SAN ANTONIO - (03/11/05) -- Payment Data Systems Inc. saidThursday it has filed an application for patent protection with theU.S. Patent Office for technology that will enable the first billpayment using a debit card. The technology allows the cardholder touse their stored-value card debit or ATM card to pay local,national, or international bills using their electronic balance.Because the card is not linked to a credit union or bank accountthe technology would allow for 'unbanked' customers to pay theirbills. Payment Data Systems has already licensed the technology toSecure Cash Network for use. However, the technology can also belicensed by any provider or network, including MasterCard, Visa andAmerican Express.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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