Payment processing

For all the talk about the upcoming NFC-driven mobile payments revolution at the point of sale, new research from Oracle is throwing some cold water on the hype.

National Credit Union Administration released a study May 4 showing that many small credit unions currently lose money on their debit cards but for most credit unions debit is extremely lucrative.

Visa Inc. is likely to report positive second-quarter earnings Thursday afternoon, an analyst said.

Debit card issuers’ pain could be a gain for some payments processors.

Heartland Payment Systems Inc. is adding merchant accounts and is processing more transactions for its established merchants, thanks to a well-honed sales effort and a healthier economy.

Hoping to reach out to Brazil’s 75 million unbanked consumers, Banco PanAmericano SA, MasterCard Worldwide and Rev Worldwide have launched the country’s first reloadable prepaid card for everyday purchases, the Brazil-based bank announced April 29.

UC Mobile Corp. has entered China’s mobile-payments market in partnership with Alipay, the country’s largest independent online-payment platform based on transaction volume, the company announced April 21.

CHICAGO—At least one industry observer believes increasing contactless-payment adoption could help the United States to migrate to EMV chip-and-PIN technology and eventually to widespread mobile payments.

Strong processing volume among small and midsize merchants and growth in noncard operations contributed to an 13.7% increase in Heartland Payment Systems Inc. first-quarter total revenue, to $467.7 million from $411.2 million during the same period last year. Net income was down 44.4%, to $7.9 million from $14.2 million.

Blackhawk Network is expanding the sale of its prepaid cards to Mexico by putting its Gift Card Mall displays in hundreds of Office Depot and Comercial Mexicana stores.

The payments processor Total System Services Inc. said Tuesday that its board has approved increasing the number of shares it can repurchase under its existing plan to 15 million from 10 million.

WorldPay, the payments processor formerly owned by Royal Bank of Scotland Group PLC, said Tuesday that it has agreed to acquire Envoy Services Ltd., a London company that provides e-commerce payment services.

JPMorgan Chase & Co. has scrapped a test of higher ATM fees it did in two states for noncustomers, a spokesman confirmed on Tuesday.

An increase in transaction volume at its merchants and higher debit network fees from its bank clients helped payments processor First Data Corp. increase its quarterly revenue by 6% from a year earlier to $2.5 billion.

The fraud management provider Memento Inc. announced April 28 that Bremer Financial Corp.’s Bremer Bank has agreed to use its technology.

Brihanmumbai Electricity Supply and Transport Co. soon will enable consumers to pay their electricity bills though their mobiles phones.

Fidelity National Information Services Inc., or FIS, is pushing its debit-processing network to banks and credit unions as they await the outcome of pending caps on debit card interchange fees.

The Federal Reserve Board’s July deadline for capping debit interchange is just around the corner, but MasterCard Worldwide said it does not expect to feel its effects until at least next year.

MasterCard Inc.’s profit leapt 23.5%, to $562 million in the first quarter from $455 million a year earlier, driven in part by a rise in payments. The card brand’s revenue rose 14.5%, to $1.5 billion from $1.31 billion.

MasterCard this morning reported a 23.6% surge in first quarter profits, as the number and dollar amount of debit transactions continued to lead its growth.