Payment processing

After piloting an online payment network that it says guards against potential identity theft, JetPay LLC will be providing that same platform, Secure Vault Payments, to its own clients.

Michigan State University FCU said yesterday it renewed its contract with Card Services for CUs to process its 86,000 credit and 116,000 signature debit accounts.

Consumers in the northern part of the state of Haryana in India soon may begin paying their electricity bills online, according to Uttar Haryana Bijli Vitran Nigam, a state-owned power utility.

Two major retail chains in Australia recently announced deals to accept contactless cards by the end of this year.

The man who developed the concept for what is now the most popular social-networking website has created a mobile-payments application that relies on facial recognition to confirm a user’s identity at the point of sale.

Bank of America Corp. is planning to issue contactless payment stickers to at least some of its card customers, a source familiar with the plans said.

PIN-debit payments initiated online slowly, but steadily, are gaining traction in the marketplace as several companies have introduced products intended to bring more security to online transactions.

Electronic Payment Systems LLC, a Denver-based independent sales organization, says a federal judge has ruled that it owns a toll-free number now used by approximately 515,000 merchants processing with TSYS Acquiring Solutions.

Blackboard Inc. and PE Systems LLC have formed a partnership to help colleges and universities seeks ways to reduce their costs to accept credit and debit card payments, Washington, D.C.-based Blackboard announced Nov. 15.

Several cases of credit card fraud in the United Arab Emirates have resulted in losses of more than 200,000 dirham (US$54,443 or 39,000 euros), a top police official in the country told a local newspaper recently.

The Federal Reserve's forthcoming regulations on debit interchange may settle a long-running debate over whether fraud costs and risks are high enough to justify banks' current fees.

Scotiabank and the Royal Bank of Canada will be the first Canadian banks to issue the Interac Association’s new contactless EMV chip-and-PIN cards, Interac announced Nov. 16.

Global Payments Inc. on Nov. 18 announced a joint venture with Spain-based bank La Caixa, adding access to more than 150,000 merchants in Spain for the Atlanta-based payment processor.

Chinese banks will replace magnetic stripe cards with smart cards by 2015, according to an official from China UnionPay.

Intrust Bank will use credit card processing, loyalty, merchant processing and other services from Fidelity National Information Services Inc., the Jacksonville, Fla., technology vendor said Wednesday.

VeriFone Systems Inc. is getting a marketing boost for its iPhone payment card reader through a new partnership with the Atlanta processor Elavon.

Near Field Communication will outlast other mobile-payment technologies such as microSD cards and two-dimensional barcodes, observers contacted by PaymentsSource generally agree.

PayPal Inc.’s Oct. 26 announcement that its transactions would be integrated into VeriFone Systems Inc.’s mobile point-of-sale product after Jan. 1 is a clear sign PayPal wants to move beyond e-commerce transactions, observers say (see story).

Thirty-two Rhode Island government organizations will use payment-processing services from Point & Pay LLC integrated into Opal Data Technologies Inc. software, Point & Pay announced Nov. 16.

Mobile-payments provider Zong Inc. has entered the Philippines market through partnership agreements with mobile carriers Globe Telecom Ltd. and Smart Communications Ltd., the U.S.-based company announced Nov. 17.