Retailers

Processors, not ISOs, likely will handle many provisions of a law that takes effect next January requiring acquirers to report merchant credit and debit card transactions to the Internal Revenue Service, says Henry Helgeson, co-CEO of Merchant Warehouse Inc., a Boston-based ISO.

News last week that North American Bancard has hired a financial advisor to help sort out its future and that Merchant Data Systems Inc. has purchased a 1,300-merchant ISO potentially is signalling a resurgence in mergersand acquisitions among portfolio buyers and sellers. It also signals further consolidation in the ISO and merchant-acquiring industry.

Automated clearinghouse transaction processor ACH Federal LLC is introducing a merchant-referral partner program for ISOs in the hopes of expanding its client base, according to the Chattanooga, Tenn.-based company.

A majority of UK consumers hold retailers primarily responsible for making online transactions safer, and fraud risk remains a top concern for many UK shoppers when making online purchases, according to data released today from CyberSource Ltd., a UK-based subsidiary of CyberSource Corp.

President Collect Service Corp., a Taiwan-based courier service, plans to use approximately 1,600 VeriFone Vx670 wireless payment terminals to collect home-delivery payments, VeriFone Holdings Inc. announced today. Many Taiwanese dislike submitting their payment card information for online or television shopping until the products are delivered, San Jose, Calif.-based VeriFone says.

In today’s economy, merchants still want to know how much credit and debit card processing is going to cost, but independent sales organizations say price is only one part of the sales pitch. Listening to what the merchant says it needs can be equally as important in securing the deal.

From the January/February 2010 issue of ISO&Agent.

From the January/February 2010 issue of ISO&Agent.

From the January/February 2010 issue of ISO&Agent.

From the January/February 2010 issue of ISO&Agent.

From the January/February 2010 issue of ISO&Agent.

Automated clearinghouse transaction processor ACH Federal LLC, is introducing a merchant-referral partner program for independent sales organizations in the hopes of expanding its client base, according to the Chattanooga, Tenn.-based company.

North American Bancard’s decision to hire Deutsche Bank Securities is to “explore the opportunity to strategically align ourselves with financial partners to pursue any opportunities,” Marc Gardner, the independent sales organization’s president, tells PaymentsSource. North American Bancard earlier this week announced the Deutsche Bank hiring.

JetPay LLC, a Carrollton, Texas-based payment processor, says it has won a trademark-infringement issue involving its Web site address, www.jetpay.com.

Newtek Business Services Inc., a New York-based payments company, says it has refinanced a $15 million line of credit with Capital One N.A.

VeriFone Holdings Inc.’s Payware Mobile payment software for Apple Inc.’s iPhone is available from Apple’s iTunes store, the San Jose, Calif.-based terminal maker says.

The world’s largest payment-terminal manufacturers expect to see a modest uptick in demand this year after a lengthy, recession-driven sales slump. France-based Ingenico, along with U.S.-based VeriFone Holdings Inc. and Hypercom Corp., all are cautiously optimistic about this year’s sales outlook, partly because of new data-security mandates that will require certain merchants to replace existing terminals.

American Payment Systems increased compliance with the Payment Card Industry Data Security Standard among its roughly 1,200 merchant clients to 48% currently from roughly 10% Oct. 1 with a phone-call campaign, according to the Omaha, Neb.-based independent sales organization.

Merchant Data Systems Inc., a Miami Beach, Fla.-based independent sales organization, has bought ISO Merchant Services, an ISO with 1,300 merchants, Merchant Data Systems announced this week. Terms were not disclosed.

U.S. Bancorp's merchant acquiring operations are getting into Mexico on the ground floor.