Payment processing

MasterCard Inc. announced April 27 it has appointed Marcie Verdin as its group head for global person-to-person payments.

MoneyGram International Inc. announced April 28 that its net income rose 30% to $14 million in the first quarter from the same period a year earlier.

It's show time for Fiserv.

WASHINGTON — Sony Corp.'s disclosure that a massive data breach may have let thieves steal the personal information of more than 77 million PlayStation users is playing into the hands of banks attempting to change a Federal Reserve Board proposal to limit debit interchange fees.

Green Dot Corp.’s first-quarter revenue rose 26% year over year to $117.3 million as the prepaid card company saw a jump in the number of new cards it activated for customers.

NCR Corp. reported a profit of $13 million for the first quarter, up from a loss of $19 million a year earlier.

MIAMI BEACH, Fla.-Poor service from a credit card service independent sales organization helped convince James McKelvey to co-found Square Inc., the exec told attendees on April 27 at the 23rd annual Card Forum and Expo co-sponsored by PaymentsSource and the American Banker in Miami Beach, Fla.

WASHINGTON — For consumers, convenience and rewards are the most commonly discussed benefits of near field communication for mobile payments. There is also a substantial security benefit, though banks are reluctant to let consumers know.

Sen. Dick Durbin, D-Ill., is in another sparring session with the American Bankers Association and asks the organization to “cut to the chase” regarding the motivations behind the organization’s criticisms of the interchange reform law that Congress enacted last year.

EBay Inc.’s PayPal Inc. unit during the first quarter March 31 continued to expand its global foot print while its other payment unit, Bill Me Later, became a more mainstream payment method in the U.S. with 42% growth to $324 million from $228 in total payments volume.

Consumers now may purchase and make prepaid funds transfers at various United States-based merchants through an agreement between MoneyGram International Inc. and InComm Inc., Dallas-based MoneyGram announced April 27.

The opportunity to capitalize on the explosive growth in payments as the industry steadily moves to electronic and mobile platforms is attracting many new players and business models, but the winners ultimately will be those who can leverage payments on a massive scale, according to Citigroup Inc.’s top enterprise executive.

Visa Inc. has invested an undisclosed amount of money in Square Inc., the start-up company that lets merchants accept card payments through a small square-shaped device that plugs into smartphones.

Existing payments-industry giants are at risk of becoming obsolete if they do not begin experimenting soon with new payments technologies and finding innovative partnerships to meet the changing marketplace demands, according to Dan Schulman, group president for enterprise growth at American Express Co.

Citigroup Inc.'s Global Transaction Services unit said it has successfully completed cross-certification of an identity authorization process for outside entities working with the federal government.

SunTrust Banks Inc. and MasterCard Inc. April 27 launched an open-loop reloadable prepaid card that doubles as a student ID card.

Amazon.com Inc. has launched its Checkout by Amazon payments service in Germany, the company announced April 27.

The rise of prepaid debit cards is helping payments processor Total System Services Inc., also known as TSYS, expand as it works to grow its payments volume.

Euronet Worldwide Inc.’s cites growth in its Money Transfer segment as driver for its first-quarter earnings results.

Two local retirees in Fowlerville, Mich., say they are fed up with paying ATM surcharges where there is no notice and are traveling the country to withdraw cash at targeted ATMs, then filing suit–five against local credit unions earlier this month.