Nashville, Tenn.-based iPayment Inc. this morning said it has appointed White & Case as its counsel of record in litigation in U.S. Bankruptcy Court in Los Angeles, in which it and certain of its officers and directors are defendants against allegations of fraud. The processor also repeated earlier assertions it …

There are 25 million people in the U.S. who have a regular income but don't have a bank account, says Vero Financial Group, Lake Oswego, Ore., and now the 2-year-old company has developed a card-based, biometric system to cash checks for this market that cuts transaction time and cost while …

About 14% of financial institutions that issue debit cards charge fees for PIN debit transactions, and in the past year 15% of debit card holders were subject to the fees, with somewhere between 10% and 15% of customers actually paying them. Fewer than 1% of banks, meanwhile, assess fees to …

American Express Co. Inc.'s decision to include eight banks as defendants in the lawsuit it filed earlier this week against Visa USA Inc. and MasterCard International Inc. may be a power play to weaken the bank card networks by widening policy differences between the networks and their major members, some …

In a bid to accelerate growth in its merchant base and in its transaction volumes, United Bank Card Inc. says it will give card terminals, check readers, and signature-capture devices free to merchants signed on by independent sales organizations contracted with the Hampton, New Jersey-based processor. The company, which says …

America Online Inc. will begin offering packages of premium content on its Internet service through new software from Valista Ltd., an Ireland-based payment software company, the companies announced today. The new solution allows AOL to target and price particular packages, or bundles, to particular audiences, with special promotional pricing and …

The Canadian Payments Association is planning to implement a new rule for clearing Internet transactions involving the electronic debiting of consumer accounts. The association hopes to finalize the rule in December, which if approved would take effect early next year, according to Roger Dowdall, vice president of communication and education …

As the PayPal Inc. online payment service returned to normal yesterday, its technical problems of the past several days have raised the specter in some circles of the company's non-bank status. Some observers, particularly bankers, have long argued that as a non-bank financial entity, PayPal is not bound by many …

MasterCard International announced today it will launch pilots of its PayPass electronic payment system on mobile phones from Motorola Inc. The Purchase, N.Y.-based card company says the pilots will get under way at a “variety” of unspecified locations in the U.S by the end of the year. The Motorola phones …

PayPal Inc. is in the midst of rolling out its first marketing campaign to sign up non-eBay merchants for its online payment service. Dubbed “PayPal for Business” and aimed at what PayPal considers small and medium-size Internet merchants, the campaign features a telemarketing effort, a direct-mail blast, and a new, …