If mobile-payments services are finding a niche anywhere right now, it appears to be in the market for digital goods like games and social-network applications. Palo Alto, Calf.-based Zong Inc., which began operations last year, announced this week that the processing platform it shares with its parent company, Echovox Inc., …

A new payment system called BillMyParents debuted Monday that aims to tap an estimated $40 billion in potential online spending by teens and preteens, or “tweens.” But BillMyParents' success depends not just on technology, but also on the receptiveness of parents to receive e-mails or text messages from their progeny …

A bill to establish an enforcement framework for licensed online gambling operators to accept wagers from individuals in the U.S. was introduced on Wednesday in the U.S. House of Representatives by Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee. The legislation is designed to replace the controversial …

With its $50-million acquisition of Sunnyvale, Calif.-based software house Infonox Inc., TSYS Inc. has become one of a handful of transaction processors that are in the early stages of overhauling and upgrading their acquiring operations to support what many experts view as a coming explosion of volume as new payment …

The softening economy so far hasn't taken a big bite out of payment processors' earnings, but it is having some effects. Meanwhile, processors continue to streamline their operations, integrate acquisitions, and roll out new services. ? Reflecting the recent weakness in consumer spending, big merchant acquirer Heartland Payment Systems Inc. …

The struggle over the controversial Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) continues. Late last month, H.R. 5767, which blocked implementation of the UIGEA, was defeated in the U.S. House Committee on Financial Services. Meanwhile, a new bill related to online gambling was introduced this week by U.S. Rep. …

Nearly 18 months after President Bush signed into law the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA), regulators are still struggling to come up with rules to guide financial institutions and payment processors in blocking payments to online gaming sites. And if comments from the financial industry are any …

Obopay Inc. on Thursday announced four new businesses for its mobile-commerce application, bringing to six the number of companies using the Redwood City, Calif.-based processor's service to enable payments via handsets. The news follows Verizon Communications Inc.'s decision to adopt Obopay's application for mobile payments on its wireless network, which …

Intuit Inc. has notched yet another acquisition calculated to augment its widely used accounting software with electronic-payments capability by agreeing to pay $142 million in cash to buy Electronic Clearing House Inc. (ECHO), a publicly held, Camarillo, Calif.-based processor of card and automated clearing house transactions. The deal, which is …

Convinced that banks are ready to upgrade ATM capability to sell more products and services, San Jose, Calif.-based Infonox Inc. says it is piloting marketing-savvy machines with unnamed clients and plans to have at least one commercial deployment in progress within six months. “There's a dramatic shift in the banking …