Fintech

Consumers are complaining less about the way credit card companies treat them following the 2010 implementation of the Credit Card Accountability, Disclosure and Responsibility Act, new survey data from Consumer Reports suggest.

LAS VEGAS–The banking industry has lost the battle against debit interchange regulation several times over, but some executives are still fighting the good fight.

LAS VEGAS–Bank of America Corp. believed customers would appreciate the simplicity and “transparency” of its move to introduce a $5 monthly debit fee in the same way they responded to its sweeping decision last year to eliminate debit-overdraft protection, a BofA executive told attendees today at the ATM, Debit & Prepaid Forum.

LAS VEGAS–The same criteria financial institutions used to determine a debit network partnership before the Durbin amendment still should apply in its aftermath, network executives agreed here Nov. 2 at SourceMedia’s annual ATM, Debit & Prepaid forum.

In maneuvers that could boost the future outlook of mobile banking and payments, Monitise PLC has received an investment from partner Visa Europe and has strengthened its U.S. operations by acquiring Monitise Americas shares owned by bank technology provider Fidelity National Information Services Inc., or FIS, the London-based mobile payments provider announced Oct. 31.

A glimpse of what some say represents the future of payments has arrived, but thus far only in certain geographic areas. With the Card Case smartphone application from Square Inc., consumers pay simply by saying their names at the point of sale.

LAS VEGAS–Mobile-wallet providers Google Inc. and Isis continue to position their products as more than just payments vehicles to replace plastic cards.

An estimated 650,000 consumers have closed their bank accounts and opted for credit-union membership over the past four weeks, according to Credit Union National Association, bringing the approach to the Nov. 5 Bank Transfer Day to a crescendo.

MasterCard Worldwide has entered into a partnership with Taiwan-based online retailers PayEasy Co. Ltd. and GoHappy Co. Ltd. to offer a cross-border shopping service, the payment card brand announced Nov. 1.

Alfa-Bank has received Russia's first certification for Visa Inc.’s payWave contactless-payment platform for credit and debit cards.