Fintech

VeriFone Systems Inc. continues to show positive quarterly results in terms of revenue and net income, and company executives expect the trend to continue as contactless mobile payments grow worldwide and EMV chip-and-PIN takes hold in the United States.

SAN FRANCISCO – Biometric card manufacturer SmartMetric filed suit today against Visa and MasterCard claiming technology the card giants are piloting infringes on their patents covering chip-based “contact” and “contactless” smart card technology.

ACI Worldwide Inc. and Fundtech Ltd. are squaring off in a protracted and very public tug of war over a combination with S1 Corp., and the prize could go to either company.

Sallie Mae announced on Tuesday that it had introduced mobile banking to certain Apple products, allowing customers to manage their savings, money market and no-fee student checking accounts remotely. The student lender has wasted no time rolling out mobile check deposit, and lets customers deposit checks not only by snapping a photo with their iPhone or iPad, but also by using their "dorm room scanner."

Federal restrictions on debit interchange are still causing sleepless nights for many bankers — even those whose institutions are exempt from the new fee caps.

Joining a growing list of similar companies trying to move more cash payments to cards, Payment Data Systems Inc. will launch iRemotePay next month to meet growing merchant demand for a payment-acceptance option to use away from their actual stores or if they do business in outdoor markets.

An ATM packed with high-tech functions may seem like a science-fiction dream come true, but business realities may keep many of the fanciest features on the drawing board for years to come.

Following recommendations from India’s central bank urging the country’s financial institutions to issue chip cards, ICICI Bank Ltd. has begun to issue its first EMV-compliant credit card, the issuer announced Sept. 5.

American Express Co., which lately has been rolling out prepaid and digital-payment options to expand its audience, has added yet another product: an electronic gift card.

Many institutions are considering mobile phone-enabled check capture, a popular way of depositing checks in which consumers use their smartphones to take photos of checks to deposit them remotely.