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Heartland Payment Systems Inc. is accusing VeriFone Holdings Inc. of “tampering” with Heartland customers after the San Jose, Calif.-based terminal company said it will terminate its support relationships with Heartland customers, effective Dec. 31. VeriFone says it will offer complete alternative support at no cost to affected merchants. Heartland merchants …
Read More »Cynergy Data Starts Life Anew After a Trip to Bankruptcy Court
Cynergy Data LLC, the big independent sales organization that filed for bankruptcy Sept. 1, got a second lease on life last week when the sale of its assets to The ComVest Group, a private-equity firm with holdings in other payment processors, closed. ComVest paid $81 million for Long Island City, …
Read More »Accel/Exchange Goes Live With Online PIN Debit
PIN-debit is now live on the Web with Monday's announcement that Accel/Exchange is the first electronic funds transfer network to roll out such a service. The network, a unit of Brookfield, Wis.-based Fiserv Inc., is making the PaySecure system from technology provider Acculynk Inc. available to its membership base this …
Read More »Ingenico Pitches a PDA for Computing And Card Acceptance
While a raft of players over the past several months have introduced software that equips smart phones to accept cards, Ingenico has introduced a wireless point-of-sale device that combines in one unit the ability to take card payments, print receipts, and act as a personal digital assistant (PDA). The French …
Read More »A Pair of Mobile Merchant Apps Debut with Tech Twists
Two new payment applications debuted this week to allow plumbers, pizza-delivery services, and other mobile merchants to accept card transactions on mobile phones. The new apps, from Charge Anywhere LLC and TSYS Acquiring Solutions, follow in line behind a steady flow of such products that have launched this year. But …
Read More »A Startup Does Medical Payments on an Online Bill-Pay Model
A new approach to facilitating electronic payments with health-care service providers is being developed by Redwood City, Calif.-based Health Team Inc. Founded earlier this year by executives with backgrounds in online banking and bill-payment services, Health Team developed the HealthRails.com network on concepts similar to online bill pay. Currently in …
Read More »House Interchange Bill Brings Out the Venom on Both Sides
Rested after their recent skirmish over 7-Eleven Inc.'s anti-interchange petitions, the interchange partisans went at it again Thursday in Congress. The battleground this time was a House Financial Services Committee hearing on the bill from U.S. Rep. Peter Welch, D-Vt., that would require more interchange disclosures and demolish most of …
Read More »A Special Delivery on the Hill Makes Interchange a Grassroots Issue
A delegation from 7-Eleven Inc., including the convenience-store giant's chief executive and a handful of franchisees, cast the card-interchange issue as a matter of grassroots politics on Wednesday by personally delivering to lawmakers in the nation's capital petitions with nearly 1.7 million signatures calling for interchange regulation. The petitions, which …
Read More »An eBay for Card Processing Seeks to Cut Costs for Merchants
With merchants looking to cut processing costs and clarify the pricing they pay for card acceptance, a Web site that lets merchants take bids from acquirers is generating between eight and 10 deals a month for at least some of the qualified processors using it. Chicago-based Transparent Financial Services LLC, …
Read More »MasterCard Cries Foul As 7-Eleven Readies Interchange Petitions
7-Eleven Inc. misled consumers who signed a petition asking Congress to regulate card interchange, MasterCard Inc. charged on Tuesday, one day before officials with the convenience-store chain are expected to deliver nearly 1.7 million signed petitions to Capitol Hill. Armed with the results of a consumer survey, executives with the …
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