Transaction Processing

  With help from Discover Financial Services, regional electronic funds transfer networks this week took a major step toward ending a dilemma over how merchants can route PIN-debit transactions made on chip cards through EFT networks and still meet the Durbin Amendment’s transaction-routing requirements. Previously, the main routes available for …

Troubled point-of-sale terminal maker VeriFone Systems Inc. on Monday announced sweeping changes in its management ranks, appointing four new people to top positions a week after long-time chief executive Douglas Bergeron resigned. One of the key appointments is Eliezer Yanay, who headed San Jose, Calif.-based VeriFone’s global research and development, …

Mike Duffy, president and chief executive of JPMorgan Chase & Co.’s Chase Paymentech merchant-acquiring subsidiary and one of the acquiring industry’s most prominent figures, died Thursday after a long illness. “It is difficult to put into words how much Mike will be missed,” said Gordon Smith, chief executive of Chase …

  Heads look like they’re going to roll at troubled point-of-sale terminal maker VeriFone Systems Inc. as it begins what chief executive Douglas Bergeron calls a “rebuilding year” in the wake of missteps that contributed to lower-than-expected revenues. Bergeron told stock analysts Tuesday that the company has initiated “an exhaustive …

A spate of cease-and-desist orders by the state of Illinois against unlicensed money transmitters has ensnared eight payments companies, including such prominent ones as Square Inc. and NetSpending Holdings Inc. An agency quietly issued orders against both firms in January that seemingly would prevent them from doing business in the …

Now that New Jersey has become the third state to legalize online gambling, the market for the first time in years has begun to offer possibilities to acquirers as a promising new source of transaction volume. But questions remain about how and how soon the new state laws will be …

Visa Inc. and banking giant JPMorgan Chase & Co. on Tuesday announced a 10-year partnership that promises to shake up the merchant-acquiring world by creating direct links between card issuers and merchants. Chase, which owns the nation’s second-largest acquirer, Chase Paymentech, is licensing a private version of Visa’s VisaNet transaction-processing …

Nine months after unveiling its digital-wallet strategy, MasterCard Inc. on Monday announced the start of that strategy’s implementation. Known as MasterPass, the new wallet platform enables mobile payments by consumers using either near-field communication (NFC) technology or quick-response (QR) codes to trigger links between handsets and merchant terminals. Wallets based …

  The funk at VeriFone Systems Inc. continued late Wednesday when the leading point-of-sale terminal maker said revenues and profits for its first quarter of fiscal 2013 ended Jan. 31 would come in far short of earlier predictions. The downward forecast triggered a selloff in VeriFone’s shares, whose price was …

  n The report, which covers the third quarter of last year, documents a steady decline in both the number of unique sites hosting phishing attacks and the volume of reported attacks. The number of phishing sites detected by the APWG fell in step-like fashion from 63,253 in April to …