Visa Inc.’s decision to license a version of its VisaNet processing network to JPMorgan Chase & Co. generated controversy in merchant-acquiring circles when the two companies announced their deal in February, but now Visa says it is getting inquiries from other client financial institutions that may be interested in …

  MasterCard Inc. chief executive Ajay Banga on Wednesday downplayed the company’s controversial digital-wallet fee and said critics had been generating the “wrong noise” about the pending fee. Banga’s comments came during the No. 2 payment card network’s first-quarter conference call with analysts, when Banga also said U.S. consumer spending …

  With a major expansion of its arrangement with PayPal Inc. due later this year, Discover Financial Services is now “the alternative network for alternative payments in the United States,” Discover chief executive David W. Nelms told an audience of merchant acquirers on Wednesday. Hinting that more deals similar to …

  Discover Financial Services on Tuesday named six prominent merchant acquirers among 50 committed to helping the network bring acceptance of leading online payment system PayPal to more than 2 million physical merchant locations by year’s end. But a notable missing link is No. 1 merchant processor First Data Corp., …

  Leading payment processor First Data Corp. reached outside the company over the weekend to tap Frank Bisignano, a veteran operations executive with experience at some of the nation’s largest banks, as its new chief executive officer. Bisignano, most recently co-chief operating officer at JPMorgan Chase & Co., replaces Jonathan …

  One full year after complete implementation of the controversial Durbin Amendment’s debit card regulations, the impact on both merchants and consumers—the law’s putative beneficiaries—remains mixed, according to a study released by the Federal Reserve Bank of Kansas City. While Durbin drastically reduced interchange for the country’s largest banks while …

  n In the case of some merchants, a high rate of PIN acceptance is already controlling fraud, the merchants said. “Our actual fraud rate is so small it’s hardly worth mentioning,” said Gavin Waugh, vice president and assistant treasurer at Wendy’s International Inc. “[EMV] doesn’t move the needle that …

  Financially motivated cybercrime accounted for 75% of data breaches in 2012, with state-affiliated espionage campaigns aimed at stealing intellectual property ranking second at 20%, according to the Verizon 2013 Data Breach Investigations Report released on Tuesday. In 2012, breaches affecting financial organizations accounted for 37% of the total, followed …

  With electronic person-to-person payments volumes booming thanks to an ever-growing list of services from transaction processors, banks and companies such as PayPal, the automated clearing house network is trying to position itself as a P2P player. ACH governing body NACHA on Tuesday introduced bankers to a new rule it …

  The provisions of the Durbin Amendment to the 2010 Dodd-Frank Act are starting to hurt smaller issuers’ debit card income even though these financial institutions are explicitly exempted from the law’s cap on interchange rates, according to a debit expert. “This phenomenon is happening as we speak,” said Tony …