Three years after introducing a joint venture aimed at processing automated clearing house transactions between the two banks, Wells Fargo & Co. and Bank of America Corp. have abandoned the operation, which they called Pariter. “It will shut down over the next few weeks,” a Wells spokesperson tells Digital …

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  n n n The source of such fears is a fast-changing landscape in which all the payment card networks are looking for new revenues and markets. “Some of my clients are freaking out, without naming names,” says Adil Moussa, an analyst at Boston-based Aite. Card networks are already direct …

  Bullish on the prospects of electronic wallets residing on smart phones equipped with near field communication (NFC) chips, leading point-of-sale terminal maker VeriFone Systems Inc. says that topline revenues from software, services, and equipment for NFC wallets could increase in the United States between $100 to $150 million, and …

Google Inc.’s entry in mobile payments and marketing, which the online search titan unveiled last Thursday, swept many observers off their feet with its comprehensive roundup of key players but also left a number of crucial questions unanswered. Experts agree, though, that the uncertainty swirling around these questions only underscores …

  American Express Co. will step up marketing of its Serve digital payment system early in the third quarter, following encouraging results from a pilot in Eugene, Ore., says David Messenger, executive vice president of online and mobile, American Express. “We’ve done a market test in Eugene and got some …

  n The first eBay/PayPal executive to go to Google, Stephanie Tilenius, aggressively pursued Osama Bedier, PayPal’s reluctant mobile-payments man, long before her separation agreement permitted her to do so, according to the suit. And Bedier discussed potential employment with Google while simultaneously negotiating a major business deal for PayPal …

Google Inc. on Thursday officially entered what is rapidly becoming a highly competitive sweepstakes for dominance in the nascent business of mobile wallets. The Web search giant announced it is working with four partner companies and some 16 retailers to offer consumers a payments-and-rewards system based on its Nexus S …

The bubbling person-to-person payments market boiled over Wednesday when mega banks Bank of America Corp., JPMorgan Chase & Co., and Wells Fargo & Co. announced a joint P2P service dubbed clearXchange. While currently limited to the banks’ customers, clearXchange could be integrated with other P2P systems, and possibly even become …

  Google Inc.’s announcement concerning its plans for mobile payments and promotions, expected on Thursday, will herald a major effort by the Web search giant and partner companies to commercialize near-field communication (NFC) technology, sources tell Digital Transactions News. “This is not just another [NFC] pilot,” says a source close …