Payment processing

Visa's hiring of former JPMorgan Chase executive Ryan McInerney to be its new president maintains the card network's bond with the top-tier bank.

Square announced expansion into Japan with updated Register features today, after seeing two executives, Alyssa Cutright and Alex Petrov, leave the mobile payments company.

AnywhereCommerce is introducing a card reader about the size of a Zippo lighter that plugs into the audio jacks of mobile devices to accept both magnetic-stripe and chip-and-signature EMV payment cards.

Chase Paymentech Europe, a merchant acquiring and processing subsidiary of JPMorgan Chase, has introduced a new service designed to lighten the security burden for European online merchants.

JPMorgan Chase & Co., the largest U.S. lender, named Barry Sommers chief executive officer of its consumer bank, replacing Ryan McInerney, who's leaving to become president of Visa Inc.

Visa has hired Ryan McInerney to be its president. McInerney, previously the chief executive of JPMorgan Chase's consumer bank, fills a position left vacant since John Partridge retired in March. Visa also appointed Elizabeth Buse and Bill Sheedy to new roles.

As MoneyGram International sits solidly as the world's second-largest money transfer business, its growth strategy is focused on diversifying its product suite and capturing market share that remains untapped by MoneyGram and rival Western Union.

Sprint's Boost Mobile prepaid phone service developed a mobile wallet as a way to provide financial services for its underbanked target audience.

EBay Inc. said PayPal will be available in 2 million retail stores this year as it takes on Square Inc. and Intuit Inc. in the market for mobile payments.

Virtual Piggy is adding merchants in the U.K., setting up its youth money management and ecommerce system at Toy Galaxy and Toadstool companies.

ShopKeep POS designed Surround 360, its iPad point of sale software, to protect independent sales organizations from competitors out to "steal" merchant clients.

ScanPay's card-scanning technology, which allows consumers to enter their card credentials by scanning the card with a phone's camera, was designed to reduce cart abandonment at mobile shopping sites.

Google and Square have entered the notoriously challenging person-to-person payment field, sidestepping one of the major hurdles other companies have faced: signing up new users.

Wal-Mart Stores Inc. and Starbucks Corp. are among 19 retailers opting out of a $7.25 billion antitrust settlement with Visa Inc. and MasterCard Inc. over fees charged to merchants to process credit-card transactions.

Swipely has secured a $12 million Series B round of financing, which will fund its nationwide expansion, the payments and marketing company announced today.

Following the devastating tornado that struck Moore, Okla., organizations involved in the rescue and recovery efforts are relying on mobile payments technology to accept text message-based donations from the public.

Google Checkout, the online payment service launched in 2006 and combined with Google Wallet in 2011, will shut down for good on November 20.

Licensed gun dealers are finding it increasingly hard to accept card-not-present credit card or debit card transactions, but companies such as Tasker Payment Gateways are not gun-shy when it comes to serving the firearms industry.

Many merchants are still wary about accepting bitcoins, but new vendor partnerships and a maturation of the companies that handle bitcoin exchanges address some of the virtual currency's riskier aspects.