Slideshow 2013 So Far: The Biggest Headlines in Payments Technology

Published
  • June 27 2013, 8:35pm EDT
17 Images Total

(Image: ThinkStock)

PayPal/Discover Deal Goes Live

PayPal and Discover threw the switch on a deal that makes it possible for any Discover merchant to accept payments from a PayPal account. The arrangement vastly expands PayPal's reach at the point of sale. (Image: Bloomberg News)

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Starbucks' Stunning Stats

Starbucks, long seen as a pioneer in mobile payments, has begun to boast impressive results for its mobile payments app. It handles $4.5 million in mobile payments a week — over 10% of its U.S. payments are made from a phone. (Image: Bloomberg News)

A $1.4 Billion Bet on Prepaid

The payments processor TSYS put up $1.4 billion to buy the prepaid card marketer NetSpend, a bold move that also marks the first time the 30-year-old processor will sell a product directly to consumers. Pictured: TSYS Chairman, CEO Phil Tomlinson

Surcharges Start

As of January 27, the card networks now allow merchants to hit consumers with a checkout fee for using a credit card. The concession is part of the $7.2 billion swipe-fee settlement, which is still awaiting approval. (Image: ShutterStock)

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Square Takes Shape

Square isn't sitting still. The company unveiled its first major hardware revision this year, redesigned its mobile app, and expanded into Japan.

PayPal Here Goes Over There

Most mobile card readers from U.S. companies don't support chip-and-PIN payments. PayPal began offering a chip-and-PIN reader as part of its strategy for the U.K. Pictured: PayPal President David Marcus (Image: Bloomberg News)

Processors Targeted

Processors are juicy targets for hackers, and in May EnStage and ElectraCard Services were revealed to be the targets of a $45 million prepaid card crime spree. (Image: ThinkStock)

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Chase Merchant Services

JPMorgan Chase and Visa began a 10-year partnership called Chase Merchant Services, which JPMorgan Chase described as an initiative that lets it build direct relationships with merchants. (Image: Bloomberg News)

MasterCard's E-Wallet Fee

MasterCard made headlines with its planned "staged wallet fee," which requires companies like PayPal to pay a fee if they place their digital wallet between the merchant and the card network. (Image: Bloomberg News)

Big Departures...

Many CEOs left their companies this year, including VeriFone's Doug Bergeron, Diebold's Thomas Swidarski and Groupon's Andrew Mason. Square lost several execs, including co-founder Tristan O'Tierney and COO Keith Rabois. (Image: ThinkStock)

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...And Big Arrivals

Visa hired former JPMorgan Chase exec Ryan McInerney to be its president and put other execs in new roles. First Data hired Frank Bisignano, also a JPMorgan Chase exec, to be its CEO. JPMorgan Chase, in turn, hired former Elavon president and CEO Mike Passilla to be CEO of merchant services. American Express named a new CFO in Jeffrey Campbell. (Image: ThinkStock)

Bieber and Branding

Prepaid card companies are notorious for their celebrity endorsements, and the big one this year was Justin Bieber's agreement to promote the SpendSmart card for BillMyParents. Shortly after Bieber began promoting the company, BillMyParents changed its name — for the third time in four years — to SpendSmart Payments Co.

Fincen Takes On Bitcoin

The digital currency Bitcoin seemed to live outside of regulators' scope until Fincen weighed in. If a business handles bitcoins, it should be regulated as a money services business, Fincen said in March.

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MasterPass' Big Splash

MasterCard announced its digital wallet, MasterPass, in February. By June, the card network had entered a deal with the small-business service provider Web.com that made MasterPass a payment option at "tens of thousands" of merchant websites.

EMV Shift Meets Its Mark...

Acquirer processors faced a deadline of April 1 to be able to handle EMV-chip card transactions, and "most" were ready by that time, according to Visa. (Image: ThinkStock)

...But Debit Code Goes Undecided

The industry is struggling to decide on a common routing code for EMV debit card transactions. Some are starting to expect they will need to juggle three codes — from Visa, MasterCard and Discover. (Image: ThinkStock)