Payment processing

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.

Payments-software provider Distra Pty. Ltd. of Sydney, Australia, is hiring a U.S.-based staff and has opened an office in Atlanta, the company announced recently.

With Google Inc.’s Aug. 15 announcement of an agreement to acquire Motorola Mobility Holdings, the search giant potentially has turbocharged its mobile-payment plans.

A venture involving Visa Inc. and health care payments processor 3Pea International Inc. is enabling doctors’ offices and hospitals to provide prepaid cards to patients for use in paying copayments on prescription drugs to encourage repeat prescription refills.

ACI Worldwide Inc. is rolling out an upgraded version of its payments server that will boost security systems and marketing processes for retail clients, including the ability to offer consumers immediate rewards at the point of sale, a company executive says.

An Australian credit union in Illawarra is trying to recover after several hundred members were victimized by a card-skimming operation.

An owner of a new restaurant likely would not hesitate to buy a $300 fire extinguisher to comply with local fire codes, but he might put off spending about half that much to ensure compliance with standards designed to protect customers’ credit card data, a new report suggests.

An owner of a new restaurant likely would not hesitate to buy a $300 fire extinguisher to comply with local fire codes, but he might put off spending about half that much to ensure compliance with standards designed to protect customers’ credit card data, a new report suggests.

Visa Inc.’s new U.S. EMV initiative will have far-reaching consequences for merchants and card issuers, but the other card networks may not follow it exactly in drawing their roadmaps for migrating to advanced chip card technologies, certain observers say.