Payment technology

U.S. Bank releases suite of business traveler payment enhancements

U.S. Bank recently announced a new suite of tools aimed at securing, enhancing and streamlining payments made by business travelers. The new capabilities, which will be introduced during the Global Business Travel Association’s annual conference this week, include U.S. Bank Travel VirtualPay, real-time credit limit change capabilities and... Read More...

Visa announces new secure payments offerings for internet devices

Visa announced last week a new suite of offerings aimed at securing payments across a number of internet-connected devices and wearables. Visa Digital Solutions offerings will fall into two categories: support for new methods of payment and technology to protect consumers and facilitate innovation, according to a Visa press release. “Visa... Read More...

MasterCard launches MasterPass technology in Poland

MasterCard extended its global reach even further last week with the introduction of its MasterPass digital wallet technology in Poland. uPaid will be among the first to use the MasterPass platform to power its uPaid wallet. uPaid will switch its current MasterCard Mobile users to the wallet, according to a Mastercard press release. “In... Read More...

NAC issues guidance on EMV migration for ATM operators

The National ATM Council (NAC) issued guidance last week for the U.S. ATM industry on EMV migration, urging operators to ensure that new machines purchased have EMV hardware and software functionality. “EMV is one of the most crucial issues facing the US Independent ATM industry today, and NAC felt a real need to help provide clarification... Read More...

MasterPass digital payments technology goes live in South Africa

MasterCard announced on Tuesday the launch of its MasterPass service in South Africa, which will be the 10th country to gain access to the company’s digital wallet technology. Standard Bank will be the first local bank to offer a digital wallet powered by MasterPass—the app will be available for download for Apple, Android and Blackberry... Read More...

Allied Wallet recognized by Acquisition International for payments

Online payment processor and merchant services provider Allied Wallet was recently named the “Customized Payment Solutions Provider of the Year” in the U.S. by Acquisition International for its small-business online payment solution. Acquisition identifies and recognizes success, innovation and ethics in awarding the title, which is one of... Read More...

BofA Merrill Lynch offers cross-currency payments through online portal

Bank of America Merrill Lynch recently announced that corporate and government clients now have access to low-value, cross-currency payments through the company’s CashPro Online banking portal. “We’re pleased to add this new capability to CashPro Payments and extend the available options that clients have to initiate their cross-border... Read More...

Creditcall CTO offers tips to simplify migration to EMV

Jeremy Gumbley, the chief technology officer at payment service provider Creditcall, recently offered tips to participants in the payment industry to help ease the transition to EMV ahead of the October 2015 liability shift. Gumbley said one of the first steps in migrating to EMV involves the selection of a PIN pad. In order to choose the... Read More...

Medvedev: Russia must cooperate with U.S. card processors

Russian Prime Minister Dmitry Medvedev said earlier this week the Russian government must cooperate with card companies Visa and MasterCard in building the country’s national payment system. "To do this, we have taken a number of steps, including changes in the law on the national payment system... which caused heated discussion,”... Read More...

JetPay Payment Services receives Data Integrity Compliance award

JetPay Payment Services was recently awarded the 2013 Data Integrity Compliance award, which recognizes processors with the highest compliance percentage, by MasterCard International. “JetPay Payment Services has a 15-year record of delivering superior quality service to our business partners,” Trent Voigt, the founder and CEO of JetPay’s... Read More...

Oink to be integrated into Woozworld social network for teens

Virtual Piggy, the provider of family/teen wallet solution Oink, announced an agreement last week that will bring payments to the popular social network Woozworld for teens. Woozworld has more than 25 million registered users; it allows users to gather to socialize and play games with friends. “We’re thrilled to add the Oink technology... Read More...

MasterCard’s MasterPass goes live in Singapore

MasterCard announced on Monday the introduction of its MasterPass digital wallet in Singapore, which will allow the country’s consumers to store payment card information, address books and shipping information for future purchases. “Singapore is already an evolved market for digital payments, and we continue to see great potential for... Read More...

Virtual Piggy partners with Global Collect

Virtual Piggy, the provider of the Oink digital piggy bank for families and teens, announced on Thursday a partnership with international payment service provider GlobalCollect. "GlobalCollect has built an extensive network of industry partners, and we're thrilled to work with them to expand international processing acceptance and... Read More...

iPayment, VeriFone partner to offer tablet POS solution for merchants

California-based iPayment, which provides credit and debit payment processing services to more than 150,000 merchants in the U.S., and VeriFone announced on Monday a new tablet, app-based point-of-sale solution for merchants. “VeriFone is impressed with the innovative technology and tools iPayment provides to small and medium sized merchants;... Read More...

Chase ties for top spot in mobile banking functionality among U.S. banks

Chase was ranked the top bank in the U.S. for mobile banking functionality in a report released on Monday by Forrester Research. Chase earned 69 out of 100 points and tied with another bank for the top spot overall, marking the third consecutive year the bank has earned the position in Forrester’s report. The research and advisory firm... Read More...

Intuit to acquire Check for $360 million

TurboTax developer Intuit announced on Monday that it plans to purchase California-based mobile bill pay provider Check in a $360 million acquisition intended to expand and build the company's presence in the mobile market. According to a report from Aite Group released in September, American consumers spent an estimated $3.8 trillion paying... Read More...

Mobile wallet functionality to double by 2018

New data from U.K.-based Juniper Research released last week showed that mobile wallet functionality will double over the next four years, with one in five phones expected to have mobile wallet capabilities by 2018. According to the data, growth will be driven by two distinct models—stored value accounts, which are similar to prepaid cards... Read More...

MasterCard, Bank of Punjab launch program to push financial inclusion

MasterCard and Pakistan’s Bank of Punjab announced on Tuesday the launch of a Social Security program aimed at streamlining government disbursement, subsidy and assistance programs as part of an effort to encourage financial inclusion in the country. Under the terms of the agreement, the Bank of Punjab will issue payment cards to millions of... Read More...

AECU first in Missouri to launch NCR-branded ITM virtual teller

American Eagle Credit Union (AECU) recently became the first credit union in Missouri to deploy a remote, interactive video ATM machine produced by transaction technology provider NCR to provide personalized teller services to members. NCR-branded ATMs are now available at AECU, a division of the Anheuser-Busch Employees’ Credit Union,... Read More...

LifeLock to discontinue mobile wallet application over security concerns

LifeLock announced in a blog post last week that the company has removed its mobile wallet application, citing aspects of the mobile app that may not completely comply with PCI security standards. The LifeLock Wallet app will be removed from the Apple App Store, Amazon Apps and Google Play. Information for current users of the app will be... Read More...

ATPC launches to represent Georgia’s Transaction Alley

The American Transaction Processors Coalition (ATPC) was recently launched in Georgia, which has gradually become a payment headquarters, with 70 percent of the nation’s credit, debit and gift card transactions pushed through the state. “The payments processing industry is approaching the size of the U.S. movie industry, and it is dominated... Read More...

Western Union expands services in Malaysia with business payments unit

Western Union announced on Tuesday the launch of a dedicated business payments unit—Western Union Business Solutions—in Malaysia to provide the country’s businesses with international payment and foreign exchange products. “Malaysia is a fast-growing market and is quickly becoming an important player in a key economic region,” Kerry... Read More...

Heartland Payment Systems unveils new brand identity to reflect growth

Heartland Payment Systems, the fifth largest payment processors in the U.S., recently unveiled a new brand identity to reflect the company’s growth over the past 17 years. Founded by Robert Carr in 1997, Heartland is headquartered in Princeton, N.J., the company now has offices in Texas, Colorado, Tennessee, Oregon, Indiana, New York,... Read More...

MasterCard to acquire Opus Software subsidiary ElectraCard

MasterCard announced on Monday plans to acquire Opus Software subsidiary ElectraCard Services (ECS), an electronic payment and card systems software provider, by the end of the second quarter. “We have had a strong relationship with MasterCard for many years now and are excited that the ECS team will be part of MasterCard enabling it to... Read More...

LoopPay expands mobile wallet app availability to Android users

LoopPay, the provider of the LoopWallet app, announced on Tuesday that the app is now available for free download on Android mobile devices at the Google Play store. The app, which allows consumers to store payment and identification cards, was introduced for Apple devices in February. LoopPay said the app addresses some of the inadequacies of... Read More...

Changing attitudes on mPOS to contribute to boom in adoption in 2014

A study released by Visa Europe on Tuesday indicates that mobile point-of-sale adoption among small businesses in Europe will increase substantially in the coming year as merchants become more comfortable with mobile POS solutions. The study, which polled 2,000 small businesses in the U.K., France, Germany, Italy and Poland, indicated changing... Read More...

Isis reports double growth, increased mobile wallet downloads in April

Isis, one of several major players in the digital wallet space, announced on Wednesday that the company saw growth double in April, pointing to the activation of more than 20,000 Isis Wallets per day over the past month. The Isis Wallet, which launched in November, is supported on 68 AT&T, T-Mobile and Verizon mobile devices and allows... Read More...

American Express expands OptBlue U.S. small merchant program

American Express announced on Wednesday the expansion of OptBlue, its merchant acquisition program, to include First Data, EVO, Merchant e-Solutions and First American Payment Systems. OptBlue allows participants to provide small U.S.-based merchants with a single statement process, along with one contact for all the major credit card brands.... Read More...

MasterCard to open payments processing center in UAE

MasterCard announced on Wednesday that it will open a payments processing center in the United Arab Emirates to provide integrated processing services to customers in the Middle East and North Africa. “The MasterCard Processing Center is a continuation of our global strategy to expand the company’s processing presence in high growth... Read More...

Vantiv to acquire Mercury Payment Systems for $1.65 billion

Payment technology provider Vantiv announced on Monday a $1.65 billion deal to acquire Colorado-based Mercury Payment Systems as part of the company’s strategy to expand growth in the integrated payments space. “The emergence of integrated payment technology at the point-of-sale delivers a differentiated merchant experience and creates a... Read More...

STRO, MoWoza win E-Pay Innovation Awards at ETA’s TRANSACT 14

The Electronic Transactions Association recently announced the selection of two companies, Social Trade Organization (STRO) and MoWoza, as the winners of the 2014 E-Pay Innovation Awards funded by the Bill & Melinda Gates Foundation. The awards, which are presented at the ETA’s TRANSACT conference, recognize products that have the... Read More...

Virtual Piggy partners with Gorilla Group to expand Oink in e-commerce

Virtual Piggy announced on Monday that it has partnered with Gorilla Group, an award-winning commerce solutions provider, to expand its reach in the e-commerce industry. Virtual Piggy is the provider of Oink, a virtual piggy bank and digital wallet that allows kids and teens to shop online and provides parents with control over purchasing and... Read More...

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