Payment processing

The delay some lawmakers are seeking in implementing proposed new debit-interchange rules would represent a “huge handout” to large banks that do not deserve another bailout by consumers and businesses, Sen. Dick Durbin, D-Ill., told reporters March 24 during a teleconference outlining his opposition to a delay.

Union Bank of India Ltd. is partnering with Nokia India Pvt. Ltd. to launch a mobile-based payment service, a spokesperson for the Mumbai-based bank tells PaymentsSource.

Alexandria, Va.-based Pentagon Federal Credit Union said it is providing members with 5% cash back on every gas purchase paid for at the pump and 1% cash back on all other purchases with the use of its PenFed Visa Platinum Cash Rewards Card.

Spotting an opportunity to help hospitals improve patient-payment collection systems and to expand its relationships with commercial customers, Wells Fargo & Co. this month is rolling out an online health care payment product that integrates various functions.

Hewlett-Packard Co. wants it known that its business interests extend beyond personal computers and printers. They also touch the payments industry in a significant way.

Lloyds TSB Bank PLC later this year will begin issuing Visa-branded contactless debit cards to its accountholders within the greater London area, the Scotland-based bank announced March 23.

Payments-software company ACI Worldwide Inc. has acquired payments-software provider ISD Corp. for an undisclosed amount, a move that adds 140 retailers to ACI’s client base, Carolyn Homberger, ACI vice president of programs and operations, tells PaymentsSource.

BankSimple.com has entered into a partnership with TxVia Inc. for processing debit card, online bill payment, and automated clearinghouse transactions, the New York-based companies announced March 22.

Payments industry experts are volunteering to establish best-practice recommendations for integrated payments through ATMs in conjunction with the ATM Integrated Payments Standards Forum organized by the ATM Industry Association’s International Payments Forum, the association announced March 22.

IP Commerce Inc. will use Retail Decision Ltd.’s fraud-prevention service to help small merchants and application developers combat card-not-present fraud, the London-based card-fraud prevention and payment-processing company announced March 22.

WESTON, Fla.–Independent sales organizations, concerned about how proposed new debit-interchange rules may affect their operations, are gearing up for changes in the ISO landscape even as experts say it is too soon to know the shape those changes ultimately might take.

Manchester, N.H.-based Bellwether Community CU has rolled out a new mobile banking service provided by NCR Corp., one of the first credit unions to use the NCR mobile banking solution.

Accertify has launched Accertify Chargeback Service, a comprehensive charge-back management platform designed to help merchants save time, cut operational costs and retain revenue, the transaction-screening services provider announced March 23.

The National Payments Corp. of India later this year will launch a domestic payment card scheme that will compete with China UnionPay, Visa Inc. and MasterCard Worldwide for transaction volume in that country, a spokesperson for the state-owned company tells PaymentsSource.

WESTON, Fla.–Certain details surrounding new Internal Revenue Service rules requiring payment processors and acquirers to track merchants’ transactions and report them to the IRS remain unclear, but help is on the way.

A start-up person-to-person payments network is teaming with a daily-deals service to tie the use of coupons to a customer’s prepaid card.

Diners at Field of Greens and VooDoo BBQ & Grill may receive discount coupons and eventually may pay for purchases through Mobibucks Corp.’s mobile marketing and payment service under a deal Mobibucks announced with the two restaurants March 21.

First Data Corp. is rolling out a mobile-coupon program for merchants called mVoucher that uses 2-D barcodes and text messages, the Atlanta-based processor announced March 22 at the International CTIA Wireless convention in Orlando.

Fifth Third Processing Solutions announced March 21 it will be offering Planet Payment’s Pay in Your Currency service, which will allow international cardholders using eligible cards to see the final amount of a cash withdrawal in their home currency at the time of the transaction.

Allied First Bancorp Inc. of Oswego, Ill., is using technology from VSoft Corp. for remote deposit capture services, the companies announced March 21.