Fintech

Heartland Payment Systems Inc.’s shares rose as much as 9% in early trading June 9 after an analyst upgraded the payment processor’s stock on the expectation that it will benefit from the pending caps on debit interchange.

WASHINGTON — Although banks failed in their attempt to convince Congress to delay an interchange fee cap for debit cards, the financial services industry is not giving up, just changing venues.

A United Kingdom consumer-advocacy group is commending Monarch Airlines for dropping what it deems was an unfair debit card fee associated with ticket purchases. But whether Monarch’s move prompts other airlines to drop their similar fees remains to be seen.

Think Computer Corp. has added a contactless-payment capability to its FaceCash mobile wallet.

NEW ORLEANS–One of the prevailing themes of this year’s Mobile Banking Summit is there is nothing inherently wrong with plastic cards: A number of speakers, panelists and attendees with a major stake in mobile payments all acknowledge that physical cards work well, posing a steep hill to climb to get consumers to use their phones to make payments.

Consumers now may use China UnionPay-branded credit cards in Brazil under an agreement the card organization reached late last year with Brazil-based Itaú Unibanco S.A. that took effect in late May.

Abu Dhabi Commercial Bank Ltd. last week announced a free mobile-payment service that will enable its customers to make small-ticket purchases at merchant locations within the United Arab Emirates.

American Express Co. is trying to take prepaid debit cards, typically targeted at underbanked consumers, up market.

WASHINGTON — In a nail-biting conclusion after weeks of fierce lobbying by bankers and retailers, the Senate defeated a bill Wednesday that would have delayed the Federal Reserve Board's proposal to cap interchange fees for debit cards.

WASHINGTON – Credit unions and banks turned their focus to the courts this afternoon after the Senate narrowly voted down a proposal that would have delayed cuts in debit fees being enacted by the Federal Reserve.