PaymentsSource

Today in Payments

• SEPA Continues to Challenge European Acquirers

  The most challenging and frustrating aspect of the Single Euro Payments Area project, according to a major German acquirer, is its goal of establishing common payment standards throughout Europe.

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  ZooZ's New Payments Engine Aims to Make Mobile Ads Click

  ZooZ is one several companies building new technology that attempts to improve the integration between marketing and mobile payments.
  
  "The players in the ecosystem haven't figured out how to monetize the banner ads that are inside mobile apps," says Noam Inbar, vice president of product development for ZooZ.

• New Visa President Looks Forward to Working with Banks,
  New Products

  Visa's hiring of former JPMorgan Chase executive Ryan McInerney to be its new president maintains the card network's bond with the top-tier bank.

• Target, Macy’s Sue MasterCard, Visa Over Card Swipe Fees

  Target Corp., Macy’s Inc. and other companies sued Visa Inc. and MasterCard Inc. over credit-card and debit-card fees after retailers objected to a multibillion-dollar settlement of a similar suit.

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  Square Expands to Japan as Its Staff Shrinks by Two

  Square announced expansion into Japan with updated Register features today, after seeing two executives, Alyssa Cutright and Alex Petrov, leave the mobile payments company.
  
  Square's expansion into Japan comes from a partnership with Sumitomo Mitsui Card Corporation, the company responsible for bringing Visa to Japan.

• Chase Paymentech Europe Takes Aim at Security
  Compliance Burden

  Chase Paymentech Europe, a merchant acquiring and processing subsidiary of JPMorgan Chase, has introduced a new service designed to lighten the security burden for European online merchants.

• Visa Names JPM's Ryan McInerney President, Gives
  Other Execs New Roles

  Visa has hired Ryan McInerney to be its president. McInerney, previously the chief executive of JPMorgan Chase's consumer bank, fills a position left vacant since John Partridge retired in March. Visa also appointed Elizabeth Buse and Bill Sheedy to new roles.

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  MoneyGram Takes a Multifaceted Approach to Its Growth Strategy

  As MoneyGram International sits solidly as the world's second-largest money transfer business, its growth strategy is focused on diversifying its product suite and capturing market share that remains untapped by MoneyGram and rival Western Union.

• 'Too Small to Fail' Mindset Spreads Among Bitcoin Entrepreneurs

  A turn towards small local Bitcoin exchanges could keep the digital currency out of trouble while preserving the self-sufficient ethos of the Bitcoin community.

• Virtual Piggy Adds Toy Store Clients in the U.K.

  Virtual Piggy is adding merchants in the U.K., setting up its youth money management and ecommerce system at Toy Galaxy and Toadstool companies.

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  Sprint's Boost Brings Mobile Wallet to the Underbanked

  Sprint's Boost Mobile prepaid phone service developed a mobile wallet as a way to provide financial services for its underbanked target audience.
  
  "There are many Boost customers that identify themselves as banking or credit challenged so we knew this would be a welcome feature," says Boost spokeswoman Jayne Wallace.

• ControlScan Adds Security to ConvergenceHealth's Software

  ControlScan is providing online payments security for ConvergenceHealth's digital- and cloud-based healthcare software and services.

• EBay Says PayPal on Track to Reach 2 Million Stores in 2013

  EBay Inc. said PayPal will be available in 2 million retail stores this year as it takes on Square Inc. and Intuit Inc. in the market for mobile payments.