Boston-based Vayusa Inc., whose MobileLime network serves some 80 merchants for payments initiated from consumers' cell phones, plans to begin supporting transactions based on the near-field-communication (NFC) standard in the second quarter. Announcing its new NFC platform today, the company says consumers with MobileLime accounts will be able to use …

Cardtronics Inc., which operates the largest network of ATMs in the U.S., reported a net loss of $900,000 for the fourth quarter of 2005 along with a full-year drop in net of $3.7 million, to $900,000. The results came on increases of 12.6% and 39.5% in revenue, respectively, for the …

The installed base of ATM-like machines that allow consumers to pay bills, cash checks, top up prepaid wireless cards, and perform other financial transactions is set to explode as retailers and banks seek ways to serve the population of unbanked and underbanked customers, a new research report says. Indeed, the …

In a sign of how fast the market for remote capture of checks is developing, one of the largest software companies serving the image-exchange market has launched a hosted product to serve small financial institutions looking to get into the business quickly. “We're seeing significant demand [from small banks] because …

For all the progress banks and merchants have made so far with contactless payments, further success is threatened by inconsistent approval criteria for components ranging from chips to readers, an expert in radio-frequency-based payment warns. That inconsistency, he says, is driving up costs and breeding frustration among vendors. “It's just …

The battle over interchange, which has already spawned some 47 antitrust suits against the bank card networks and major banks, reached the U.S. Congress today as advocates for both retailers and banks traded sometimes barbed arguments before a panel holding a one-day hearing to look into the networks' pricing mechanism. …

December was an ominous month for banks, retailers, processors, and other service providers concerned about the safety of the Internet commerce channel. Although the reported number of phishing incidents declined in the last month of last year, that drop masked alarming increases in the number of malicious Web sites launching …

Morgan Stanley's Discover Financial Services LLC today launched a signature-based debit card, dubbed Discover Debit, as the second major prong in its debit card offensive. Because signature-based debit delivers higher income to issuers than PIN debit, observers have looked for such a product from Discover ever since the Riverwoods, Ill.-based …

Heartland Payment Systems Inc., a publicly held acquiring processor based in Princeton, N.J., announced today it has acquired Debitek, a provider of closed-loop stored-value systems based in Chattanooga, Tenn., from terminal maker Ingenico Corp. Terms of the transaction, which was structured as a stock purchase, were not disclosed. The deal …

In building out a network of point-of-sale readers to accept their contactless cards and tokens, banks and their card associations could be creating an infrastructure that will also support payments based on new mobile-payment technologies like Motorola Corp.'s M-Wallet software that could bypass the lucrative credit card interchange system, one …