Payment processing

Online Resources Corp. said it has signed up more than 40 utilities for its bill payment services in the past six months.

Certain definitions within new Internal Revenue Service rules requiring payment processors and merchant acquirers to track merchants’ transactions and report them to the IRS beginning next year are creating additional hassles, some industry observers say.

Mitek Systems Inc. on Aug. 18 announced it has received a patent from the United States Patent and Trademark Office for its mobile remote-deposit capture application.

The city government of Hong Kong recently ordered officials for Octopus Cards Ltd to cooperate with an investigation surrounding the inappropriate sharing of customer data related to a rewards program for mass-transit fare-payment cards, according to local media reports.

Legions of potential investors want to buy a piece of the merchant-acquiring business, but most independent sales organizations would prefer not to sell. Both camps appear to believe the industry represents a safe haven in hard times and promising opportunities during a recovery.

Acculynk Inc. Aug. 17 announced that the NetWorks Inc. electronic funds transfer network would support the company’s Internet PIN-debit payment service.

Using a payments technology company's transaction gateway service, some merchants and product makers are creating promotions that can be tied to such details as an item's stock-keeping unit or serial number.

Fidelity National Information Services Inc. announced Friday that its Brazilian joint venture with Banco Bradesco SA has entered a 10-year deal to provide processing and other services for the banking company.

The Internal Revenue Service on Aug. 13 released its rules for how acquirers and processors should report their merchants’ credit, debit and gift card transactions to the agency beginning next year.

A point-of-sale breach disclosed this week at an Austin, Texas, restaurant only affects that restaurant, says Heartland Payment Systems Inc., the restaurant’s payment processor.

Hoping to build on its solid foundation in Europe and Latin America, SafetyPay Inc. this month announced plans to test its online payment platform in the U.S. through a retail pilot program.

USA Technologies Inc. recently announced that the number of vending machines equipped with its wireless ePort Connect Service technology enabling credit and debit card acceptance has increased 58% within the past year and is on track to hit 100,000 by yearend.

The newest updates to the PCI Data Security Standard and the Payment Application Data Security Standard consist mostly of clarifications and additional guidance, says Bob Russo, general manager of the Payment Card Industry Security Standards Council that oversees the standards.

A unique merchant-funded cardholder rewards program just got a powerful new marketing channel — and, thanks to regulatory reform, a stronger pitch to make to banks.

TechProcess Solutions Ltd. will provide online-payment services to customers of Standard Chartered Bank India under a deal the Mumbai-based company announced last week.

First Data Corp.’s formation of the Banc of America Merchant Services LLC alliance with Bank of America Corp. in June of last year is paying dividends for the transaction processor.

Pivotal Payments says its integration with Pinnacle Cart, e-commerce software Desert Dog Marketing LLC designed for merchants to use on their websites, could help its sales agents increase their revenue by attracting more merchants.

First Data Corp. on Aug. 10 reported a net loss attributable to the company of $171.2 million for the second quarter ended June 30, down from the $195.9 million loss the transaction processor reported during the same period last year. Revenues totaled $2.61 billion, up 18.1% from $2.21 billion, driven by the formation of the Banc of America Merchant Services LLC alliance.

The $3 billion price Advent International Corp. and Bain Capital LLC will pay for an 80% stake in RBS WorldPay, the payment-processing arm of the Royal Bank of Scotland PLC, may point to an imbalance in value between privately held and publicly held payment processors, suggests David J. Koning, a senior research analyst at Milwaukee-based Robert W. Baird & Co.

The mobile banking and payments company ClairMail Inc. said it had strong revenue growth in the second quarter.