Payment processing

Because of multiple errors found in many European business’ domestic and cross-border payment data, a migration to a Single Euro Payments Area may prove to be costly as faulty data may accrue fees under the SEPA system, a new research report from Experian Payments suggests.

Green Dot Corp.’s revenue rose 36.1% during third quarter, driven by a sharp increase in the consumer activation of its prepaid cards, the company reported Nov. 3.

Cash Access Holdings Inc. on Nov. 3 reported net income of $4.9 million for the third quarter ended Sept. 30, down 39.5% from $8.1 million during the same period last year. Revenues fell 7.4%, to $152.1 million from $164.3 million.

Heartland Payments Systems Inc. posted a $7.5 million third-quarter profit that reversed a $37.1 million loss a year earlier attributable to a $35.6 million charge to cover costs related to a data breach, but at least one analyst was not impressed.

Cardtronics Inc. is crediting its Allpoint surcharge-free ATM network for the company’s recent rise in profitability.

Jack Henry & Associates Inc. and its competitors say there is high interest in offering new consumer technologies such as mobile remote deposit capture and mobile banking in general.

BMI Bank on Nov. 1 launched a suite of antifraud and other credit card security features, the Bahrain-based bank noted in a statement.

Jack Henry & Associates reported a 29% surge in revenues for its fiscal first quarter, boosting net income by 21%.

Merchant processor Heartland Payment Systems on Nov. 3 reported total revenue of $499.1 million for the third quarter ended Sept. 30, up 12.8% from $442.6 million during the same period last year. Net income was $7.6 million; the company reported a $37.1 million loss a year earlier attributable to a $35.6 million charge to cover costs related to a data breach (see story).

The Federal Reserve expects to turn a profit on its check processing operations for a second consecutive year in 2011 as the proportion of payments cleared electronically continues to increase.

Clients of the Chickasaw Nation Women, Infants and Children Supplemental Nutrition Program, known as WIC, now may use an electronic benefits transfer debit card for qualified food purchases under an initiative Chickasaw Nation Ardmore (Okla.) Nutrition Services launched Oct. 25.

The outcome of Tuesday’s Election Day results could have meaningful implications for the card industry, including affecting the odds of credit card interchange legislation emerging next year, analysts at New York-based equity firm Keefe, Bruyette & Woods said in a report released Monday.

VeriFone Systems Inc. says its PayWare Merchant managed service for large retailers, petroleum marketers and hospitality companies is now available in Europe.

Western Union Co. is rebranding Custom House, an international business-payments provider it bought last year, and is planning to expand the unit into new markets, the funds-transfer company announced Nov. 1.

TCL Corp., a China-based mobile-phone manufacturer, has inked a deal with China UnionPay in which the companies will provide mobile handsets that support payment functions, the companies announced earlier this month.

AT&T Inc. has signed partnership agreements with three mobile-payment companies that enable its wireless customers to charge online purchases for such digital content as games and music directly to their mobile-phone bills.

MBNA Europe Bank Ltd. will be issuing some 5 million contactless credit cards to its customers in the United Kingdom as part of a two-year initiative the Bank of America Corp. subsidiary announced on Oct. 29.

Apple Inc.’s MFi licensing program for devices designed to work with mobile Apple products has certified Blue Bamboo’s P25-M mobile printer and card reader, the China-based point-of-sale terminal maker announced Oct. 29.

Fifth Third Processing Solutions has signed processing deals with four Hawaii credit unions: Hawaiian Tel Federal Credit Union, Windward Community Federal Credit Union, The Queen's FCU and Garden Island Federal Credit Union.

Visa Inc. said it is prepared to confront alternative and mobile payments head on.