Heartland Payment Systems Inc. will be releasing additional information on the recent data breach of one of its payment-processing platforms, though “I can't tell you how soon,” says Robert Carr, Heartland's chief executive. The Princeton, N.J.-based merchant acquirer in January announced that malicious software, or malware, had been secretly planted …

Among its many damaging effects, financial fraud threatens the growth of online payments and banking and could drive consumers away from banks and toward electronic payment systems they perceive as more secure, such as PayPal. Those are some of the conclusions in a new report from technology research and consulting …

The Accel/Exchange electronic funds transfer network has signed up a handful of issuers for an Internet-based PIN debit pilot that processed its first transaction, for $9.49, on Wednesday, according to Michael Kelly, general manager of the Morris Plains, N.J.-based network, a unit of Milwaukee-based bank processor Fiserv Inc. Kelly says …

The U.S. alternative-payments market has already attracted a slew of startups over the past few years, and now it's drawing even more competition from overseas. Paymate Global Inc., the U.S. arm of Australian processor Paymate Pty Ltd., earlier this month completed its integration with eBay Inc.'s checkout system and joins …

Reports of yet another merchant-acquirer data breach are speeding around the Internet, but the card networks have not confirmed them publicly. Nor has any processor been identified. Merchant-acquiring sources, however, tell Digital Transaction News that multiple processors may have been breached in recent months. The non-profit Open Security Foundation, an …

A new chief executive has taken over at merchant processor RBS WorldPay Inc. just as news erupted this week of a major worldwide ATM fraud that relied on card data stolen from the processor's system last year. Ian Stuttard took the helm of the Atlanta-based company, a unit of Royal …

Nearly one week after news emerged of the big data breach at Princeton, N.J.-based merchant acquirer Heartland Payment Systems Inc., it remains unclear how much damage actually happened and who did it. One report suggests Heartland's breach-related legal liabilities could approach $98 million, an estimate a Heartland spokesperson dismisses as …

As merchant acquirer Heartland Payment Systems Inc. and federal investigators continue to probe the data breach Heartland disclosed on Tuesday, evidence is building that banks and credit unions around the country are reissuing cards on a mass scale as a likely result of the breach. That could give credence to …

Merchant acquirer Heartland Payment Systems Inc. reported on Tuesday that it has found malicious software on its processing system, the result of a breach that happened in 2008 but which Heartland says is now contained. The malware captured an unknown quantity of card numbers and expiration dates along with a …

This is the second installment of a six-part series on how Web 2.0 developments are likely to transform the payments business. Web 2.0 is still in its infancy, and skeptics about its business models abound. Meanwhile, most online merchants are still scrambling to shore up and extend their current Web …