Competitive Strategies

The average ATM surcharge rose 4% over the last year, but the average foreign fee fell 2.5%, according to new data from research firm Bankrate Inc. Findings from Bankrate’s latest annual survey of checking-account fees, including ATM and overdraft charges, shows overall price increases have slowed, a possible indication that …

At first glance, it looks like a lopsided collaboration between competitors, but the agreement by which mobile point-of-sale upstart Square Inc. will integrate Intuit Inc.’s popular QuickBooks accounting software may end up benefiting both parties equally, some observers say. Under the deal, announced on Tuesday, users of the Square Register …

VeriFone Systems Inc. on Monday named Citigroup executive Paul Galant as its chief executive, ending a six-month quest for a permanent top executive. Galant replaces interim chief executive Richard McGinn, who assumed that role in March when long-time chief executive Douglas G. Bergeron left the San Jose, Calif.-based point-of-sale terminal …

By Jim Daly In its second major Google Wallet announcement of the week, search-engine giant Google Inc. today said it is bringing the digital wallet for the first time to Apple Inc.’s iPhone, a move that opens the wallet to tens of millions of potential new users. And like Tuesday’s …

By John Stewart n The good news for merchant processors is that the U.S. acquiring market will turn in a robust performance over the next five years, growing at an average annual rate of 10.5%. The bad news, at least for acquirers that remain wedded to conventional terminals and conventional …

It may well be the mobile-payments app provider you never heard of, but Paydiant Inc. is winning deals with major banks, processors, and merchants, and on Tuesday it secured $15 million in a Series C round of funding. The financing brings to almost $35 million the cash injections the Wellesley, …

  Eight years from their genesis, the lawsuits challenging bank card interchange now collectively known as MDL 1720 are scheduled to reach a milestone Thursday when U.S. District Judge John Gleeson convenes a so-called fairness hearing in his Brooklyn, N.Y., courtroom. The hearing’s purpose is for Gleeson to determine whether …

By John Stewart n Independent sales organizations are starting to feel squeezed by technology companies selling tablet-based point-of-sale solutions to merchants, according to terminal kingpin VeriFone Systems Inc. So VeriFone on Wednesday rolled out a tablet-based platform for its resellers that they can price and market to their merchants. n …

  VeriFone Systems Inc. continued on its road to recovery during its third quarter of fiscal 2013 ended July 31, a road that led the leading U.S. point-of-sale terminal maker through a sharp drop in revenues in some countries and ended with a $1.9 million loss versus a $37.7 million …

By Jim Daly The Isis mobile-payments service on Wednesday said five specialty point-of-sale hardware makers would integrate Isis’s SmartTap technology into their products. The companies join a number of major POS terminal makers, including U.S. market leaders VeriFone Systems Inc., Ingenico S.A. and Equinox Payments, already committed to supporting Isis …