Fintech

Two more banks have signed up for Secure Vault Payments, according to eWise Systems USA Inc., the Denver-based company working with NACHA, the electronic payments association, to offer the technology.

Global shipments of handsets with Near Field Communication technology should increase to nearly 550 million units by 2015, helped by the decision earlier this month by three major U.S. wireless carriers to partner with leading credit card companies on a mobile-commerce initiative, according to new IHS iSuppli research.

PayCommerce Inc. has integrated its cloud-based payments platform for small to midsize businesses with commonly used business software, the company announced May 10.

Consumer demand for credit is rising just as credit card issuers are relaxing their lending criteria, making way for new opportunities in credit card marketing, according to Federal Reserve Board data cited in a Tower Group report “Business Strategies for Credit Card Issuers to Address New Regulation and Increase Profits”.

Many small businesses in 2010 were hit particularly hard by fraud-related costs, suggesting financial institutions should do more to educate their small-business clients on fraud-prevention strategies, new research suggests.

To promote the use of electronic payments systems in the country, the Central Bank of Nigeria has set new limits on the amount of cash bank customers may withdraw at branches.

Vietnam Bank for Industry and Trade Ltd. will work with Saigon Fuel Joint Stock Co. to provide prepaid fuel payment card services, a spokesperson for the bank tells PaymentsSource.

Improved foreign-exchange rates and higher fuel prices helped improve the first quarter performance at fleet card provider Fleetcor Technologies Inc.

Seeing an opportunity from consumers who have unspent gift cards, ChargeSmart Inc. is working with gift card exchange firm Plastic Jungle Inc. to enable its customers to use value left in proprietary merchant gift card accounts to pay bills from its website, Tim Brinkman, the online consumer bill payment company’s CEO, tells PaymentsSource.

Credit card terms have not changed much in the past year, despite some concerns that issuers would hike interest rates and fees on new accounts to offset the effects of restrictions imposed last year under the Credit Card Accountability, Responsibility and Disclosure Act, according to new data from The Pew Health Group.