Payment processing

IPay POS Credit Card Terminal, the new version of the mobile-payment acceptance application called ProcessAway, now works with multiple gateways and comes with a card reader to accommodate card-present transactions, according to Randy Palermo, who developed the application that works on Apple Inc.’s iPhone.

Citic Bank International Ltd., a member of the China Citic Bank Group, has begun using the Clearing House Interbank Payments System to support the bank’s wire-transfer payments, the Clearing House announced July 28.

All U.S. merchant processors likely will benefit from anticipated reductions in debit card interchange rates once the Federal Reserve Board next year finishes its rate-setting task mandated by the Dodd-Frank financial-reform bill President Obama signed into law last week. But they will need to be careful in how they share their savings, Paul Garcia, chairman and CEO of Global Payments Inc., told analysts July 27 while discussing the company’s fiscal fourth quarter earnings.

Visa Inc. on July 28 reported net income of $716 million for the fiscal third quarter ended June 30, down 1.8% from $729 million during the same period a year earlier. Net operating revenue was $2 billion, up 21.2% from $1.65 billion, driven by growth in data processing and international transaction revenue, the company said.

Fiserv yesterday reported a 9% decline in second quarter earnings, based on a drop in income from discontinued operations after last year’s sale of its insurance business.

Stuart Harvey Jr., CEO of Atlanta-based Elavon Inc., is leaving the payment processor, next month, Elavon says. Mike Passilla, currently Elavon’s executive vice president for global business development, will replace Harvey on Aug. 16 as president and CEO.

Nxgen Payment Services’ MerchReport.com service that enables merchants to pinpoint transactions that could have been processed at less-expensive rates is diversifying the independent sales organization’s portfolio, says Michael Jaffe, Nxgen vice president of global marketing and new programs.

Co-op Financial Services July 26 announced three new credit union partners with institutions in Oregon and Washington.

National Processing Co., a Louisville, Ky.-based merchant acquirer, announced July 26 plans to resell integrated point-of-sale payment software made by Datacap Systems Inc.

Hypercom Corp. last week announced a deal in Sweden in which a taxi company in Stockholm is deploying 1,600 of its Optimum M4100 “Blade” payment terminals.

Royal Bank of Scotland Group PLC is in talks to sell its credit card payment processing unit, valued at as much as $3.8 billion, to Advent International Corp. and Bain Capital LLC, two people with knowledge of the matter said Friday according to a Bloomberg report.

The state of Meghalaya in India has set up an online system consumers may use to pay direct taxes, an official from the state’s financial ministry tells PaymentsSource.

MetaBank has announced its joining of the automated clearing house system NACHA.

Cardtronics said it is redeeming $100 million of 9.25% senior subordinated notes as part of a refinancing that will reduce debt and interest expenses.

Efforts to grow internationally appear to be paying off for Total System Services Inc., as are indications the economy is improving.

With another strong quarter under its belt, EBay Inc. plans to position its payment unit, made up of PayPal Inc. and Bill Me Later, as a global leader in online payments and to expand its presence across Asia, John Donahoe, eBay president and CEO, told analysts July 21 during a conference call to discuss second-quarter earnings.

SCHAUMBURG, ILL.–Square Inc., a startup company offering mobile point-of-sale payment-acceptance services, is willing to talk to merchant services sales agents and other distributors, but just not yet, according to the company’s CEO.

Total System Services Inc. has reached a deal to support Tesco Personal Finance PLC's portfolio of 2.4 million credit cards in the U.K.

Fidelity National Information Services on July 21 reported revenue of $630.6 million for its Payment Solutions unit for the second quarter ended June 30, down 0.08% from $631.1 million during the same period last year.

Total System Services Inc. this afternoon reported net income of $52.5 million for the second quarter ended June 30, down 2.8% from $54 million during the same period last year. The Columbus, Ga.-based transaction processor’s revenues were up 5.3%, to $433.8 million from $412 million.