Payment processing

The now-defunct Kardashian Kard might have put the prepaid debit card industry in a bad position in the few weeks it was available.

China Banking Corp. has launched in the Philippines a mobile version of its online-banking service customers may use to inquire about account balances, transfer funds and pay bills, the Manila-based bank announced Jan. 6.

A bank in the Philippines on Jan. 10 launched a prepaid smart card capable of performing multiple payment functions at ATMs, payment terminals or online.

China’s second-largest mobile-network operator China Unicom has begun offering a contactless mobile-payment service in Beijing.

Tompkins Financial Corp. of Ithaca, N.Y., is one of many financial institutions that have been attacked by the sophisticated malicious software known as Zeus. Now it is fighting back–with sticks.

Five foreign banks in Malaysia have joined the Malaysian Electronic Payment System Sdn. Bhd., more commonly called the MEPS ATM network, network officials announced Dec. 28.

American Express Co. has appointed Toby Eduardo Redshaw executive vice president and chief information officer, replacing Stephen Squeri, who was promoted. Redshaw previously was global chief information officer for Aviva PLC.

Improved revenue growth in the Asia-Pacific region, Canada and the United States provided a welcome fiscal second-quarter boost for Global Payments Inc. But the merchant processor was unable to turn the rise in year-over-year revenue into a concurrent boost in net income, as one-time charges related to a reduction in employees in Canada affected company earnings.

Payroll-services company Payzone will use ACH Federal’s automated clearinghouse processing services to support its small-business customers, ACH Federal announced Jan. 5.

U.S. consumers would be able to use their smartphones to pay, collect and redeem coupons, and price-compare products and services both online and in stores under a partnership deal ARS Interactive and CellPoint Mobile announced Jan. 6.

Fifth Third Processing Solutions LLC will supply funds-transfer and other services to First Cheyenne Federal Credit Union through an agreement the Cincinnati-based processor announced Jan. 6.

Jamaica police reportedly have arrested four men allegedly involved in a credit and debit card fraud ring.

PayPal Inc. weathered last month's Internet attacks better than most of its rivals, but it still has been more outspoken than anyone else about its need for improvement.

Merchant processor Global Payments Inc. on Jan. 6 reported net income of $53.5 million for its fiscal second quarter ended Nov. 30, down 14.8% from $62.8 million during the same period last year. Revenues, however, increased by 8.4%, to $443.5 million from $409 million.

Visa Inc. says it has made upgrades to its Advanced Authorization antifraud system.

Fifth Third Bancorp later this year plans to launch CashEdge Inc.’s Popmoney electronic-payment service, which enables consumers to transfer funds to another person’s bank account through the automated clearinghouse system, the companies announced Jan. 5.

A proposed policy by the European Commission, the European Union’s executive arm, that would hasten migration to a Single Euro Area Payments system also may ban direct debit fees in 2012.

Online payment provider SafetyPay Inc. has inked a deal with the Brazil-based bank Banrisul to enable the bank’s 3 million customers to use its platform to make online purchases from international merchants, the firm announced Jan. 5.

U.S. online sales volume reached a record $32.6 billion during the 2010 holiday shopping season, up 12% from $29.1 million during the corresponding period a year earlier, according to data comScore Inc. released Jan. 5. ComScore’s data reflect e-commerce sales during the period from Nov. 1 to Dec. 31.

India’s banking regulator has extended to Feb. 1 the deadline it had set for banks in the country to add a second layer of security to credit card transactions conducted over mobile phones.