Fintech

State Bank of India Ltd. on July 28 became the first card issuer in the country to announce plans to convert its entire portfolio of magnetic stripe credit cards to EMV chip-and-PIN formats.

Continued strong performance in European and Latin America markets, combined with expansion into Asia, helped provide Ingenico SA with a double-digit lift in revenue for the first half of 2011, the French terminal maker reported July 27.

Providing comprehensive, bankwide rewards programs may do more to maintain customer loyalty than do debit card rewards, which some banks are looking to trim or eliminate because of reductions in interchange revenue, a new survey report suggests.

A new mobile-payment service in South Africa enables consumers to pay for purchases using their PIN-debit cards online.

MoneyGram International Inc. remains focused on reinvesting in its core business coming off a second quarter that saw it achieve double-digit growth in funds-transfer revenue, transaction volume and agent locations.

Starbucks Corp. is reaping the benefits of increased participation in its prepaid loyalty card program and its ongoing expansion into mobile payments in the U.S., the company said July 29 when announcing results for its fiscal third quarter.

Green Dot Corp.’s top executive says its reloadable prepaid cards will be exempt from the Federal Reserve Board’s new rule limiting debit card interchange.

Green Dot Corp. continued to expand use of its prepaid cards in the second quarter, posting a 26.5% increase in its number of active cards from a year earlier.

Double-digit growth in funds-transfer revenue, transaction volume and agent locations helped create a significant boost in MoneyGram International Inc. second-quarter net income

Visa Inc. is overhauling its pricing to spur merchants to route transactions its way and defend a dominant share of the U.S. debit card market, a position endangered by new regulations.