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Processors

Welcome to the News View for "Processors".

Here, on these archive pages, you'll find all of the articles on Payments News for Processors listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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March 24, 2014

Headline News from PaymentsNews.com - March 24, 2014

On the Web:

On the Wires:

  • Milestone moment for V.me by Visa as fifteen leading European payment service providers join forces to promote the service to retailers - "Visa Europe has today announced new partnerships with fifteen European Internet Payment Service Providers (IPSPs), giving the V.me by Visa digital wallet service access to their extensive e-commerce merchant portfolios, and supporting the continued growth and availability of the multi-market wallet service."
  • Nordea to divest all its shares in Nets Holding A/S - "As the payments industry is becoming increasingly complex and international, Nets needs a strong experienced owner with a clear strategic vision to take the Company to the next level of its development. Nordea believes its divestment and the new owner will be beneficial for the Company and the customers of Nets."
  • Statement on Credit Card Processing Issue - California Department of Motor Vehicles - "There is no evidence at this time of a direct breach of the DMV’s computer system. However, out of an abundance of caution and in the interest of protecting the sensitive information of California drivers, the DMV has opened an investigation into any potential security breach in conjunction with state and federal law enforcement."

Updates from Glenbrook:

September 16, 2013

Headline News from PaymentsNews.com - September 16, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!
  • Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
  • Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
  • Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

August 26, 2013

TSYS to Support PayPal's Expansion to Physical POS

Tsys logo 140pxTSYS has announced it has entered into an agreement with Discover to process PayPal payment transactions within the contiguous United States.

“We are extremely pleased to support PayPal’s expansion into more physical merchant locations. We believe PayPal provides merchants and consumers more choices and helps reach new consumers at the point of sale, relying on our robust payment transaction processing platforms, as well as other value-added products and services,” said Mark Pyke, president of TSYS’ Merchant Services segment.

“We anticipate the addition of PayPal as an added benefit to both merchants and consumers.”

According to TSYS, "PayPal offers consumers several advantages, one of which is that PayPal can serve as a single source to access customers’ credit or debit cards, bank accounts, PayPal balances, or Bill Me Later payment methods all stored in their PayPal accounts at a point-of-sale terminal."

Headline News from PaymentsNews.com - August 26, 2013

On the web:

On the wires:

Updates from Glenbrook:

August 22, 2013

Headline News from PaymentsNews.com - August 22, 2013

On the web:

On the wires:

Updates from Glenbrook:

July 24, 2013

Headline News from PaymentsNews.com - July 24, 2013

On the web:

On the wires:

Updates from Glenbrook:

  • We've redesigned our web site - be sure to check out the fresh new look at glenbrook.com!
  • Glenbrook's Payments Boot Camp! - A special summer session of our popular Payments Boot Camp - in Half Moon Bay on August 6th and 7th is ALMOST SOLD OUT! We're also leading a half day course on Data In Payments - August 8th, also in Half Moon Bay. Join Carol, Scott and Russ for lively, interactive sessions - register now!
  • Join our mailing list for updates about Glenbrook events.
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  • Follow us on Twitter: @paymentsnews and @paymentsviews

July 11, 2013

MCX Selects FIS as Processor for New Mobile Commerce Payments Network

Mcx logo 140x60pxMerchant Customer Exchange (MCX) has announced the selection of FIS to provide a suite of services as part of MCX bringing a new mobile commerce solution to the marketplace.

MCX said that:

"FIS will provide MCX with world-class payment processing, routing and settlement for mobile commerce transactions. FIS’ technology will seamlessly integrate with the mobile wallet software being developed for MCX by Gemalto. By leveraging FIS’ payments network infrastructure to authorize and execute transactions in real-time, MCX is dedicated to secure and instantaneous payments for their solution. MCX will offer consumers a personalized payment experience complete with offers, promotions, loyalty and other services."
In a separate FIS announcement, MCX said:
“When we were looking for a payments network partner, FIS was the standout choice,” said MCX’s Dodd Roberts. “FIS’ ability to deliver a payments network that meets MCX requirements, coupled with their depth of payments knowledge, experience and expertise embody what MCX will offer its customers – a cutting-edge, highly reliable, versatile mobile payments network platform.”
MCX also announced that Kohl’s Department Stores and Alimentation Couche-Tard Inc.’s U.S. convenience stores branded Circle K, are the latest merchants to join MCX. These two new additions follow earlier announcements that included Phillips 66, Southwest Airlines and Brinker International, Inc., among others joining MCX.

May 11, 2013

Headline News - May 11, 2013

On the web:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

March 03, 2011

Galileo Unveils Cloud Computing for Payment Processing

Galileo logo 140pxGalileo Processing has announced a "new suite of solutions that enable payment card issuing banks and payment card program managers to leverage the power of cloud computing while ensuring they meet required levels of security, performance, availability and regulatory compliance."

December 14, 2010

eCommLink Releases Global Prepaid Debit Processing Platform

ecommlink_logo_140px.pngeCommLink has announced he release of its new global processing platform, the "first of its kind to support the full array of international payments. The architecture of the new platform enables simple localization of the processing engine based on regional regulations, language, currency and processing standards while still offering the flexibility and robust feature set that has made eCommLink's legacy platform so successful."

April 19, 2010

WAUSAU Financial Systems Introduces Health Care Remittance Service

WAUSAU Financial Systems has announced an outsourced health care remittance processing service - the Healthcare Revenue Cycle Management Service - that that company says "makes it easy for financial institutions of any size to process complex commercial health care payments without investing in the technical infrastructure, people and expertise required to build this capability." READ MORE »

September 28, 2009

eCommLink Closes $10 Million in Additional Funding

eCommLink, a value-added prepaid processor, has announced that its investors, led by Syntek Capital, have provided $10 million in additional funding to support eCommLink’s domestic and international growth plans. READ MORE »

September 21, 2009

Transaction Times - Credit/Offline Debit vs Online PIN-based Debit

stopwatch_140px.jpgOver on his Payment Systems blog, Andy Orrock, COO at On-Line Strategies, shares some insights into transaction times for various payment card transaction times from a large merchant.

I found the time difference between credit and offline debit cards vs. online PIN-based debit cards to be interesting with PIN debit taking 1.6 times longer. Andy shares his explanation of the timing difference in the comments.

July 23, 2009

Prepaid Card Processor TxVia Raises $15.5M in Series C Financing

TxVia_logo-140px.jpgTxVia has announced it has raised $15.5 million in Series C financing, led by Bain Capital Ventures. Also participating were all current institutional investors, including Espírito Santo Ventures, High Peaks Venture Partners and Village Ventures. New York City Investment Fund joined as a new co-investor.

According to the firm, "the funding follows important milestones for TxVia, including successful large-scale client deployments of the company’s groundbreaking platform-as-a-service (PaaS) delivery model for prepaid card processing. Today, TxVia has more than five million reloadable and nonreloadable cards on file in both B2B and B2C prepaid applications." READ MORE »

January 27, 2009

Heartland Says It Accelerates Development of End-to-End Encryption

Heartland Payment Systems has announced that "it has formed an internal department dedicated exclusively to the development of end-to-end encryption to protect merchant and consumer data used in financial transactions. For the past year, Robert O. Carr, Heartland's chairman and chief executive officer, has been advocating for payments industry adoption of this technology - which will protect data at rest as well as data in motion - as an improvement for payment transaction security." READ MORE »

January 15, 2009

Austin Ventures Partnership to Form Payments Processing Company

Austin VenturesAustin Ventures has announced the acquisition of three companies and the subsequent formation of Century Payments Inc. (“CPI”) in partnership with CEO-in-Residence Robert Wechsler.

The new company, headquartered in Dallas, Texas, will focus on providing growth capital strategic assistance to merchant service providers (“MSPs”) and on building best-in-class sales forces to support our network of distribution partners. AV has committed up to $50MM of equity capital to support management’s strategy of additional acquisitions and organic growth. Mr. Wechsler will lead the new organization as its President and Chief Executive Officer.
READ MORE »

January 06, 2009

Prepaid Products-Align Processor Relationship With Strategic Goals

Javelin Strategy & Research has just released a new report titled "Prepaid Product Evolution - Align Processor Relationship With Strategic Goals" written by Bruce Cundiff. From the abstract:

"This Javelin research report makes use of consumer data analyzing the propensity to use prepaid products, and also in-depth interviews with prepaid program managers at financial institutions and other third parties to understand the key components of a prepaid processing relationship and how prepaid program managers must approach the establishment of such a relationship. "

December 18, 2008

MasterCard Adds First Global Prepaid Customer to IPS Platform

MasterCard Worldwide has announced that Swiss Bankers Prepaid Services Ltd. will become the first financial institution to use the global prepaid transaction processing capabilities of MasterCard Integrated Processing Solutions (IPS), the debit and prepaid processing platform introduced earlier this year. READ MORE »

December 02, 2008

Chase to Take Washington Mutual's Card Business In House

TSYS has announced that an agreement with JPMorgan Chase with respect to the discontinuation of the servicing of Washington Mutual Bank's (WaMu's) consumer card portfolio by TSYS. Chase will pay TSYS fees for deconversion and termination which both parties have agreed not to disclose. The deconversion is expected to take place in March 2009 after which Chase will process the WaMu portfolio in house on the technology platform it licenses from TSYS. READ MORE »

Visa Forms New JV for Payments Processing Outside US

Visa Inc. and Yalamanchili Software Exports (P) Limited have announced that they have formed a joint venture that they say "will allow Visa to extend its industry-leading processing capabilities in some of the fastest-growing payments regions in the world. Visa will have a controlling interest in the joint venture, named Visa Processing Service Pte. Ltd. (VPS). It begins operations this week and will serve existing processing clients." A new website at www.visaprocessingservice.com provides more information. READ MORE »

November 24, 2008

Javelin Looks at Prepaid Processors

Javelin Strategy & Research has announced results from a study of how a prepaid card issuer should assess and choose a processing partner in order to obtain the greatest success from prepaid card programs. According to Javelin, the processor choice is often overlooked and undervalued by prepaid program managers - but growth in the complexity of prepaid products underscores the importance of selecting the right processor. READ MORE »

September 08, 2008

Viewpointe Acquires PaymentsNation

Viewpointe and PaymentsNation have jointly announced that "Viewpointe has agreed to purchase the assets of PaymentsNation. The announcement follows the successful vote by the overwhelming majority of PaymentsNations’ members to approve the transaction. Terms of the deal were not disclosed. Both organizations are working diligently to complete the conditions of closing in the near future. When closing conditions are met and the deal is completed, the company will become a wholly owned subsidiary of Viewpointe, LLC." READ MORE »

August 12, 2008

First Data Wins Nordstrom Card Business

First Data Corp. has announced that it has entered into a new payment processing agreement with Nordstrom fsb, a wholly owned subsidiary of Nordstrom, Inc. and a federally chartered thrift savings bank.

"The seven-year agreement calls for First Data to provide card processing, call center and back office automation tools, fraud and risk management, customer analytics as well as e-statements and email alerts for Nordstrom's entire card portfolio including Nordstrom Visa, private label credit and debit cards and commercial cards for Nordstrom employees. The portfolio totals about 4.5 million card accounts on file. Financial terms of the agreement were not disclosed. READ MORE »

July 26, 2008

A Hometown Look at TSYS

Tony Adams writes for the Columbus, Georgia Ledger-Enquirer about TSYS - asking "can TSYS grow?"

July 24, 2008

ANZ, YALAMANCHILI Sign 5 Year Agreement for Prepaid Processing

YALAMANCHILI International and ANZ have announced signing a 5 year agreement for YALAMANCHILI to provide prepaid processing services to ANZ in the Asia Pacific region. The first prepaid card program issued under this agreement is the ANZ Stadium Visa payWave card. The card will be the first reloadable, prepaid contactless card in Australia and will be launched at ANZ Stadium in Sydney for the Bledisloe Cup on 26 July, 2008. READ MORE »

June 03, 2008

IP Commerce Raises $17 Million in Series C Financing

Denver-based IP Commerce has announced it has raised $17 million in Series C financing led by Venrock with Total Technology Ventures also joining as a new investor. The Company’s existing investors, Meritage Funds, Appian Ventures and Iron Gate Capital also participated in the financing. READ MORE »

May 28, 2008

CSC Powers MasterCard Debit, Prepaid Processing Platform

CSC has announced that "MasterCard Worldwide is using CSC's CAMS II Card & Merchant System to power its newly launched debit and prepaid processing platform, MasterCard Integrated Processing Solutions (IPS). The MasterCard platform provides a suite of debit and card issuer processing services that enables financial institutions to quickly expand their payments offerings across banking channels." READ MORE »

May 22, 2008

WAUSAU Financial Systems, ClairMail Partner for Mobile Lockbox

WAUSAU Financial Systems and ClairMail have announced an agreement to extend the mobile channel to WAUSAU's remittance processing solutions. According to the two companies, "by integrating ClairMail's Mobile Lockbox technology with its remittance processing managed service, WAUSAU will empower its customers to include payments via mobile phones as part of their receivables processing offering to their clients." READ MORE »

May 21, 2008

First Data, EUFISERV Partner for European Processing Expansion

First Data Corp. has announced that it has signed an agreement with EUFISERV and its fifteen shareholders (including twelve European banks and banking organizations) to expand and develop the European inter-bank processing network managed by EUFISERV. The two companies said that "connecting the existing networks of EUFISERV and First Data will create the opportunity for customers to access more than 74,000 ATMs, 1.5 million POS merchants and to reach more than 165 million debit and credit card accounts in Europe." READ MORE »

May 16, 2008

Metavante Gets First PABP Issuing Certification from Visa Europe

Metavante Technologies Ltd. has announced that it has been granted Payment Application Best Practice (PABP) certification from Visa Europe for both card issuing and transaction acquiring. Metavante Technologies Ltd., a provider of prepaid and debit card processing and licensed software in Europe, is part of Metavante, a U.S.-based provider of banking and payments technology. READ MORE »

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