Merchant

Consumers use debit cards more often than other payment options at the point of sale, but their use of cash is not far behind, suggesting that they continue to monitor spending to stay within their budgets, new research shows.

Credit unions and banks urged a federal appeals court in Sioux Falls, S.D., to act quickly to block the Federal Reserve’s implementation of debit card caps, which they insist will break thousands of credit unions or banks.

VeriFone Systems Inc.’s Paymedia add-on now enables gas stations to present advertising on their pumps’ screens, the terminal maker announced May 16.

Less than a month after introducing a 5% everyday discount on all private-label credit card purchases, Lowe’s Cos. on May 16 said the program is helping to shift certain sales from bankcards to its proprietary card.

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.

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.

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.