Competitive Strategies

Payment processor Total System Services (TSYS) this week says it is embarking on a new approach to technology, one that forms a core component of its business and information technology strategy. Called Surround, the approach is expected to lead to products that have easier integrations, greater flexibility and financial innovation, …

Tip.ly is a new app that wants to make it easier for patrons to tip their servers. The iPhone-only app is designed to solve the problem of how to leave a tip when a consumer has no cash. Consumers associate a payment card with their Tip.ly accounts. Recipients collect the …

  Mobile payment provider LoopPay Inc. launched the LoopPay Card and CardCase, accessories meant to make it easier to use the mobile-payment service. After downloading the free Loop Wallet from the iTunes or Google Play stores, the user connects a Loop device to the phone. The user creates an account …

First Data Corp.’s Clover point-of-sale system now is available in a mobile version that enables merchants to roam their store aisles with the device. Dubbed Clover Mobile, the service can be paired with the stationary Clover Station or used as a standalone service, First Data says. Like Clover Station, Clover …

The newly rebranded Verifone Inc. this week made several product announcements. As the payments industry pays more attention to data security, Verifone this week said it is making its secure payment service Verifone Point available to all of the terminal maker’s direct customers and U.S. merchant acquirers and independent software …

A confident Kenneth I. Chenault appeared before 7,000 payments and financial-services executives on Tuesday to talk about what he touted as American Express Co.’s recent record of success in digital payments. While he runs a 164-year-old company with roots in plastic cards and travelers’ checks, Chenault conceded nothing to his …

  Money-transfer provider MoneyGram International Inc. has launched MGiAlloy, a technology platform to enable greater use of alternative financial services. MGiAlloy, which can be used on kiosks, online, on mobile device or at points-of-sale, enables consumers to transfer money, pay bills, cash checks, reload prepaid cards and other services. Dallas-based MoneyGram …

  CPI Card Group is working with digital issuance and wallet platform provider Sequent Software Inc. on CPIMobile, a service to deliver secure digital credentials to near-field communication (NFC)-compatible smart phones. CPI announced Monday. NFC is a two-way protocol that enables mobile devices to share data in a secure environment. CPIMobile …

With financial institutions lending less to small businesses, new, technology-based companies are moving into merchant lending to fill the void. This is a market typically served by so-called merchant cash-advance firms, companies that lend money in the form of advances against a merchant’s expected credit card volume. In many cases, …

Count Poynt Co. as the newest member of the point-of-sale terminal maker industry. The Palo Alto, Calif.-based company hopes to entice merchants, developers, and resellers to its product. Osama Bedier, Poynt chief executive, formerly led Google Inc.’s Google Wallet and before that worked at PayPal Inc. The L-shaped device rests on …