Several media outlets are reporting that Vantiv, formerly Fifth Third Processing Systems, has filed IPO paperwork to go public. Vantiv is now jointly owned by Fifth Third Bancorp and Advent International. Reuters has a good overview of the news. The Vantiv website is here.

Fifth Third Bank has announced the introduction of its Duo Card.

The Duo Card is a combined credit and debit card providing customers the convenience of conducting all card transactions with one plastic. Fifth Third Bank is the first card issuer in the U.S. to offer this dual functionality and the Duo MasterCard cards are now available.

Consumers control the funding source (DDA or line of credit) using the debit and credit buttons on the card reader, effectively entering their PIN for debit or signing for credit.

On the web:

• Justice Department Seeks OK for Pact With Visa, MasterCard - Wall Street Journal
• What is NFC, and why do we care? - Engadget
• SK C&C USA, InComm Will Let Merchants Offer Mobile Payments - Bloomberg
• Citi Says Many More Customers Were Affected by Data Theft - New York Times

On the wires:

• Fifth Third Processing Solutions Changes Name to Vantiv
• First Data Rebrands UK Acquiring Business to First Data Merchant Services
• Report Says Cash is King When it Comes to Credit Card Incentives
• VoiceTrust Expands With Mobile Payments in the Middle East
• Study Finds Mobile Check Deposit Top Reason to Switch Primary Banks
• ThreatMetrix Launches New “ThreatMetrix Fraud Facts”

On the wires:

• Compass Plus Introduces TranzWare Online Universal Payment Gateway to Speed Interface Development
• NetSpend Selects Actiance's Socialite SaaS Platform to Ensure Compliance and Security of Social Media Channels
• Magellan Navigates to Merchant e-Solutions for Payment Processing Services
• GearHost Selects Host Merchant Services for Credit Card Processing
• FiftyOne Partners With DHL to Deliver Superior Global eCommerce Experience
• New Aite Group report on eCommerce Hosting Providers
• Fifth Third Processing Solutions Expands Suite of Security Solutions
• eBillme Delivers 50% Lift in Consumer Acquisition at Mwave

On the web:

• ReadWriteWeb: Google and Ingenico to Develop NFC-based Mobile Coupons
• Bank Technology News: Bulls Run Wild for Mobile Payments
• Rethink Wireless: Nokia Enlists Angry Birds to Drive NFC

Fifth Third Processing has announced the introduction of eCommerce Plus, "a technology platform which allows online merchants to securely transact with authenticated payments and alternative payment brands. Along with traditional credit card acceptance, merchants can now offer customers multiple payment options such as PayPal, Checkout by Amazon, Google Checkout, and more, through one easily deployable interface."

Fifth Third Processing partnered with CardinalCommerce on the solution.

On the wires:

• CHARGE Anywhere Turns Google Nexus Phone into NFC Payment Acceptance Terminal
• hyperWALLET Announces Support for SEPA Credit Transfers across Europe
• Litle Vault PayPage Removes All Merchant Exposure To Card Data During Online Acceptance
• Accertify is Selected by Abercrombie & Fitch for Online Fraud Prevention
• Nine Credit Unions Select Fiserv for Account Processing
• Fifth Third Processing and Planet Payment to Launch 'Pay in Your Currency' on ATMs
• Heartland Delivers Wait Management and SMS Marketing Solution to Restaurants with Freshtxt

On the web:

• Springwise: Snap a Photo of a Bill, Then Click to Pay
• Mobile Commerce Daily: PayPal Mobile Payments Growth
• Mashable: Starbucks Card Mobile Is a Hit: 3 Million People Pay Via Phone App
• New York Times: As Phones Become Wallets, Many Have Hands Out

Fifth Third Processing Solutions, together with IP Commerce, has announced the availability of e-Similate, an "open payments platform and workflow engine designed to facilitate the delivery of Fifth Third Processing Solutions' comprehensive set of payment transaction processing and acceptance solutions to the software developer community."

Two payment-related themes are emerging from NRF conference being held this week in New York: POS encryption/tokenization and mobile payments acceptance. For retailers, end-to-end encryption and tokenization are all about reducing PCI scope:

• Heartland's End-to-End Encryption Solution Reduces PCI Scope by up to 69% for Merchants
• BevMo! Retail Chain Reduces PCI Scope with VeriFone’s VeriShield Protect
• Fifth Third Processing Solutions and MTXEPS Partner to Support ServerEPS Encryption Solutions
• Ingenico and Merchant Link Partner on Point-to-Point Encryption and Tokenization Solution

• VeriFone Announces PAYware Mobile Enterprise Solution and Services for Large Retailers
• GoPayment Gives Small Businesses Free Credit Card Reader and No Monthly Service Fees
• Xsilva Systems Demonstrates that Mobile Point of Sale is Accessible to Retailers of all Sizes

CashEdge has announced that Fifth Third Bank will launch Popmoney, CashEdge’s person-to-person email and mobile payments service, to its customers. The service will be offered online through Fifth Third’s online banking platform www.53.com beginning in mid-2011.

Fifth Third and Bling Nation have announced that any financial institution that is part of the Fifth Third Processing Solutions network can now enable Bling mobile payments services for their debit card customers.

Fifth Third Processing Solutions announced it has signed a definitive agreement to acquire National Processing Company (NPC). "The acquisition of NPC expands Fifth Third Processing Solutions' best-in-class capabilities and facilitates the delivery of the Company's innovative electronic payment solutions to Independent Sales Organizations (ISOs) and agent banks, strengthening its position in the SME segment and establishing the Company as a major player in the third party and agent bank referral channels."

Acculynk has announced that is has entered into an agreement with Fifth Third Processing Solutions' Jeanie Network to offer Acculynk's Internet PIN debit solution, PaySecure, to Jeanie participants this year. READ MORE »

Fifth Third Bank and MasterCard have announced the availability of MasterCard Purchase Control for Fifth Third's commercial clients - a tool that provides control and flexibility in payments management. With MasterCard Purchase Control, Fifth Third Bank will offer corporate clients enhanced global controls and increased transaction security that combines an integrated preapproval process with secure virtual account numbers. READ MORE »

In an article titled "New Features, and Fees, for Checking Accounts" in the New York Times Bucks blog, Jennifer Saranow Schultz writes about Fifth Third Bank's pricing strategies involving packaging services together in lieu of providing free checking. She asks: "What services would you be willing to pay for if only your bank would offer them? Or would you rather just have free checking?"

Revolution Money has announced that Fifth Third Bank has joined its Revolution Money network as an issuing bank. According to Revolution, "the combination of Fifth Third Bank’s card-issuing capabilities with Revolution Money’s marketing and customer servicing and communication capabilities will provide a robust platform for expanded adoption of RevolutionCard."

Revolution Money Chairman Ted Leonsis appeared on CNBC this morning to discuss the deal with Fifth Third. He was joined by Jim Robinson III, former Chairman and Chief Executive Officer of American Express, who recently invested in and joined the board of Revolution Money and Steve Case, Co-Founder of AOL and Chairman of Revolution, LLC. READ MORE »

MasterCard has announced that Fifth Third Bank is now issuing the World Debit MasterCard card - which MasterCard calls "the industry’s only premium debit card that provides U.S. consumers with access to enhanced rewards, unique offers and savings opportunities and greater purchase protection. By offering World Debit MasterCard to its customers, Fifth Third Bank is now providing a custom-tailored debit product that meets the unique, everyday spending needs of its high-spend and reward-seeking debit cardholders." READ MORE »

Fifth Third Processing Solutions has announced that it has entered into an agreement to provide a patient payment system from mPay Gateway to its physician practice customers. According to the company, "mPay Gateway's software solution enables health care providers to calculate the patient's share of a bill for service and obtain payment authorization before a patient leaves the office, eliminating billing hassles and reducing bad debt by up to 50 percent. The patient is actually charged only after the health care provider settles with the insurance company." READ MORE »

Western Union and Fifth Third Bank have announced an agreement to offer the Western Union global money-transfer service at Fifth Third’s more than 1,300 banking center locations in 12 states. The Western Union global money-transfer service, a new service offering for Fifth Third accountholders and walk-in consumers, will be available in the next several months. READ MORE »

MasterCard Worldwide has announced a multi-year contract extension with Fifth Third Bank for it to continue its partnership with MasterCard, issuing Credit and Debit MasterCard cards for both consumers and corporations. READ MORE »

Fifth Third Bancorp and Advent International have announced entering into a definitive agreement whereby Advent International will acquire a 51% interest in Fifth Third's processing business through the establishment of a joint venture that values the new company at approximately $2.35 billion before valuation adjustments by either party. Fifth Third will retain the remaining 49 percent interest in the new company, Fifth Third Processing Solutions, LLC. READ MORE »

In an article by Peter Lattman and Dan Fitzpatrick, the Wall St. Journal reports that "Fifth Third Bancorp is expected to announce Monday that it has agreed to sell a majority interest in its payment-processing unit to private-equity firm Advent International Corp." According to the article, Advent will pay Fifth Third $561 million in cash for 51% of the business. Apparently both Visa and MasterCard dropped out of the bidding for the Fifth Third unit.