Payment processing

Visa Inc.'s debit card payment volume declined again during the quarter ended June 30 as a result of a new debit network routing rule, but the worst effects of that trend are over, according to Visa CEO Joe Saunders.

Gary Peterson used to discourage merchants from accepting Discover cards. He resented the card brand because its 800-member sales force competed with his independent sales organization. But those bad old days of the '90s have ended

TSYS' net income rose in the second quarter by 24.4%, to $68 million, from a year earlier as it prepares for a strong pipeline of new accounts.

U.S. Bancorp has begun offering corporate clients the ability to use virtual account numbers to handle travel expenses.

Last year, Citi began processing check and automated clearing house transactions in order from the lowest dollar amount to the highest, a move that minimizes the potential for overdrafts. Today, it wants to make sure consumers — and perhaps regulators — haven't forgotten.

After a long absence, Bank of America Corp. is bringing its U.S. consumer credit card portfolio back to the processor Total System Services Inc.

PayPal's decision to buy its mobile-pay tech partner Card.io sheds light on how the smaller company's technology is shaping the world of mobile payments.

The Durbin amendment in Dodd-Frank eliminated debit-network exclusivity, prompting heightened competition among the electronic funds transfer networks.The NYCE network, which is owned by FIS, already has benefited.

Shopkick's mobile rewards system has relied so far on small devices retailers install at their doors to signal to an app that a customer has visited in person. But for a giant like Macy's, those little devices can add up to a big headache.

PayPal announced July 17 that it has acquired financial technology start-up Card.io.

Declining check volumes slowed second quarter revenue growth for the Payment Solutions unit at Fidelity National Information Systems Inc., or FIS.

In less than six months, MoBank Group has sparked plenty of interest among United Kingdom online retail merchants as they upgrade their websites for mobile commerce.

A group of investors led by Yahoo co-founder Jerry Yang has agreed to invest $4.8 million in a Redwood City, Calif., payments network that lets people use retailers' gift cards to buy goods and services from other merchants.

Western Union Business Solutions now lets universities accept international students' tuition payments and fees in Indian rupees, The Western Union Co. unit announced July 17.

The tom-toms are beating louder for action among issuers, merchants and processors in the U.S. migration to EMV smart card technology.

At first, Google seemed to have all of the necessary ingredients for a mobile wallet and Isis had the uphill climb of convincing banks to agree to a system designed by a group of telcos. Isis now has several top banks firmly behind it, but it faces many challenges as well.

Consumers may not be pushing for stronger card security because they feel overly protected by the systems in use today. But they do face real costs for fraud.

Visa and MasterCard, the biggest payment networks, are prepared to settle a seven-year lawsuit brought by retailers to cut their credit-card costs later this month, three people briefed on the talks said.

Cielo, a payments company based in Brazil, announced July 2 that it is buying a U.S. company, Merchant e-Solutions.

Global Payments is offering Planet Payment's Pay in Your Currency technology to merchants in Canada. Global Payments plans to offer a similar service in the U.S. later this summer.