Payment processing

Punjab & Sind Bank Ltd. has awarded a contract to HCL Infosystems Ltd. to provide smart card technology support for a rural financial-inclusion project, according to a regulatory filing by the state-owned bank.

UniCredit Group has awarded GmbH a three-year contract to supply electronic-payment services for banks in UniCredit’s international banking network, the Germany-based technology provider announced Jan. 17. The contract took effect Jan. 1.

Discover Financial Services' execution of its long-expected "mobile wallet" will define its role in mobile commerce, a future where consumers make contactless payments with their cell phones and receive wireless deals as they enter stores. "Unlike existing mobile technologies that are transactional in nature, the mobile wallet truly facilitates mobile commerce," predicts Gloria Colgan, Discover's svp of emerging payments.

Total System Services Inc., or TSYS, for the first time is extending health care payment services to Puerto Rico through an arrangement with Paytech Corp., a Puerto Rico-based e-commerce transaction processor, the two companies announced Jan. 13.

Fleet card provider and processor Wright Express Corp., which over the past few years has focused on building an international presence, is setting its sights on new regional opportunities, including Latin America, Mike Dubyak, the company’s chairman, president and CEO, tells PaymentsSource.

First Data Corp.’s decision to consolidate its merchant and card-issuer processing operations could help the payments company trim costs and better seize opportunities stemming from pending debit card regulation, analysts said Jan. 13.

Compliance with Payment Card Industry data-security standards is a top concern among smaller merchants, but many remain unaware of the scope of their potential liability regarding data breaches and are unclear on specific requirements, new survey data released Jan. 12 suggest.

WASHINGTON – In a rulemaking process turned upside down, credit unions and community banks exempt from the Federal Reserve Board’s proposal limiting debit card interchange fees are dominating the comment process, while the big institutions coming under the rule have yet to weigh in (see story).

Pitney Bowes Inc., perhaps best known for manufacturing postage-meter machines, has created a free online bill-payment system designed to help consumers not only to receive, view and pay bills, but also to manage other important financial communications.

North American Bancard will use Partner Commerce Inc.’s advertising network to find prospective merchants to help drive account growth, the Troy, Mich.-based independent sales organization announced Jan. 6.

Global Payments Inc. will provide Caesars Entertainment Corp. with a credit and debit card cash advance service, the company announced Jan. 13.

More than half of corporations plan to increase spending this year on payment-security compliance, while the task of educating employees on the proper methods for handling cardholder data remains a pesky challenge, new survey data released Jan. 12 suggest.

Payment-services company Merchant Link LLC and point-of-sale terminal maker Pax Technology Ltd. have signed agreements to use Voltage Security Inc.’s advanced SecureData encryption service, the security technology company announced in separate news releases Jan. 11.

Mobile-banking applications are plentiful and easily available, but new research suggests consumer awareness of them is low despite the buzz surrounding the service.

An online version of US Dataworks Inc.’s Clearingworks payment service is now available to businesses looking to automate many of the nonelectronic payments they receive, the Houston-based company announced Jan. 11.

The Central Bank of Oman has launched a national ATM and point-of-sale PIN-debit switch called OmanNet, an official at the country’s top banking authority tells PaymentsSource.

A limited numbers of Bangkok commuters this spring will begin testing the use of a single, contactless smart card to access the city’s two train networks, an official at the Bangkok Mass Transit System Co. Ltd. tells PaymentsSource.

As payments executives debate which approach to mobile payments will win out, Bank of America Corp. is showing greater commitment to a system based on Visa Inc.’s specifications.

In a management shuffle announced Jan. 11, Obopay Inc. promoted its president to chief executive, and its previous CEO assumed the role of executive chairman.

Mobile payments startup Square Inc. has raised $27.5 million in venture capital, a spokesperson confirmed Jan. 11.