Digital Transactions Authoritative, insightful and timely information for payments professionals
• Two executives of Commerce Payment Systems, which had been a Hewlett, N.Y.-based independent sales organization, have been charged in a $30 million scheme that overbilled more than 10,000 merchants, announced the U.S. Attorney for the Southern District of New York this week following the unsealing of an indictment. The charges allege that Michael Mendlowitz, also known as Moshe Mendlowitz, and Richard D. Hart engineered “a years-long scam,” the attorney’s office said. Specifically, the two allegedly made false claims of low fees, no hidden fees, and guaranteed rates for life, the indictment said. Terms and conditions of merchant agreements also were withheld, it said. The indictment did not reveal the sponsoring bank.
• Visa Inc. announced new enhancements to its Visa Token Service for card issuers that will streamline the online and mobile experiences of Visa cardholders in the U.S. and Australia beginning in 2018.
• Sage Group plc, a British software firm, has concluded a review of its global payment business and put its U.S. operation, Sage Payment Solutions, up for sale, Bloomberg reported.
• Point-of-sale services provider CardFlight launched the Swift B200 and Swift B250 mobile card readers that will support the Consumer Device Cardholder Verification Method, a verification protocol supported by the card brands for transactions originating on mobile devices, CardFlight said.
• Merchant processor EVO Payments International can market to merchant clients of business lender IOU Financial Inc. through a new partnership between the companies.
• eProcessing Network LLC, a payments gateway and services provider, said it received certification from processor Elavon Inc. to accept EMV transactions with the Castles Technology MP200 point-of-sale terminal.
• Merchant processor Global Payments Inc. reported its GAAP revenue grew 47% in the first quarter over the same period last year, to $919.8 million from $626.3 million. The company has now completed a full year since its acquisition of rival Heartland Payment Systems.
• Payments provider Singular Payments LLC said it has a custom payments integration with PracticeSuite, developer of a practice-management software used in medical offices. Payment Data Systems purchased Singular in March.
• The NFC Forum, an association for advocates of near-field communication technology, announced 11 new members.
