Payment processing

LAS VEGAS–The number of EMV payment smart cards shipped worldwide passed the 1 billion mark in 2011, the Smart Payment Association announced here March 5 at the inaugural Cartes in North America Expo & Conference.

Plastic cards likely aren’t going away anytime soon, so some card networks and issuers are creating ways to make cards more valuable to consumers, such as by enabling them to provide access to multiple accounts.

Given the relative lack of cash-management innovation for businesses, there’s a burgeoning tech war among payments firms selling automated views of current and future cash positions in an attempt to win white-label partnerships with banks or contracts with new business clients.

More winners and losers are beginning to emerge from new debit card network-routing rules that go into effect April 1.

Credit unions and community banks served by The Members Group now have access to a fraud-prevention tool that adds flexibility for them and a more hassle-free experience for their cardholders.

Overcoming what Euronet Worldwide Inc. executives called regulatory, competitive and economic pressures, the international electronic funds transfer company on Feb. 20 reported strong fourth-quarter transaction growth and revenue increases.

Ongoing economic turmoil in Europe has hit the card networks unevenly so far.

The front-end authorization and capture and the back-end clearing and settlement platforms at Total System Services Inc., or TSYS, are now enabled to process American Express OnePoint transactions, the processor announced Feb. 16.

ACI Worldwide Inc. reported Feb. 14 that income for the fourth-quarter totaled $23.9 million, down 11.8% from a year earlier, as revenue declined.

Gift card exchange firm Plastic Jungle Inc. hopes to boost transaction speed and available options through a partnership with prepaid products marketer InComm Inc.

InComm Inc. has acquired health care benefits services company Medagate Corp., the prepaid card distributor announced Feb. 13.

Dramatic growth in transaction volume fueled by various new partnerships helped Monitise PLC to report significant gains in revenue and a profit for the second half of 2011, the London-based mobile-money services company reported Feb. 13.

Corporate One Federal Credit Union has signed with Fundtech to offer credit unions automated clearinghouse through Fundtech’s CASHplus and PAYplus-ACH payment systems.

Several billion consumers and 35 million merchants worldwide take the enormous convenience and security of branded payment cards for granted.

Nxgen Payment Services will process payments for Veridian Credit Union locations across Iowa, Nxgen announced Feb. 9.

Tinkoff. Credit Systems Bank, of Moscow, has upgraded to the latest version of the TSYS's card and merchant management product, called Prime 4, Total System Services Inc. announced Feb. 9.

Heartland Payment Systems Inc. on Feb. 9 reported a fourth quarter drop in interchange revenue caused by new federal rates for debit card transactions, but the processor still posted a sizable increase in net income.

Propelled by the completion of two international acquisitions and a major processing contract with Royal Dutch Shell’s European unit, fleet card provider Fleetcor Technologies Inc. on Feb. 8 reported sizable gains in fourth quarter revenue and income. The company also anticipates a boost in U.S. revenue this year from a deal with a provider of GPS tracking services.

Continued growth in Wright Express Corp.’s fleet and payroll card businesses and in its operations in North America and Australia helped fuel double-digit fourth-quarter growth for the fleet card company.

Coordinated cyberattacks against financial institutions are not likely to disappear anytime soon, but a recent surge unfolding in Brazil should heighten payments industry security awareness in light of the country’s growing electronic-payments market.