Acquiring

Retailers have a hearty sense of confidence when it comes to how quickly their organizations would detect a data breach, especially one that targets sensitive payment information, finds a survey from Tripwire Inc., a data-security company. In the survey of 154 retail organizations, 60% said their systems could detect a …

Operation Choke Point, a U.S. Department of Justice effort to shut down fraudulent merchants by going after payment companies that provide network access, shows no signs of going away any time soon, despite growing merchant and processor frustration with the initiative. Earlier this month, that frustration gave rise to a …

Two retailer organizations dissatisfied with a $5.7 billion settlement of a class-action antitrust case alleging unfair credit card interchange rates have filed the next step in their appeal of the settlement. The National Retail Federation and the Retail Industry Leaders Association said Monday they filed a joint brief with the …

Transactional credit providers have been few and far between. Bill Me Later launched 14 years ago and was snapped up by eBay Inc. in 2008. BillFloat Inc. started up four years ago and has changed its name to Better Finance Inc. It’s a challenging business requiring close attention to funding costs and …

The parent company of major prepaid card issuer The Bancorp Bank on Wednesday disclosed that the bank had entered into a consent order with the Federal Deposit Insurance Corp. that places restrictions on its dealings with independent sales organizations. The order also prevents the bank in some instances from issuing …

EBay Inc. confirmed on Monday that David Marcus, president of its PayPal Inc. unit, is leaving to take a job at social-network giant Facebook Inc. John Donahoe, chief executive of eBay, will run PayPal until a successor is found for Marcus, who will remain at PayPal until the end of …

Best known for providing wireless card payments for vending machines and unattended locations such as coin laundries, USA Technologies Inc. (USAT) is challenging Square Inc. and other mobile-payments providers in a move to get more mileage out of its specialty processing system. After introducing its mobile services last year, the …

Point-of-sale terminal maker and payment-services provider VeriFone Systems Inc. says it will cut its worldwide workforce by 500 full-time-equivalent employees, or about 9%, by year’s end as it continues to streamline operations in a fast-changing payments market. While it will be paying $30 million in severance, the San Jose, Calif.-based …

The merchant cash-advance and non-bank small-business loan sectors have boomed in recent years, with startups, established providers, and PayPal Inc. all seeking to tap merchant demand for capital that banks haven’t met. Now comes merchant processor Square Inc. with a new merchant cash-advance (MCA) service called Square Capital. As it …

The merchant-acquiring business continued its consolidation trend on Wednesday with the news that Priority Payment Systems LLC has merged with Cynergy Data LLC. The deal, terms of which were not disclosed, has created an independent sales organization processing some $20 billion annually for 125,000 merchant clients. Comvest Partners, a West Palm …