Fintech

The question of whether an exemption for banks with less than $10 billion in assets is sufficient protection from the Federal Reserve Board’s proposed new rules for debit-interchange pricing loomed larger than ever during a May 12 Senate Banking Committee hearing during which a lawmaker grilled the nation’s top two banking regulators.

WASHINGTON – Federal Reserve Chairman Ben Bernanke told Senators this morning he is doubtful whether the Fed can develop a rule adequately protecting credit unions and small banks from the cuts in debit fees mandated for the biggest banks.

WASHINGTON – Federal Reserve Chairman Ben Bernanke told Senators this morning he is doubtful whether the Fed can develop a rule adequately protecting credit unions and small banks from the cuts in debit fees mandated for the biggest banks.

With sales of mobile devices outpacing their distribution of debit and credit cards, banks in some countries are looking at new ways consumers may access cash at ATMs.

SAN DIEGO–A future fraught with change is coming into focus, with electronic messages replacing merchants’ ads in the local Gazette, mobile payments proliferating and even the smallest retailers getting an affordable opportunity to link the point of sale to inventory replenishment.

SAN DIEGO–No one has brandished a crystal ball, but payment-terminal makers here this week at the ETA Annual Meeting & Expo still have had plenty to say about the future.

SAN DIEGO--The financial services industry, now at the height of an expensive national campaign to delay the so-called Durbin amendment, was urged Wednesday to do the opposite: contact elected officials at home to explain the local effects of the legislation.

There are now several companies offering merchant-funded rewards programs that could help banks compensate for the loss of payment card revenue to tightening regulation. Only one has a name that's almost certain to grab consumers' attention: FreeMonee.

Total System Services Inc.’s TSYS Acquiring Solutions subsidiary has signed an agreement to provide security services on its platform for Caledon Card Services.

Wincor Nixdorf AG has promoted Oliver Weber to be the chief executive of the ATM maker’s U.S. operations, the Germany-based company announced May 11.