Fintech

KINGSPORT, Tenn.-The secret to Eastman Credit Union's success requires a short trip down memory lane, according to CEO Olan Jones.

Danal Inc.'s BilltoMobile is launching a payment service for e-commerce sites to route payments through the phone bills of more than 200 mobile carriers across 60 countries.

The prepaid card industry has an image problem.

In another sign that U.S. consumer credit card issuers are beginning to see some new-account growth following the recession, Equifax Inc. on May 20 reported new bankcard accounts in February were up 28% compared with a year earlier.

Dramatic reductions in credit card bad-debt and total expenses, plus gains in customer use of private-label cards within its stores driven by a 5% rewards discount launched in October, helped boost fiscal first quarter profitability within Target Corp.’s Credit Card segment.

In concert with the release of new data indicating 40% of all payment cards and 71% of terminals worldwide now support the EMV standard, EMVCo LLC, the organization managing the EMV specifications, on May 20 released a new guide to help expand adoption of the chip-and-PIN technology.

CHICAGO–Evolving mobile technology is leading payment companies to develop new business models to capture revenue in a market many observers believe soon will offer enormous opportunities, executives said here May 20 during a panel discussion at the Federal Reserve Bank of Chicago’s annual conference.

The amount of online payment fraud occurring in the airline-booking industry is dropping, new research suggests.

Forming new partnerships with mobile-payments players is a top priority for Barclaycard, the new head of the issuer’s U.S. mobile business said May 19.

WASHINGTON — Although Senate leaders have confirmed they will allow a floor vote soon on delaying interchange fee restrictions, the timing, outcome and vehicle for suspending the proposed cap are still anyone's guesses.