Payment processing

Yespay International Ltd. has released its application programming interface specifications that merchants may use to integrate Yespay’s mobile-based services into their point-of-sale systems, the London-based payment-services provider announced on March 11.

WASHINGTON – Visa and MasterCard are telling their credit union and bank owners the uncertainty they will face over litigation costs for a pending antitrust case over the networks’ anti-steering provisions will continue indefinitely, even as the controversy escalates over the Federal Reserve’s proposed rules on debit fees.

Apple Inc. may not be building a contactless payment capability into its next iPhone.

TCF Financial Corp.'s William Cooper is rethinking his long-held belief that economies of scale don't matter in banking.

China UnionPay has signed an acceptance agreement with US-based Citibank that will see UnionPay cards being accepted in seven other Asian nations, a spokesperson for China’s bankcard association confirms PaymentsSource.

A stock analyst on March 11 upgraded shares of Green Dot Corp., contending recent concerns over the prepaid card company’s regulatory risks are overblown.

Seven Bank Ltd. has signed an agreement with U.S.-based The Western Union Co. to offer Western Union’s funds-transfer services in Japan.

WASHINGTON – Senator Dick Durbin insisted yesterday he will fight every effort to delay the pending implementation of his initiative to lower interchange fees paid to credit unions and banks.

WASHINGTON — In a rare show of unity, the leading bank and credit union industry groups filed a joint friend-of-the-court brief on Friday to support TCF Financial Corp.'s lawsuit against implementation of a rule that would limit interchange fees on debit cards.

Chase Paymentech will offer processing services to General Motors Co. dealerships through a pact with Aspen Marketing Services, the unit of JPMorgan Chase & Co. announced March 11.

WASHINGTON — Bankers and other financial executives continued their full-court press to delay pending restrictions on debit interchange fees, even as lawmakers prepared to move forward on plans to delay the new requirements.

As the health care industry eyes new systems to streamline and improve the collection of payments from patients, New York-based Phreesia Inc. is promoting a tablet-like device that records patients’ personal and insurance information and doubles as a card-payment terminal.

A year after testing mobile capabilities with its customers, Wow Bao, an Asian restaurant with three Chicago locations, is planning to launch a mobile gift card program with Mocapay Inc. by the end of April, PaymentsSource has learned.

Sage Payment Solutions Inc., the payments division for Sage North America, has enhanced its virtual payment terminal to help small merchants better manage their payment process, the company announced March 8.

ORLANDO, Fla.–Social-network participation is approaching 1 billion consumers globally across such different platforms as Facebook, Twitter and Foursquare. But prepaid industry executives and merchants are split about how the medium could improve closed-loop gift card sales.

DimpleDough Inc. is partnering with TxVia Inc. to provide TxVia with a prepaid-management service it can offer its customers, DimpleDough announced March 8.

CHS Inc., a diversified energy, grains and food company, plans to use Comdata Corp.’s Smart Solutions point-of-sale systems at its 1,400 convenience stores nationwide that operate under the Cenex brand, the companies announced March 10.

WASHINGTON – U.S. Public Interest Group, the leading consumer lobby in Congress, called on the Fed to maintain course and reduce fees on debit transactions while opening the cards market to greater competition.

Tanla Solutions Ltd. has launched a set of programming tools to allow micropayments within smartphone applications.

VeriFone Systems Inc. is taking off its gloves in the battle for mobile payment acceptance, claiming rival Square Inc.'s device can be adapted to use for fraud.