Payment processing

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.

MoneyGram International said April 26 that it will soon introduce a cash-to-account transfer service in the Philippines.

Western Union Co. reported that its net income rose 1% to $210 million in the first quarter from the same period a year earlier.

There are more indications that card data was obtained by fraudsters after the data breach at Sony Corp.’s PlayStation Network.

USA Technologies Inc., a payments-service provider to vending machine operators, is aiming to get more merchants connected to its services through a partnership with Verizon Wireless.

Sony Computer Entertainment America LLC has warned its video-game console users that their credit card information might have been compromised in a recent security breach that has affected the PlayStation 3’s online network as well as the company’s streaming music and video service.

Improving economic conditions and organic growth helped processor Total System Services Inc., or TSYS, on April 26 to report a 3.8% rise in first quarter revenue, to $429.4 million from $413.5 million during the same period last year. Net income was $49.4 million, down 4.6% from $51.8 million.

A sign that international travel regained some of the momentum lost during the recession, new data from Visa Inc. show that travelers going to and from the U.S. boosted their spending significantly last year.

Two Russian immigrants on April 20 were charged in Fayetteville, N.C., with skimming credit and debit card data from members at four credit unions at three local ATMs.

WASHINGTON — While the banking industry clearly has momentum on its side in the fight to delay a rule that would limit debit interchange fees, time for Congress to act is rapidly running out.