Signs are pointing to fewer merchant-account bookings by independent sales organizations, and that's translating into fewer orders for VeriFone Holdings Inc., the largest U.S.-based point-of-sale terminal developer. Last week, VeriFone reduced its revenue projections for its fourth quarter ended Oct. 31 and fiscal 2008. In a conference call late last …

The Canadian governmental body responsible for regulating competition told banks last week it now has no problem with financial institutions issuing both Visa- and MasterCard-branded cards or acquiring transactions on either bank card network, a radical change from present policy. The decision will likely spur not only fundamental changes on …

Often viewed by retail banking officials as public enemy No. 1, PayPal Inc. sent its top executive to a major banking-technology exhibition on Thursday to propose closer collaboration between banks and the San Jose, Calif.-based non-bank e-commerce payments processor. Indeed, PayPal president Scott Thompson suggested banks and PayPal create direct …

A startup company called Bling Nation Ltd., which debuted this week, plans to combine contactless-payment technology with an on-us approach to debit transactions that it says will cut transaction costs for both community banks and merchants. The Palo Alto, Calif.-based processor is in discussions with five financial institutions and plans …

Nearly one-third of U.S. Bank customers who have been issued a contactless debit card have performed at least one contactless transaction since the bank's program began in June, an executive with the bank said on Wednesday. “So far, it's looking really promising,” Michael Shepard, group product manager for consumer credit …

In buying Chockstone Inc., a provider of gift card and loyalty services and technology for merchants, Heartland Payment Systems Inc. essentially is making a bet that merchants with loyal customers make more loyal clients for merchant acquirers. “That certainly is part of the thought process,” Heartland president and chief financial …

Electronic commerce hasn't been the slam-dunk for the electronic funds transfer networks that it has been for Visa and MasterCard. One of the biggest issues has been if and how to facilitate Internet transactions from PIN-based debit cards issued by the EFT networks' member banks and credit unions. Now Metavante …

The PCI Security Standards Council on Monday introduced a quality-assurance program for the companies that determine whether a merchant, processor, or other entity that touches credit and debit card data meets the council's rules. The Wakefield, Mass.-based council's aim is to ensure more uniform enforcement of the Payment Card Industry …

Kount Inc., a startup that specializes in anti-fraud solutions for e-commerce, is looking for accelerated growth from its alliance with Chase Paymentech Solutions LLC, the nation’s largest processor of card-not-present transactions. The agreement, which was signed in September but not announced until this week, gives Kount access to Chase’s merchant …

In what it calls a first for a major oil company, the U.S. subsidiary of Royal Dutch Shell plc in January plans to offer a PIN-based consumer debit card that uses the automated clearing house network, gives consumers a discount on gas, and costs Shell's retail outlets 40 cents per …