Acquiring

Arguing that U.S. transaction processors face pressing needs for both capacity and faster rollout times for new payment methods, a San Mateo, Calif.-based software company specializing in so-called high-performance transaction-processing systems has begun courting merchant acquirers, processors, electronic funds transfer networks, and high-volume merchants for a recently released payments switch. …

Leading payment processor First Data Corp., restructured and without its huge Western Union wire-transfer business, late on Wednesday reported fourth-quarter income from continuing operations of $240 million, up 12% from $214.4 million for the year-earlier period. Greenwood Village, Colo.-based First Data's merchant and international divisions posted strong gains, while the …

Despite strong results in its off-eBay merchant-processing business, PayPal Inc.'s efforts to lessen its dependence on the online marketplace of its parent eBay Inc. hit a wall in the fourth quarter of 2006. The San Jose, Calif.-based online processor saw 36% of the $11 billion in transactions it handled in …

The latest and possibly biggest in a series of hacks into retailer and processor databases holding sensitive data about credit and debit card holders may indicate that it's time for a new approach to card security, according to at least one analyst. That calls into question the effectiveness of the …

It was a bumpy ride, but Total System Services Inc. (TSYS) emerged from 2006 with some hefty profit growth. The second-largest card processor this week reported fourth-quarter revenues of $503.9 million, up 19.8% from $420.7 million a year earlier, and net income of $87.1 million, up 75.2% from $49.7 million. …

The concept of point-of-sale electronic payments without a standalone card reader took another step forward this week when leading processor First Data Corp. introduced a new personal computer-based service called First Data POS Value Exchange. Aimed mostly at single-location merchants with up to five checkout lanes, the service uses hardware …

Payment-terminal manufacturer Hypercom Corp. on Thursday announced that it has bought the assets and technology of TPI Software LLC, a move that positions Hypercom to be a major player in the growing personal computer-based point-of-sale payments market. Founded in 2001, TPI Software specializes in applications that integrate payment functions with …

The primary reason contactless payments are gaining favor with merchants has to do with speedier transactions and other point-of-sale efficiencies, while retailers installing or planning to install the technology show little concern about its security, according to a recent survey of retail companies. Some 58% of 160 respondents to the …

Prepaid debit cards linked to tax-advantaged employee flexible-spending accounts (FSAs) for medical expenses have been growing quickly in recent years, but they got a big boost this week when leading retailer Wal-Mart Stores Inc. announced it had implemented technology that will spare the customer from sorting FSA-qualifying items from ineligible …

While some analysts and retailers are describing the 2006 holiday spending period as mediocre, the recently ended season turned out to be bountiful for the nation's leading merchant acquirer, Dallas-based Chase Paymentech Solutions LLC. Chase Paymentech, which publishes its Chase Paymentech Pulse Index of holiday transaction and sales volume generated …