV-chip card use spreads at the point of sale in the U.S., online merchants will have to change the way they handle payments online.

The prepaid card market must undergo significant consolidation in the future because more prepaid card processors exist than are needed to serve the prepaid issuers and program managers in the U.S., new Aite Group research finds.

Mobile transaction technology provider C-Sam has hired former Citigroup executive Kurt Weiss as managing director of global financial institutions and mPayy founder Conrad Sheehan to be general manager of strategic initiatives.

Merchant payment and marketing company Punchey has hired Michael Sattler to be vice president of engineering and Rick Graham as director of demand generation.

The major card brands have certified payment processor Total System Services Inc. for EMV chip-card processing.

By July 2008, when Apple introduced the app store as part of the new iPhone 3G, the idea of mobile payments had largely flopped. The app store gave payments companies a second chance at creating the mobile wallet — but many still stumbled along the way.

Visa has entered agreements with more than 40 Australian banks to offer customers the V.me digital wallet for online shopping — a mere three months after MasterCard debuted its MasterPass digital wallet in Australia.

Banks and payment networks are pressing state lawmakers to bar retailers from charging customers more to pay with credit cards than with debit cards or cash.

BBVA Ventures, the corporate venture arm of BBVA Group, is investing in SumUp, a company that enables mobile devices to accept card payments.

CloudPassage, a cloud infrastructure security provider, is offering to address Payment Card Industry security standard compliance for cloud-based businesses.

Ferhan Patel has become the chief compliance officer for Payza, an online payments and electronic wallet provider.

First Data Corp., led by former JPMorgan Chase & Co. co-Chief Operating Officer Frank Bisignano, hired the New York-based bank’s former Chief Information Officer Guy Chiarello as president.

One Hour Translation, which touts its expertise at translating documents from over 70 languages, is no expert at translating payments across different currencies. For that, it needed help from BlueSnap.

Mobile payment processor Net Element International Inc. has agreed to acquire European payment network and terminal provider Quickpay in a move to gain traction in Russian cash-based markets.

Six banks in Poland have created a joint venture to develop common mobile payment standards to comply with national regulations — a move that leaves card networks out of the equation.