Retailers

PHOENIX–Credit and debit card fraud leads all other types of fraud at most U.S. banks and credit unions, but most institutions are fighting illegal account access with constrained budgets and relatively small teams averaging one to five workers, regardless of institution size, new survey data from ISMG Corp.’s BankInfoSecurity.com suggest.

Secure Vault Payments, NACHA’s alternative payment system that enables consumers to make online purchases directly from their bank accounts, may gain new prominence from a test it is running with a sizeable client.

AT&T Inc. has added WorldPay US Inc. as a processor for the mobile-merchant payment initiative the telecommunication company launched last year, according to an entry posted March 1 on WorldPay’s blog.

Tee-On Golf System Inc.’s announced partnership earlier this week with Yespay International Ltd. will enable Canadian golf courses using Tee-On’s tee-time booking software to accept EMV chip-and-PIN payment cards, according to London-based Yespay.

High-tech hackers capable of breaking into sophisticated networks may be what many small-business owners envision when hearing about data-security risks. In their minds, such breaches are more likely to plague a corporate retail giant than a small, family-run shop.

Heartland Payment Systems Inc.’s Steve Elefant readily admits software-based payment-acceptance products are less secure than those requiring hardware. But that did not prevent the payments processor from supporting Acculynk Inc.’s PaySecure checkout software, which enables merchants to accept PIN-debit cards online.

ATM independent sales organizations are worried about declining interchange rates, rising costs and pending legislation, but the majority are still looking to expand their businesses within the next year, the results of a recent survey suggest.

Citizens Financial Group Inc. said Wednesday that it will offer its commercial card customers a spending control service from MasterCard Inc., the banking company said Wednesday.

Hypercom Corp. generated nearly a 400% rise in profit during the fourth quarter ended Dec. 31 compared with the same period in 2009, the terminal maker announced March 2.

Merchants’ security concerns are driving the development and sales of new payment hardware at VeriFone Systems Inc., the top executive at the payment-terminal maker told analysts during a March 1 conference call to discuss fiscal first quarter earnings.

As it looks to generate more revenue and to enable issuers of its cards to better analyze their customers’ transactions, MasterCard Worldwide is exploring ways to secure more volume for its processing switch from cards carrying the network’s brand, especially outside the U.S., Chris McWilton, MasterCard president of U.S. Markets, said during a March 1 presentation.

Dwolla, a low-cost mobile-payments provider, has launched of what it is calling the first location-based payment technology, which will enable users to check in at various retailers and use their mobile phones to pay for purchases, the company. announced March 2.

Helped largely by the 2010 Vancouver Winter Olympic Games, spending by Visa cardholders visiting Canada last year rose 10.3%, to $6.4 billion from $5.8 billion the previous year, Visa Inc. announced Feb. 28.

Payment-terminal maker VeriFone Systems Inc. this afternoon reported net income of $32 million for the fiscal first quarter ended Jan. 31, up 202% from $10.6 million during the same period last year. Revenue was up 27%, to $283.8 million from $223.4 million.

Axis Bank Ltd. has begun offering a service that allows customers to make income-tax payments at its ATMs in India, becoming the country’s first private-sector bank to do so.

Heartland Payment Systems Inc.’s Steve Elefant readily admits software-based payment-acceptance products are less secure than those requiring hardware. But that did not prevent the payments processor from supporting Acculynk Inc.’s PaySecure checkout software, which enables merchants to accept PIN-debit cards online.

Tyfone Inc. is partnering with smartphone-accessory company Dexim Inc. to offer a sleeve that attaches to Apple Inc.’s iPhone to support contactless payments worldwide using Tyfone’s SideTap microSD chip technology, the companies announced Feb. 28.

Approximately 57% of vending-machine operators plan to add or expand their use of cashless payments this year, while only 8% likely will not add payment card acceptance to their machines, new survey data suggest.

Demonstrating a way to make money on a service many banks view as a cost, Hearst Corp. on Feb. 28 launched a beta version of its bill presentment and payment site Manilla.com.

Oberthur Technologies of America Corp. is in talks with U.S. issuers planning to migrate their debit and credit card portfolios to EMV chip-and-PIN technology “over the next couple of quarters,” an executive for the card manufacturer tells PaymentsSource.