Payment processing

Slyce pictures a day when consumers will be able to buy anything depicted in a TV or printed advertisement — or even a product seen in person — by snapping a photo of it with their mobile device.

MasterCard Inc. will stop using Goldman Sachs Group Inc. for asset-management services after discussing the matter with a firm that advises shareholders on proxy votes.

Airlines and payment companies have not traditionally targeted small businesses for travel rewards, but Chase Paymentech and United Airlines hope that by making business-related purchases easier to manage, small businesses will seek out airline miles programs.

The lack of a standard technology model for mobile point of sale payments is not only holding back consumer adoption, it's also affecting regulatory compliance, says Mphasis' Kumail Tyebjee.

Mobile payments provider Fortumo Ltd. landed a major European carrier-billing deal last week, less than a month after revealing a significant partnership with Microsoft for mobile payment development on Windows phones.

TSYS will provide payment processing for KeyBank's consumer credit card portfolio as part of a long-term agreement announced today.

With a data breach dispute between Visa Inc. and Nashville-based retailer Genesco Inc. heading toward a July 2014 trial, Visa lawyers are asking a federal judge to dismiss some claims in a lawsuit Genesco filed against the card brand.

DataCash, a MasterCard payments processing subsidiary, and Redecard will partner to sell electronic commerce products to merchants in Brazil.

Credit bureaus and payment companies are testing ways to use social media – say, a Facebook Inc. post about a recently purchased Corvette – to verify a person’s identity and even assess consumer creditworthiness.

LevelUp has made constant changes to its mobile-payments technology as it has aggressively spread its system to new consumers and merchants alike. Today, it is in the process of eliminating issues by replacing its older systems and is promoting a white-label app to appeal to more merchants.

CardSpring and VeriFone Systems Inc. allow consumers' credit and debit cards to act as loyalty cards for redeeming digital coupons.

Visa issuers have put 3.5 million chip-based smart cards in the hands of U.S. consumers since the card brand announced its EMV-card migration roadmap in August of 2011, a Visa executive says.

Starbucks attributes the widespread use of its mobile payments app to a "seismic change" in how consumers use mobile phones and social media. The company expects a further surge in adoption as its rewards system expands to grocery stores.

Payleven's EMV-chip mobile card reader has found a spot on Apple Inc.'s retail shelves in Europe and on the company's website.

Total System Services Inc. will continue to process payments for U.K.-based Nationwide Building Society, considered the largest building society in the world based on its assets and 15 million members.

Financial-technology and payments company FIS has named its president and chief operating officer, Gary Norcross, to its board of directors.

Clip, which sells mobile payments technology in Spanish-speaking markets, has developed a mobile card reader.

Wal-Mart Stores Inc. and Amazon.com Inc. joined more than 30 of the biggest U.S. retailers in objecting to a $7.25 billion antitrust settlement with Visa Inc. and MasterCard Inc. over merchant fees, saying the deal is meaningless when card companies can continue to fix the charges.

It's time for banks to do something radical — give up some control of their payments infrastructure by outsourcing processing services in the cloud.

Mike Passilla, JPMorgan Chase's new merchant services boss, didn't take a sledge hammer to the digital payment startups that are chewing away at incumbent payments companies, but his message was clear—Chase is one of the biggest guys on the block, and it plans to use its data and technology heft to win in the merchant acquiring game.