Payment processing

ORLANDO–Credit and debit sales volumes have been crisscrossing over the past 17 months, but without an obvious explanation.

Electronic payments products are boosting revenue for core providers Fiserv Inc. and Jack Henry & Associates.

Nebo Djurdjevic figures recent developments affecting the cost of doing business in the U.S. payments industry have opened a door for his software company.

Jack Henry & Associates announced strong growth in electronic payments services, which helped it increase revenue and profits for its fiscal third quarter, which ended March 31.

Fleet card provider Wright Express’ execution of a multipronged strategy for revenue growth paid dividends with significant boosts in first-quarter revenues and profit. Investors, however, didn’t seem impressed.

First Data Corp. on May 2 reported a first-quarter loss of $153 million, narrowing from a loss of $217 million a year earlier, as its operating income improved.

Continued transaction-processing growth and an improved capability to process debit card transactions in the United States helped to boost MasterCard Worldwide’s first quarter earnings.

Fiserv Inc. of Brookfield, Wis., reported first-quarter gains in profit and revenue.

First Data Corp. is promoting Dynamic Currency Conversion on two fronts, hoping to place the service with large and small North American retailers.

A security breach that struck Fidelity National Information Services, or FIS, a year ago still has ripple effects on the core platform provider, which reported its first-quarter earnings April 26 (see story).

In its first earnings release as a public company, Vantiv Inc. posted a 23% increase in first quarter net revenue, thanks mainly to merchant services.

Fidelity National Information Services Inc., or FIS, reported April 26 a first-quarter profit of $95.8 million, down less than 0.3% from $96.1 million a year earlier, as corporate expenses climbed.

The U.S. may be facing a migration to EMV chip cards over the next few years, but few issuers or merchants have yet to reach out for assistance, the chairman and CEO of Total System Services Inc., or TSYS, told analysts April 24.

Much speculation unfolded about what the loss Green Dot Corp.’s processing business might do to Total System Services Inc. But the company showed no signs of immediate concern in reporting a modest first quarter increase in revenue April 24.

In the interval before the U.S. broadly adopts the EMV chip card standard or devises more-secure online card-payment technologies, certain vendors are hoping to make some hay.

Total System Services Inc., or TSYS, has come to terms with the Royal Bank of Scotland for a long-term agreement to continue providing payment processing and related services for the bank’s consumer credit and commercial businesses, the Columbus, Ga.-based processor announced April 23.

For Bank of Montreal, the road to rolling out EMV payment cards in the U.S. is already mostly paved.

As banks, card issuers, processors, terminal makers and others involved in electronic transactions are well aware, many new software engineers would rather work for Google Inc. or a hot new start-up than enter the payments or banking industries.

Smaller payment card issuers would provide the strongest data security and enable their customers to shop anywhere in the world by opting to add chip-and-PIN EMV technology to their magnetic stripe cards as the U.S. moves toward full smart card adoption, a new report suggests.

Catalyst Corporate Federal Credit Union filed a preemptive lawsuit in federal court April 19 against a local patent troll that has threatened to sue the $4 billion corporate credit union on behalf of an anonymous patent holder for patent infringement on electronic processing technologies.