Payment processing

JPMorgan Chase & Co. is teaming up with the image-capture vendor Mitek Systems Inc. to develop new applications for smartphones.

Some Bank of America Corp. customers saw other people's transaction details through online banking, a report said, but the company insisted that no fraudulent activity resulted.

Monitise PLC more than tripled its revenue during the six months ended Dec. 31 compared with the same period a year earlier as the mobile-payments company worked to expand its customer base.

VeriFone Systems Inc. is taking its PayWare Mobile point-of-sale service outside the United States for the first time and is adding acceptance for EMV chip-and-PIN cards and Near Field Communication-enabled devices, the company announced Feb. 14 at Mobile World Congress in Spain.

As European and Chinese payment card issuers steadily move to support EMV-only cards that lack a magnetic stripe to conduct transactions, global competitive pressure may force the U.S. to adopt EMV chip-and-PIN technology, a top exec from a major international card manufacturer contends.

Consumers interested in contactless payment say they find the process easy and fast to use, according to research from Javelin Strategy & Research.

Consumers interested in contactless payment say they find the process easy and fast to use, according to research from Javelin Strategy & Research.

Consumer adoption likely will determine whether First Data Corp.’s decision to support Acculynk Inc.’s PaySecure Internet PIN-debit product benefits the processor’s merchant partners that decide to offer the online checkout payment option, observers say.

ICICI Bank Ltd. has become the first bank in India to offer its debit cardholders the ability withdraw cash from their accounts in excess of the purchase amount at the point of sale, an official from the Mumbai-based bank confirms to PaymentsSource.

Banks are still debating the use of two-factor authentication for account access, even though hackers are getting more cunning and the tech bellwether Google Inc. just endorsed the extra layer of security.

Green Dot Corp. and banks probably could use each other’s help more than ever.

Until a few years ago, payment card processors and merchant acquirers found it relatively easy to incorporate biannual April and October updates of interchange-rate tables and other mandates from the payment networks into their systems.

The U.S. is closer to EMV readiness than many realize, and it may not cost as much as previously feared, suggests a newly crafted “roadmap” to U.S. adoption of EMV chip-and-PIN technology.

Global Payments Inc. has promoted James R. Hicks to president of its Global Payments Asia Pacific Ltd. unit, where he will oversee the merchant processor’s payment operations in 11 Asian countries, the Atlanta-based company announced Feb. 11.

Cineplex Entertainment, which supports 132 theaters in Canada serving more than 70 million visitors each year, is giving consumers the option to pay for tickets from their PayPal account, the Toronto-based company announced Feb. 11.

MasterCard Worldwide launched a beta version of its developer’s portal early last month, but the card brand has invited only about 1,000 programmers to participate, a MasterCard spokesperson said Feb. 10.

Several credit unions have agreed to offer Bluepoint Solutions’ mobile check-depositing technology to their customers, the vendor announced Feb. 10.

Cardtronics Inc. generated a 371% increase in profits, to $8 million for the fourth quarter from $1.7 million during the same period a year earlier, driven by growing revenue and higher margins, the company announced Feb. 10.

PayPal Inc. is pushing to expand use of mobile-wallet services as it stakes out its turf in the mobile-payments market, executives said Feb. 10 during a presentation at parent eBay Inc.’s analyst and investors day.

Vendors often tout their products in press releases and through other efforts seeking publicity. But sometimes they choose to keep things relatively low key.