Payment processing

A new point-of-sale terminal from Vivotech Inc. capable of accepting Near Field Communication mobile payments and chip-and-PIN transactions could help position U.S. merchants to embrace EMV smart card technology and perhaps save them money on security-standards compliance costs, the vendor believes.

A federal appeals court has sided with a United Kingdom-based payments processor in a long-running patent dispute with Visa Inc. subsidiary CyberSource Corp.

S1 Corp.'s board urged shareholders on Aug. 22 to vote in favor of the company's pending merger with Fundtech Ltd. because it says the deal would propel the technology vendors ahead of their competitors for payments software.

Transferring funds from a debit card account issued in the United States to one in Mexico will be a far easier process under an agreement Global Payout Inc. reached with a lending company in Mexico, a Global Payout executive says.

Independent sales organizations, which sell payment card acceptance to merchants, see a big opportunity in Visa Inc.’s decision to accelerate the switch to EMV chip-and-PIN cards in the United States.

Years may pass before some merchants realize any savings from the debit card interchange-fee cap mandated by the Durbin amendment to the Dodd-Frank Act.

Hearing the “click-click” of a train conductor punching small holes in paper tickets soon will become less apparent on the Long Island Rail Road when conductors begin using a smartphone device to accept card payments on the busy New York rail system.

Citigroup Inc. and Bank of America Corp. closed some of their card customers' accounts this week, citing data breaches at unidentified retailers.

A service that lets consumers make electronic payments to online merchants without disclosing their bank account details is expanding into more financial institutions through a deal with the online banking software vendor Jwaala.

Wells Fargo & Co. likely is about to experience a flood of customer complaints as it starts to experiment with debit card fees to offset revenue losses it expects from the Federal Reserve Board’s interchange-rate cut, observes one analyst.

It made headlines in Europe, but this week’s announcement that three major telecommunication companies in Germany have joined forces to bypass supporting banks in handling Mpass mobile-payment transactions is a concept not likely to quickly take hold in other countries, one industry observer says.

Eager to exploit new growth opportunities in a sluggish economy, certain payments-industry technology suppliers already are positioning themselves to capitalize on opportunities Visa Inc.’s U.S. EMV chip card initiative may trigger as participants upgrade systems and equipment, observers say.

The recent turmoil in the financial markets has not yet altered banks’ immediate technology spending plans, Jack Henry & Associates Inc.’s top executive says.

Despite recent upheaval in the financial markets, Jack Henry & Associates Inc. on Aug. 17 reported fiscal fourth-quarter earnings that beat analysts’ estimates and reiterated the payment-technology vendor’s confidence in banks’ spending appetite.

Isis, the telecommunication consortium intent on offering a mobile-payment scheme, is building out a wider range of mobile-wallet capabilities to keep up with its aggressive rival, Google Inc.

S1 Corp. and ACI Worldwide Inc. are each trying to win over shareholders in their ongoing merger feud.

Google Inc.’s Aug. 15 announcement of an agreement to acquire Motorola Mobility Holdings strengthens Google’s position in mobile payments, one observer says.

When Pago Mobile Inc. launched its mobile wallet with 53 merchants in Mountain View, Calif., last week, initial industry reaction focused on the smaller payments-application company venturing into turf more commonly associated with Google Inc. in northern California.

Closing out the tab in a busy restaurant or bar just got easier with the help of a mobile-payments application appropriately called “Tabbedout” from ATX Innovation Inc.

A former waiter at a TGI Friday’s restaurant in Maryland has been indicted on 16 counts of identity theft, theft and conspiracy to commit theft in a credit card skimming scheme that prosecutors say affected 73 individuals.