Payment processing

Visa Inc. is making inroads into the world of third-party software development, bolstering its ability to compete in e-commerce payments.

Almost no part of banking has changed as dramatically in the past year as the credit card industry — OK, maybe mortgages — but cards have faced the triple hit of massive re-regulation, consumer defaults and declining spending. So when 60% of a company's revenue comes from card processing, it goes without saying that the past two years have been challenging. But TSYS has persevered, continuing with its plan to diversify into merchant-acquiring and the community bank market, and holding onto enough cash to make acquisitions if the price is right.

Despite reporting a strong third quarter, American Express Co. remains focused on challenging a U.S. Department of Justice lawsuit over alleged merchant steering and how it might affect the brand’s cardholders.

A cacophony of marketing voices is urging ISOs and acquirers to consider mobile point-of-sale services as a way to grow revenue and potentially reach new merchants.

LAS VEGAS — In their efforts to sign people up for mobile banking, banks can be their own worst enemy.

If Total System Services Inc. were a baseball team, the transaction processor’s third quarter would constitute a rebuilding season.

EBay Inc.’s payment unit, which includes PayPal Inc. and Bill Me Later, continues to gain momentum as it expands its offerings into mobile and contactless payments.

Bank of Lincoln County has selected ACH Federal to provide Web-based and customized automated clearinghouse processing services, according to the Chattanooga, Tenn.-based electronic payments provider.

CashEdge Inc. hopes to help its client banks reach a wider audience through its Popmoney electronic payment service by making it possible to get cash payments.

Jack Henry & Associates Inc. said Tuesday that eight credit unions have agreed to use its banking software platform.

Total System Services Inc., or TSYS, this afternoon reported revenues of $433.2 million for the third quarter ended Sept. 30, up 1% from $428.9 million during the same period last year. Net income fell 10.1%, to $49.7 million from $55.3 million.

Two companies that provide high-speed data connectivity between card terminals and transaction processors announced separate deals this week.

Total System Services Inc. this month announced new and extended payment-processing service agreements with three banks outside the U.S.

Online Resources Corp. has launched a program to offer utility companies a lower-cost card-acceptance option when their customers pay their bills with a Visa-branded card, the financial-services provider reported Oct. 5.

Point-of-sale terminals five years from now may not look much different from today’s devices, but big changes are anticipated for the software running on them, new research suggests.

The association representing independent Little Caesars franchisees has endorsed Heartland Payment Systems Inc. for payroll and transaction-processing services.

Bank of America Corp.’s Global Card Services unit on Oct. 19 reported a net loss of $9.87 billion for the third quarter ended Sept. 30; the issuer reported a $955 million loss during the same period last year. This past quarter’s loss includes a $10.4 billion goodwill-impairment charge that did not exist in 2009’s third quarter.

In rewriting Huntington Bancshares Inc.'s mobile and online banking strategy, Jeff Dennes faces a challenge he didn't have at USAA Federal Savings Bank: a large branch network.

Mitek Systems Inc. is debuting a mobile application that enables consumers to pay their bills using images of the bills captured with their smartphones.

Citigroup Inc. is reporting total revenues from Citi-branded cards of $4.16 billion for the third quarter ended Sept. 30, up 76.3% from $2.36 billion during the same three months last year. Citi card income from continuing operations totaled $454 million, up considerably from $6 million a year earlier.