A Phoenix-area company called Better ATM Services Inc. thinks it has a better idea for merchandising prepaid cards: sell them directly at ATMs, with cards dispensed through the same slot that dispenses cash. Founded in 2005, the Mesa, Ariz.-based firm is now implementing its ideas at five local restaurants. Thomas …

Data Insecurity (Editor's Note: This is the first of a 10-part series by noted electronic-payments-industry analyst Steve Mott on the current crisis in transaction security?its causes, its costs, and its possible solutions?ranging from the point of sale to the Internet to mobile commerce. After eight weekly articles, the series moves …

The momentum behind contactless payments is likely to stall unless the wave-and-pay method moves from cards to mobile phones, a new research report argues. But while that movement may boost the potential for mobile payments, it will also require a delicate balance of interests among card issuers, payment networks, merchants, …

Former First Data Corp. executive John Shlonsky, who took over this week as president and chief executive of TransFirst LLC, says he plans to lead the Dallas-based transaction processor into a wide array of new markets with backing from the company's new owner, private-equity firm Welsh, Carson, Anderson & Stowe. …

In a terse announcement released on Thursday, Visa USA said its overall effective interchange rate for the coming year will be 1.77%, up 0.6% from the 2006 systemwide rate. Without giving further details about its new rates, Visa said it will post a rate card laying out its entire schedule …

Discover Financial Services LLC on Tuesday reported that it would use Motorola Inc.'s M-Wallet technology for a test of contactless payments and account management using cellular phones. The pilot not only represents another step by Discover on its road to network-wide contactless payments, but it's also significant for Motorola, which …

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 latest U.S. trial of contactless payment involving mobile phones and near-field communication technology (NFC), set to begin Jan. 10 in New York City, will combine key elements of the two other U.S. pilots mounted so far, and represents the first in which users can access credit cards issued by …

A trio of studies released on Monday indicate the 2006 holiday-shopping season should be merry and bright for gift cards and Internet transactions. Gift cards will be the second most popular item on gift-givers' lists this year, edged out only by apparel, according to survey results from both American Express …

A major deadline set by MasterCard Worldwide to enhance the security of transactions originating at wireless and Internet Protocol point-of-sale payment terminals is approaching, but some in the industry say many firms that could be affected aren't paying attention. On Sept. 1, Purchase, N.Y.-based MasterCard will require that newly-installed wireless …