Acquiring

A lawsuit brought earlier this month by the Federal Trade Commission against a telemarketer and its merchant processor should serve as a warning to independent sales organizations and other acquirers that they could be held responsible for their clients’ actions, according to a prominent payments attorney. “The FTC’s suit should …

  More testing and documentation for payment card-accepting devices that process personal identification numbers are the order of the day under newly revised requirements from the PCI Security Standards Council. The revisions, dubbed Version 4.0 of the PIN Transaction Security (PTS) Point-of-Interaction (POI) requirements, are the first of three major …

The Consumer Financial Protection Bureau appears to be gearing up to put more controls on bank overdraft fees. The impact of any new overdraft rules on debit cards is unknown but there’s a chance they could prove positive for transaction volume, according to one industry researcher. The CFPB, a creation …

Working closely with merchants, card issuers, and merchant acquirers to deliver more value through its brand at the point of sale, as opposed to enhancing revenues through price increases, is the road map Visa Inc. laid out Thursday at its Investor Day conference. “We don’t feel we have to raise …

  VeriFone Systems Inc. interim chief executive officer Richard McGinn gave a blunt review of the company’s recent past Wednesday in the point-of-sale hardware and payment software provider’s first quarterly earnings call in memory without former chief executive Douglas Bergeron. McGinn said the company under-invested in research and development and …

Europay-MasterCard-Visa (EMV) chip cards have entered the classic phase of huge percentage growth from a very small base, according to new U.S. figures from Visa Inc. The leading network this week reported that American financial institutions had issued 3.5 million Visa-branded EMV cards as of March 31, an increase of …

  The fledgling Chase Merchant Services operation may now have a boss, but that doesn’t mean the considerable industry curiosity about the JPMorgan Chase & Co. payments unit is going to be quenched any time soon. Chase officials, beginning with newly appointed CMS chief executive Mike Passilla, are playing it …

  IP Commerce Inc., a 9-year-old Denver-based company that provides platforms for independent software vendors (ISVs) and other payments developers, will discontinue its front-end payment-processing service effective June 30, according to a notice on the home page of the company’s Web site. The company began notifying clients earlier this month, …

The primary reason consumers and small-business owners visit banks is to cash or deposit checks, but mobile capture removes that purpose, says Gary Brand, director of source capture optimization at Fiserv Inc., a Brookfield, Wis.-based vendor of processing technology for financial institutions. “Something’s really happened, all of a sudden [banks …

  The rhetoric spewing from partisans on both sides of the massive credit card interchange-litigation settlement is heating up as a major deadline in the 8-year-old case approaches. May 28 is the last day the court overseeing the case will let merchants opt out of their share of monetary damages …