On Track Innovations Ltd. and Atmel Corp. announced today they have received the first order for microprocessors in “commercial quantity” for MasterCard International's PayPass contactless payment program. OTI said it also expects orders for card readers to support rollouts of PayPass cards by issuers later this year. The two companies …

Card transactions based on radio-frequency technology got a major boost today with the rollout of MasterCard International's PayPass system to some 715 McDonald's Corp. restaurants in New York, Dallas, and Orlando, Fla. The stores will go live with PayPass later this year, MasterCard says, and an undisclosed number of further …

Defenders of interchange for electronic credit and debit transactions argue merchants are losing sight of the value interchange pays for. The subject of interchange has become hotly contested in the wake of lawsuits by retailers challenging it or aspects of it, and following recent interchange hikes by the bank card …

Following its agreement earlier this year with Chase Merchant Services L.L.C. for transaction-processing services, Burger King Corp. announced today it is deploying high-speed-capable card terminals in its restaurants across the country. In the past four months, it has installed VeriFone Omni 3750 devices in some 2,000 of its restaurants in …

Carl F. Pascarella's decision to retire in September 2005 as chief executive of Visa USA is being greeted in the payments industry with expressions of praise for his leadership in transforming the San Francisco-based bank card network from a one-dimensional credit card company into a force to be reckoned with …

Severe price compression in the merchant acquiring market drove together two major players and led to further consolidation in the merchant-processing business as Bank of America Corp. today announced it has acquired National Processing Inc.for $1.4 billion in cash. BofA says it will combine its Merchant Services unit with NPC …

Today's announcement by Wal-Mart Stores Inc. that the chain will begin accepting MasterCard International's signature-based debit card again, effective immediately, could spark more interest in non-bank debit networks among small and mid-size retailers, according to some expert observers. Although Wal-Mart and MasterCard refused to disclose terms of their agreement, it …

Pay By Touch, a San Francisco-based company that has been marketing a point-of-sale payment system that relies on fingerprint scans rather than cards or other devices to authenticate transactions, scored a sweeping victory today in litigation over the central patents to its technology. Judge Maxine Chesney of the U.S. District …

Winn-Dixie Stores Inc. is investigating a network glitch that caused “duplicate postings” Tuesday of debit card transactions secured by personal identification numbers at its stores, according to company representatives. The Jacksonville, Fla.-based supermarket chain, which operates 1,070 stores across 12 states in the Southeast, says the problem occurred from late …

A new national survey of debit card holders indicates a significant portion of consumers would be inclined to punish retailers and banks if they imposed fees or tried to restrict the range of accepted payment products. When asked how they would react if a merchant no longer accepted their debit …