Payment processing

The automated clearing house network is maturing, bringing slower growth rates and probably slowing fee revenue.

Medical marijuana dispensaries in three states have agreed to use payment processing services from Cannabis Medical Solutions Inc.

U.S. merchant compliance with the Payment Card Industry Data Security Standard has changed little since last fall, according to latest compliance update Visa Inc. released this week.

Dirk Rossmann GmbH, a German drugstore chain, is deploying 5,000 Hypercom Corp. Artema Hybrid payment terminals in more than 1,000 locations throughout Germany, the Scottsdale, Ariz.-based point-of-sale terminal maker announced Tuesday.

Taiwantrade.com has inked a payments acceptance deal with international online payments provider PayPal Inc., an official from Taiwan’s national business-to-business e-commerce platform tells PaymentsSource. PayPal is a unit of eBay Inc.

Opus Software Solutions Pvt. Ltd. has won a US$10 million (7,406 euros) order from the State Bank of India to replace the bank’s ATM-processing platform to a dual server-based system, an official from the bank tells PaymentsSource.

The New York money transfer company CashEdge Inc. has hired Citigroup Inc. veteran Catherine Palmieri as its global head of product and marketing.

This past weekend’s launch of Apple Inc.’s iPad also saw the introduction of Square Inc.’s payment card-acceptance application for the device.

Heartland Payment Systems Inc. says its E3 encryption system has been adopted by several payment hardware makers.

Global Payments Inc. this summer hopes to begin processing renminbi payment card transactions in China after securing approval to do so from China UnionPay and the People’s Bank of China, the company announced yesterday afternoon during its third-quarter earnings conference call. It has a few hoops to jump through first, however.

VeriFone Holdings Inc. on Thursday named Chase Paymentech Solutions LLC as one of its preferred merchant processors for users of its mobile phone card reader.

Transaction Network Services Inc. and Blue Bamboo have entered into an agreement that enables independent sales organizations, acquirers and processors to sell a mobile-payment system, according to the companies.

A majority of ISO and merchant-acquiring salespeople say the nation’s latest recession had an impact on their compensation, the results of the ISO&Agent 2010 Compensation Survey show.

Speakers at a recent Internal Revenue Service hearing on proposed transaction-reporting requirements that take effect next January largely focused on the potentially detrimental effects their companies may experience from a foreign-merchant rule contained within the law.

Cardtronics Inc. plans to sell 7 million shares of common stock for $12 per share, the ATM independent sales organization announced March 31.

PayPal users in Japan as of March 31 no longer may send noncommercial transactions to individuals until the further notice, PayPal announced in a statement.

Global Payments Inc. has named Jeffrey S. Sloan, a former managing director at Goldman Sachs & Co., as the Atlanta-based payment processor’s new president.

Visa Inc. has promoted Elizabeth Buse to group executive, international from global head of product. Jim McCarthy, previously senior sales executive for North America, succeeds Buse. Rupert Keeley, previously group president for several international regions, is leaving the company.

Speakers at a recent Internal Revenue Service hearing on proposed transaction-reporting requirements that take effect next January largely focused on the potentially detrimental effects their companies may experience from a foreign-merchant rule contained within the law, according to comments from the hearing.

DataTreasury Corp.'s courtroom victory over three major payments companies is expected to give the check-imaging technology provider more ammunition in its ongoing patent battle with some of the country's largest financial companies.