Payment processing

First Data Corp. announced May 9 it has named Mark Herrington executive vice president of global product management and innovation, and appointed him to the company’s executive committee.

PayPal Inc. could lose a substantial amount of transaction revenue if pending caps on debit interchange are applied to the alternative payments company, an analyst with FBR Capital Markets said in a research note Thursday.

As U.S. Bancorp upgrades its mobile banking offerings, it is also stepping up its use of mobile data business intelligence to target sales and personalize customer service.

Despite a United Kingdom Office of Fair Trading investigation looking into the debit and credit card fees the country’s airlines charge, easyJet Airline Co. Ltd. continues to increase its debit card fees for flight bookings, PaymentsSource has learned.

Visa Inc. plans revisit its incentive agreements with issuing banks after the Federal Reserve Board finalizes its capped rate for debit card interchange this summer, executives for the card brand told analysts May 5 during a conference call to discuss fiscal second-quarter earnings.

U.S. merchants now may process magnetic stripe, e-commerce and EMV chip-and-PIN payments using Yespay International Ltd.’s cross-border payment service, the London-based company announced on May 4.

The National Payments Corp. of India has received permission to expand the scope of its interbank mobile funds-transfer service to include payments, the authority announced May 5.

When it comes to overdraft protection, Bank of America Corp. is learning customers really do want a say in the matter.

Cardtronics said this week TA Associates, the venture fund that financed the creation of the nation’s largest ATM operator, severed its ties with the company after it sold most of its shares, with Michael Wilson, managing director of the Boston investment firm, resigning from the Cardtronics board.

Later this month, the Charlotte company will raise the monthly fee on its MyAccess checking account to $12 from $8.95. Customers can avoid the fee if a direct deposit of at least $250 is made per statement cycle, or an average monthly balance of $1,500 is maintained. Previously, customers could waive the fee by making a direct deposit of any amount.

A new payment card allows users to see their balances right away with the technology they already have — no chips, fancy apps or even bookmarked mobile websites required.

CashEdge Inc. has developed a version of its bank-focused person-to-person payments service for prepaid card companies.

Person-to-person payment is expected to be one of the big next deployments for mobile financial services, and ING Direct is an early adopter of the latest incarnation of the technology, becoming the first major financial institution to enable U.S. customers with iPhones to use them to send money to one another.

NetSpend Holdings Inc.’s first-quarter revenue rose 16% from a year earlier to $80.8 million as the activity on its prepaid debit cards increased and more of its customers began using direct deposit, the company announced May 5.

Helped by a rise in service and data-processing revenue and strong international transaction growth, Visa Inc. on May 5 reported a fiscal second quarter profit of $881 million, up 23.6% from $713 million a year earlier. Net operating revenue increased 14.8%, to $2.25 billion from $1.96 billion.

Michaels Stores Inc. on May 5 began alerting customers that PIN pads at its Chicago-area stores may have been tampered with and that debit and credit card information possibly was compromised.

Hoping to replicate in Latin America the success of a payment card-based loyalty program similar to Canada’s Air Miles, Alliance Data Systems Corp. on May 5 said that its LoyaltyOne unit will play a key role in Banco do Brasil’s recently announced national rollout of Dotz, a broad payment card-based loyalty program.

Mobile users in India now have the ability to purchase tickets to the cricket Indian Premier League and movie theaters using Suvidha Starnet Pvt Ltd’s mobile-payment service.

The Central Bank of Afghanistan on April 25 granted the country’s first Electronic Money Institution license to M-Paisa, the first mobile funds-transfer service to operate in the country.

CHICAGO–A day after the Wall Street Journal reported Isis was changing its business model by working with other established payments organizations, an executive for the organization told a panel here at the Smart Card Alliance’s annual conference nothing had changed.