Payment processing

Direct marketing company Vertrue Inc. and its subsidiary Adaptive Marketing LLC have agreed to a settlement stemming from a class-action lawsuit over enrolling debit cardholders in fee-based membership programs.

PayPal Inc. on May 26 said it has been selected as a payout option for third-party developers redeeming Facebook credits, Facebook Inc.’s online currency.

This story was updated from its original version.

Four large Australian banks on May 31 said they have canceled thousands of credit cards following a merchant breach that resulted in the exposure of sensitive card data.

Mopay Inc. on May 25 announced a new platform for mobile payments.

Starbucks Corp. is known for its nonalcoholic beverages, but the success of its mobile payments application has forced it to contend with a bootlegger.

Interswitch, a Nigeria-based operator of an electronic payment transaction switch, plans to expand into the east and west African markets using new investor funds it received earlier this month.

Panoptic Security Inc. is offering to lease or sell complete software packages for Payments Card Industry data security standards compliance, ending the need for payments processors to pay vendors monthly compliance fees for each of their merchants.

After testing Mocapay’s mobile-marketing consumer engagement platform in November, Dazbog Coffee now plans to use it to launch mobile marketing promotions and mobile prepaid gift cards at 21 locations in Colorado and Wyoming, Doug Dwyre, Mocapay president, tells PaymentsSource.

The proverbial battle over mobile payments has turned into a legal one.

The emphasis on broad merchant participation at the outset of development of the Google Wallet sets it apart from certain other initiatives and could be the crucial element in driving consumer adoption, according to at least one smart card industry executive.

Alipay.com Co Ltd, China’s largest online payment service provider by transaction volume, has lost two of its major partners in China, according to reports.

OAK BROOK, Ill.–The Midwest Acquirers Association is forming local chapters to bring together acquiring-industry employers and prospective employees, provide members with payments-industry information, and share tips on selling and promoting payment services.

Google Inc.’s new mobile payment system puts pressure on Isis, the wireless carrier-backed joint venture trying to develop a competing system.

This story was updated from its original version.

The new person-to-person payments company launched by three top banks may not be a PayPal-killer, but experts say the clearXchange venture is a clear threat to the dominant bank-focused payments services.

Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. on Wednesday announced the launch of clearXchange, a person-to-person payments service that will let their customers send money directly to each other using an email address or mobile phone number.

Pasadena, Calif.-based Wescom Central CU said May 25 its Wescom Resources Group has signed with PayPal to offer Person-to-Person payment services to credit unions.

Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. plan to debut a person-to-person payments service on Wednesday that lets customers send money to each other with an email address or mobile phone number, the Wall Street Journal reported Tuesday.

Payroll card providers may be missing an opportunity by failing to reach out enough to small businesses, new survey data suggest.