Fintech

Discover Financial Services is getting into the person-to-person payments game with PayPal Inc. following the recent rollout of competing services from Visa Inc. and American Express Co.

A judge has denied the government's motion to dismiss TCF Financial Corp.'s lawsuit over debit fee regulation.

WASHINGTON — Bankers, lawmakers and other opponents of a rule to limit interchange fees on debit cards are making the most of the opportunity after the Federal Reserve Board acknowledged last week that it could not comply with an April 21 statutory deadline to finalize the regulation.

The top banks once uniformly processed large payments before small ones. Now they're processing high to low, low to high and everything in between.

The mobile-payment venture Isis, formed by major U.S. wireless carriers, is shaping its first major test around a lesson banks have learned with contactless payments: to change the way consumers pay, a payment system should change the way they get to work.

OCBC Bank (Malaysia) Bhd. is waiving the foreign fees it charges customers when they use ATMs of other financial institutions for two of its customer account types, a spokesperson from the Kuala Lumpur-based bank tells PaymentsSource.

The Federal Reserve Board on April 5 revealed more details about its 2010 payments study and found, not surprisingly, that debit and prepaid card were the largest growth areas for electronic payments between 2006 and 2009.

In most cases, checking accounts are a better value than are accounts tied to prepaid cards, new research suggest.

AUSTIN, Texas — Wal-Mart Stores Inc. wants more say over how businesses use the automated clearinghouse network.

Isis, the mobile payment venture founded by AT&T Inc., Verizon Wireless and T-Mobile USA, said it is opening up its network and preparing for a pilot next year.