Fintech

Varying opinions exist on how quickly mobile payments will grow in the U.S., but payments executives generally believe the technology could become a mainstream option for purchasing goods and services within 36 months, new survey data suggest.

Following its strategy to saturate the host countries of sporting events that it sponsors, Visa Inc. got an early start in Colombia in signing up merchants for marketing promotions in anticipation of the FIFA U-20 World Cup, which starts this week, PaymentsSource has learned.

Visa Europe’s credit card market share in the United Kingdom grew at a steady pace the past two years, and another favorable spike could occur leading up to the 2012 London Olympics, for which Visa is an official sponsor, a new report suggests.

HOLLYWOOD, Calif.-First Entertainment Credit Union placed some eye-catching signage on its Studio City branch-which turned out to be a little too eye-catching for some.

USAA has already processed nearly $4 billion in mobile banking transactions in the two years it has offered its Deposit@Mobile smartphone app. The company is now expanding this service, which lets customers deposit checks by snapping pictures of them with their mobile device, to the iPad 2 and plotting a new wave of digital banking products.

Two-year-old mobile payment startup Dwolla has gone from zero to $1 million per day in transactions.

Riding the credit card industry’s wave of better results caused by the improving economy and fewer account defaults, American Express Co. said second-quarter net income for its U.S. card Services unit rose 28.9%, to $665 million from $516 million during the same period a year ago.

Credit card issuers wanting to improve profitability in the wake of the recession could get better results by looking more closely at their own fraud cases to determine specifically which type of fraud criminals are perpetrating and how to stop it, new research from Experian PLC suggests.

If a hacker gets into the cash-register software of a restaurant, captures credit card information and sells it on the Internet to counterfeiters all over the world, it could take months or years for police to pinpoint the source.

NCR Corp. saw increased demand for its core services worldwide during the second quarter as the ATM and kiosk maker continued to put emphasis on marketplace innovation to help win new business.