Payment processing

Fiserv Inc. has hired a former H&R Block Inc. official as an executive vice president and its chief operating officer.

Company profits in the payment card industry generally are on track to increase in 2011 if credit and debit card purchase volume continues its post-recession growth. But the fortunes of the four largest card networks may vary significantly in 2011, a new report suggests.

VeriFone Systems Inc. has completed its acquisition of Gemalto N.V.’s point-of-sale terminal business, VeriFone announced Jan. 3.

Ukash is hoping a fraud-prevention service offered by Iovation will help to reduce the potential for improper use of its prepaid voucher service, the Portland, Ore.-based vendor announced Dec. 28.

In a major turnaround in plans, lawmakers in the Australian state of Victoria reportedly have proposed scrapping the Myki transit card system.

PayPal Inc. this year will set up its first foreign currency settlement platform in Chongqing, China, along with five international e-commerce centers under an agreement the unit of eBay Inc. signed with the Chongqing Municipal Government on Dec. 28.

For all the hullabaloo mobile remote-deposit capture generated in 2010, the availability of the service that enables consumers to deposit checks from home using the cameras on their smartphones remains limited to a few banks’ customers.

Mobile banking’s of little use as an innovation if apps can’t ensure the identity of the user, creating a lucrative security market in which Tyfone just scored a pair of patents.

China UnionPay has expanded its global reach by making a substantial entry into Vietnam’s payments market in collaboration with Sacombank Ltd., a spokesperson for the Vietnam bank tells PaymentsSource.

Telecommunication firm Tata Indicom, the brand name of Mumbai-based Tata Teleservices Ltd., has signed a mobile-remittance deal with eSSecom Pvt. Ltd., the company announced Dec.15.

The Central Bank of Nigeria earlier this month reportedly granted its approval to allow FirstBank Nigeria PLC to offer mobile-payment services in the East African country.

The FBI has raided a Dallas server farm that housed computers used to launch Internet attacks against PayPal Inc., according to an affidavit posted by TheSmokingGun.com.

Commuters on the Delhi Metro rail network soon will be able to use their credit, debit and dual-function cards to make payments at the stations for various types of services, a spokesperson for the Delhi Metro Rail Corp. tells PaymentsSource.

Oberthur Technologies and MasterCard Worldwide have launched MasterCard M/Chip Advance, a technology designed to enhance card payments by incorporating more cardholder and third-party data into transactions, the two companies announced Dec. 22.

Getting customers to use their debit cards is increasingly important to community banks. Some are offering rewards points that can be spent at local businesses. Others are paying cash-say, 5 or 10 cents-every time a customer uses the card for a purchase.

Carrefour Group, a France-based retailer with operations in Europe, Asia and South America, has launched its first prepaid card through a bank in Romania, the company announced Dec. 27.

Credit cardholders in India starting Saturday must enter a passcode whenever they make a transaction by phone under new regulations the country’s central bank announced Dec. 24.

The Federal Trade Commission is taking legal action against a massive Internet enterprise that allegedly has made millions of dollars by luring consumers into "trial" memberships for government-grant and money-making schemes, then charging various fees to their credit and debit card numbers.



Network International LLC has entered into a strategic partnership with Abraaj Capital, which announced the deal Dec. 22.

HDFC Bank Ltd. and Jet Airways Ltd. have entered into an agreement that enables the bank’s credit cardholders to pay for tickets on installment, the India-based bank announced Dec. 15.