Payments/Credit/Debit

Fidelity National Information Services is purchasing Metavante Technologies Inc. for approximately $10 billion in FIS stock.

The inability of the card industry's data security standards, on their own, to protect cardholder data has drawn fire from federal legislators impatient with the number and frequency of high profile card data security breaches.

A spokesman for the Electronic Payments Coalition said retailers' latest efforts to intimidate members of Congress into cutting or capping card interchange reflected their desperation to find traction on the issue.

Retailers working to cut or cap credit and debit card interchange are shifting their efforts from members of the House Judiciary Committee to members of the House Financial Services Committee.

TMG Financial Services, the card portfolio purchasing arm of The Members Group has some card portfolios in which it hopes some credit unions will want to invest.

Heartland Payment Systems has threatened to sue competing processors seeking to lure its merchant clients away because of a 2008 security breach.