Acquiring

PayPal Inc. announced on Thursday it will process payments when owners of electric vehicles charge up their cars at charging stations maintained by GE Industrial Solutions, a unit of General Electric Co. In what amounts to yet another venture into the physical point of sale for PayPal, the e-commerce processing …

The card networks, major U.S. banks, and U.S. merchants reached a $7-billion-plus settlement late on Friday, capping a seven-year battle over credit card interchange and network acceptance rules. If approved by the court, the settlement will be the largest such agreement ever in an antitrust case. Under the terms of …

School lunches often draw fire from students, who want tastier fare, and parents and nutritionists, who want healthier meals. But for merchant acquirer Heartland Payment Systems Inc., food service in schools is proving to be a profitable new payments niche. Princeton, N.J.-based Heartland on Monday said it had acquired LunchByte …

A new company run by electronic-payments veteran Bipin Shah announced on Monday it has agreed to buy two merchant processors and a payroll-processing company for a total of $179 million in cash and stock. The acquisitions are part of a strategy followed by Radnor, Pa.-based Universal Business Payment Solutions Acquisition …

Startup Revel Systems Inc. this week unveiled a device it is touting as a way for retailers using an Apple iPad for point-of-sale functions to run peripheral devices without an Ethernet router. The device, called the Revel Router, accesses the Internet via the iPad’s cellular connection. San Francisco-based Revel, which …

With EMV chip card payments coming and mobile wallets using near-field communication already here, merchant acquirers are beginning to roll out their own hardware and software to handle the new technologies. This week, the big merchant acquirer Chase Paymentech introduced its “Future Proof” point-of-sale terminal and earlier this month, Merchant …

A network fee introduced this year by Visa Inc. hands so-called merchant aggregators like PayPal Inc. an unfair cost advantage relative to traditional acquirers and independent sales organizations, a top executive with one leading ISO contends. The fee, known as the fixed acquirers network fee (FANF), is a complicated affair …

A little software company gone bust won big against leading point-of-sale terminal maker VeriFone Systems Inc. in a patent-infringement verdict June 8. A federal jury in Texas found after a five-day trial that VeriFone infringed on two patents held by CardSoft Inc. and awarded damages and royalties of $15.4 million. …

The hackers who broke into merchant processor Global Payments Inc.’s computer systems added a new chapter to the disreputable history of data breaches by gaining access to information from applicants for merchant accounts, the company disclosed late Tuesday. Global’s revelation apparently is the first publicly known incidence of merchant-applicant information …

The Penn Station East Coast Subs submarine-sandwich restaurant chain says 59 of its 238 locations are now “potentially affected” by a debit and credit card data breach. Parent company Penn Station Inc. first said when it disclosed the breach June 1 that 43 franchisee-owned stores possibly were affected, but the …