Fintech

U.S. banks and merchants face mounting pressure to catch up with technology used in Europe, Asia and Latin America to secure credit- and debit-card data after tens of millions of Target Corp. customers were exposed.

A Virginia congressman is seeking a law that would provide consumers with prepaid card fee disclosures they can easily understand. But the industry doesn't operate in a one-size-fits-all manner.

Retailers are being inventive in their use of prepaid cards and mobile wallets to improve their store loyalty programs. Many are learning to use payments technology in ways that may change the way banks view their partnerships with merchants.

TD Bank is launching a new prepaid card to let parents monitor their teens' spending while easing young adults into financial independence.

The latest quarterly survey of U.S. and Canadian bank risk professionals found expectations for delinquencies on auto loans hit their highest level since Q4 2012, and expectations for delinquencies on credit cards reached their highest level in two years.

The EMV Migration Forum has recruited a test group of merchants, retailers and issuers to begin handling EMV-chip cards in Orlando, Fla., early to spot and fix problems before the card networks' deadline of October 2015.

JPMorgan Chase & Co. said it replaced 2 million payment cards after the breach of consumer data at retailers including Target Corp.

Better ATM Services plans to distribute its ATM-issued prepaid Visa cards through Advanced Network Inc.'s customers.

Walgreen Co. plans to expand the payments features of its combined loyalty and prepaid MasterCard, Balance Financial, with the goal of making it the preferred financial product of its underbanked customers.

Credit unions across the nation are moving up their EMV conversion timelines, considering more class action lawsuits against Target Corp. and calling on Congress to create rules requiring greater payment data security from retailers.