Payments

States’ efforts to rein in fly-by-night companies are starting to have an effect on some payments startups’ operations.

The marketplace is beginning to take shape for mobile card readers with the June 29 disclosure that VeriFone Systems Inc. plans to introduce a card-reading accessory for tablet computers this year.

Fiserv Inc.’s deal to buy the software vendor CashEdge Inc. narrows the field of contenders vying for dominance in the growing person-to-person payments space.

Dynamics Inc. made a splash last year with the launch of a Citigroup-issued multipurse card that has a built-in screen and keypad, but the mobile wallet systems that have been announced since then–including Google Wallet, which also has Citi’s support, duplicates all of those features.

In a move that could increase competition in Taiwan’s mobile-payments market, telecommunication operator Far EasTone Telecommunications Co. has declared plans to begin offering payment services by the end of this year.

Mobile-payment initiatives from Google Inc., Isis and PayPal Inc. appear to be motivating investment firms to take a closer look at the companies that will help enable such transactions at brick-and-mortar locations.

Mobile-payments startup Square Inc.’s $100 million venture-capital avalanche announced June 29 could mean that the company’s transaction volume is gaining significant momentum despite its lack of profits, one analyst contends.

MILFORD, Conn. – GE Employees FCU said yesterday it signed with Vantiv, formerly Fifth Third Processing Solutions, for ATM and debit card transaction processing, ATM driving, card production and network gateway access.

Citing “shortcomings” with the technology, Australia’s ANZ Banking Group Ltd. has halted development of a microSD iPhone case designed to turn a smartphone into a payment device.

Jet Airways Ltd., India’s largest private airline by passengers carried, has begun offering a mobile-ticketing service for booking seats on its flights, a sign of continued expansion of mobile commerce in India.

Mobile payments in India received a major boost on June 27 when Nokia India Pvt. Ltd., the Indian arm of the Finnish mobile handset maker, announced it would offer its Mobile Money service on all Nokia devices.

MILWAUKEE – Guardian CU has begun a start-up credit card program with TMG Financial Services.

Another company has announced a mobile payments and marketing app in what some are calling the Wild West of mobile payments.

A San Francisco-based startup called Card.io is offering software that enables cell-phone cameras to scan credit card information, thus moving ecommerce from the Web to mobile phones and creating a new product for ISOs to sell to merchants.

Small and midsize businesses now have an alternative to traditional card-payment processing channels through a new mobile-payment processing service rolled out earlier this month by Australia’s Commonwealth Bank Ltd.

Vivotech Inc., a Near Field Communication software and systems company, has received $24 million in funding to expand beyond the 35 countries where its products are now used, the Santa Clara, Calif.-based company announced June 27.

KANSAS CITY, Mo.-Thomas Hoenig, the president of the Federal Reserve Bank of Kansas City, one of the most outspoken members of the Federal Open Market Committee, has never been shy when it comes to his opinion.

THOUSAND OAKS, Calif.-More banks are likely to follow in Regions Financial Corp.'s footsteps and bring their credit card portfolios back in-house as the worst of the recession's damage recedes and they look to increase revenue.

BILLINGS. Mont.-One small credit union CEO is asking why a large number of CUs have not stepped up and shared with Congress exactly what they are netting on their average debit transaction.

NEW ORLEANS-The controversial Kardashian Kard may have only been on the market for a few short weeks, but its 15 minutes of fame are far from over.