Fintech

JPMorgan Chase and other banks are restricting debit card use by consumers potentially exposed to the retailer's recent data breach, according to reports.

Card payments account for more than two-thirds of all noncash payments in the U.S., and the number of checks written for payment is less than half of what is was a decade ago, according to the Federal Reserve Bank Services' 2013 payments study.

For banks, the most obvious reaction to the recent compromise of 40 million cards at Target stores would be to re-issue credit and debit cards to all customers who shopped at the retailer. But this approach doesn't seem to be universal.

Mozido LLC, a white-label mobile technology provider, is piloting a person-to-person payment method using Bluetooth Low Energy (BLE) technology, allowing users within proximity of each other to transfer funds with their mobile devices.

SAN DIEGO -- Mission Federal Credit Union says its "Mission Fed Money Match" program has been a great success and will be continued and expande d in 2014.

Card payments account for more than two-thirds of all noncash payments in the U.S., and the number of checks written for payment is less than half of what is was a decade ago, according to the Federal Reserve Bank Services' 2013 payments study.

The credit-card issuer has agreed to loosen its restrictions on fees charged by retailers to consumers, following a similar move by Visa and MasterCard.

Target has confirmed the compromise of the credit and debit card data of 40 million Target shoppers and says the problem has been identified and resolved. However, thieves are selling the card account information as fast as they can on underground sites, according to security blogger and expert Brian Krebs.

Retail giant Target confirmed Thursday morning that the credit and debit card data of 40 million of its shoppers has been compromised. The company says the problem has been identified and resolved.

Epay, a prepaid product provider and distribution network, is now offering its digital gift card through PayPal's Digital Gift store, which launched in early December.