Payment processing

RoyalBank has added Compass Plus’ TranzWare service to support the launch of an in-house transaction-processing center at the bank, the retail banking software provider announced Jan. 25.

A fresh round of Apple Inc. rumors indicates the technology giant will include Near Field Communication in the next versions of its iPhone and iPad. And while the technology continues to stay atop the leaderboard as the payments industry’s ideal mobile-payments method, at least one observer believes barcode technology ultimately will prevail.

Consumers are starting to spend again, which is helping Total System Services Inc., or TSYS, grow its payment card processing services after a tough year during which it lost several clients.

MasterCard Worldwide and Spanish telecommunication company Telefonica SA are starting a joint venture to develop mobile payments services in 12 Latin American countries, the companies announced Jan. 25.

Citigroup Inc. has upgraded its WorldLink Payment Services technology to allow faster settlement of payments made in China’s currency, the renminbi, the New York-based banking company announced Jan. 25.

Despite consumer interest in alternative online payment products, credit cards still dominate the online-payments space. And they likely will continue to do so until merchants promote a broader array of alternative payment methods, according to Javelin Strategy and Research.

Processor Total System Services Inc., or TSYS, this afternoon reported fourth quarter net income of $51.6 million, down 18% from $62.9 million during the same period last year, Revenue was up 1.7%, to $440 million from $432.5 million.

Visa Europe and Wireless Dynamics Inc. are teaming up to offer a mobile contactless-payment service for Apple Inc. iPhone users in the United Kingdom, the card association announced Jan. 25.

The Shazam electronic funds network has made a “strategic investment” in Adaptive Payments, a payment-authentication company that has developed technology that uses any mobile or landline phone to help verify Internet PIN-debit transactions conducted at participating merchant websites.

Several issuers in the United Kingdom and Ireland recently announced plans to issue contactless cards usable at several major merchants. And while one observer says few consumers see the benefit of contactless payment, more European merchants, especially quick-service restaurants, have begun to accept contactless cards.

Fifth Third Processing Solutions LLC has signed up three new processing clients, the Cincinnati-based processor announced Jan. 24.

JPMorgan Chase & Co.’s Chase Bank USA unit does not have to battle a slew of class-action lawsuits alleging it improperly increased credit cardholders’ interest rates, the U.S. Supreme Court ruled Jan. 24.

More consumers late last year chose to spend more when dining out, especially in less expensive restaurants, a new report on fourth quarter restaurant spending suggests.

Safaricom Ltd., the largest mobile operator in Kenya, is working with U.S.-based payments provider PayPal Inc. on a platform to enable consumers to pay school fees directly to institutions’ bank accounts using their mobile phones, the companies announced earlier this month.

ElectraCard Services Pvt. Ltd., a payment processor based in India, is opening its first U.S. office in Omaha, Neb., the unit of Opus Software Solutions Pvt. Ltd. announced Jan. 24.

First Data Corp. has expanded its agreement with Warsaw, Poland-based Getin Noble Bank SA to include card-issuing and payment-processing services for the bank’s contactless card program, First Data announced Jan. 19.

As transaction volume for U.S.-based online merchants increased in 2010, so did the number of fraudulent attempts, which may mean merchants should reexamine their fraud-prevention systems to fend off potential attacks, new research suggests.

SoftBank Mobile Corp. will start a Near Field Communication payment pilot with smartphones powered by Android 2.2 operating system late this quarter, the Tokyo-based subsidiary of Japanese telecommunication operator SoftBank Corp. announced Jan.18.

The Tennessee Department of Labor and Workforce Development has begun offering the state’s unemployed workers the option to receive unemployment benefits either through an account tied to a Visa-branded prepaid debit card or through direct deposit to a traditional bank account.

Neovia Financial PLC’s $50 million acquisition of Montreal-based Optimal Payments will provide Neovia with a “meaningful” presence in North America, the United Kingdom-based merchant processor announced Jan. 20.