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TSYS Focuses on Tech Development, Anticipates New Prepaid Rules
Total System Services is close to beginning tests of new products and merchant services, and is already seeing a benefit from last week's launch of Apple Pay. But in prepaid, a significant business for the processor, TSYS is still awaiting new rules from the government.
TSYS CEO M. Troy Woods
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Image: Bloomberg News
A number of large retailers are pushing back against Apple Pay, making clear the power merchants wield in the developing mobile payments market. more »
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Bank of America was quick to address an early issue with double-charging Apple Pay users, but the damage to consumers' perception of mobile payment technology may prove to be longer-lasting if more glitches occur. more »
Ashe Pay CEO Teddy Shim
Transactions have long been free for consumers, but Ashe Pay is betting that consumers are willing to pay a $1 monthly fee to be part of a network that allows instant payments to vetted merchants. more »
Image: Bloomberg News
The White House is slated to unveil a major package of initiatives on Friday to increase data security for financial transactions, including an executive order to add chip-and-PIN technology to government-issued credit and debit cards. more »
Nacha president and CEO Janet Estep
Opinion
The financial industry is making payments better, more efficient, simpler—and faster. more »
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As Federal Reserve Bank leaders continue to study the business case and complexities of establishing a faster U.S. payments system, FIS contends its past experience in other countries makes its technology the right fit for the initiative. more »
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Banking and payment technology provider a FIS has completed its acquisition of payment processor Clear2Pay, a transaction it started early last month. more »
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First Data made four executive appointments as part of its diversification beyond payments processing to include a broader set of merchant services. Its updated lineup, announced Oct. 1, creates new roles for Barry McCarthy, Andrew Gelb, Sanjiv Das and Adam Rosman. more »
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Bank of America plans to issue chip-based debit cards to customers next month, signaling a resolution of the long-standing issues plaguing EMV debit card issuance in the U.S. more »
Barbara Pacheco, senior vice president of the Federal Reserve Bank of Kansas City.
Even though the U.S. has suffered a flood of retail data breaches, the payments industry has to take a global view of any security measures it adopts. more »
Fifth Third Bancorp has combined several business divisions into a new unit focused on payments, as the Cincinnati company continues its gradual exit from its former payments unit, Vantiv. more »
Steve Streit, founder, chairman and chief executive of Green Dot.
Green Dot plans to acquire Santa Barbara Tax Products Group (TPG) for about $320 million, a move that will allow the prepaid card provider to add tax refund processing services through partnerships with tax preparers. more »
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Global Payments Inc. has reached an agreement to buy the payments technology company Ezidebit, which operates in Australia and New Zealand. more »

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