Payment processing

Cam Commerce Solutions Inc., a Fountain Valley, Calif., provider of payment processing systems for small and midsize merchants, said Tuesday that it has agreed to sell itself to Great Hill Partners LLC, a Boston private-equity company.

MIAMI — Despite a slowdown in the growth of international remittance volumes that began last year, Wells Fargo & Co. said its remittance business achieved triple-digit growth in the 12 months through May, reflecting what it sees as an ongoing shift to banks from nonbank providers.

Fiserv Inc. is working to offer its walk-in bill-payment service in branches of banks that are trying to reach the underbanked, a large and potentially lucrative market.

IMGCAP(1)]

Wincor Nixdorf International GmbH has moved into second place among the world's largest ATM manufacturers based on shipments in 2007, according to a private study by Retail Banking Research, a London-based strategic research and consulting firm.

Microsoft Corp. has signed an agreement to use Symmetric Systems LLC's VitalPay product for payment-gateway services, global payment processing, merchant workflow, and reporting, Symmetric said Tuesday.

SignaPay Ltd., an Irving, Texas-based independent sales organization, has launched SenorPay, a sales division concentrating on Spanish-speaking merchants.

BOSTON — To expand in the business-to-business payments market, credit card issuers may have to abandon the interchange structure, an analyst has predicted.

At least two groups of shareholders have filed lawsuits alleging that the automated teller machine operator TRM Corp. misled investors about the condition of its finances.

IMGCAP(1)]

IMGCAP(1)]

IMGCAP(1)]

IMGCAP(1)]

IMGCAP(1)]

IMGCAP(1)]

Some 318,000 payments in the United Kingdom were processed during the first three days of that country's "Faster Payments" service, according to a statement released Friday by APACS, a UK-based payments association. Financial authorities designed the service to provide quicker phone- and online-funds transfers. The service began on Tuesday. The value of the payments processed during the first three days reached nearly £200.2 million (US$396.6 million or 255 million euros), the association says. Average payment value stood at £625

By exiting from a longstanding joint venture, JPMorgan Chase & Co. is signaling its intent to expand its focus on the merchant acquiring and processing side of its cards operation.

United Technologies Corp., which made an unsolicited $2.66 billion bid for Diebold Inc., may withdraw its offer if it does not receive more financial information from Diebold. "We'll not buy that property without appropriate due diligence," Louis Chenevert, Hartford, Conn.-based United Technologies' new CEO, told analysts last week. Diebold, which is based in North Canton, Ohio, rejected United Technologies' offer, complaining that it was too low. Diebold is the world's second-largest ATM maker based on machines shipped in 2006.

Heartland Payments Systems Inc., a Princeton, N.J.-based payment processor, is buying the Network Services business of Dallas-based Alliance Data Systems Corp. for $77.5 million, Heartland announced this week.

IMGCAP(1)]