Technology

Isis, the mobile carrier-led mobile payments venture that initially planned to compete against incumbent payment networks, now has formed relationships with them, it announced July 19.

Citigroup Inc. plans to issue chip-based credit cards that adhere to the EMV Integrated Circuit Card Specifications later this year.

Union Bank of India Ltd. has signed an agreement with electronic payment services provider ElectraCard Services Pvt. Ltd. to set up an online payment gateway to help strengthen its presence in electronic payments.

U.S. Bancorp has increased its mobile-banking options for prepaid card customers.

Software vendor Aptys Solutions LLC has upgraded a program to make it easier for banks to use the Federal Reserve’s same-day settlement service for automated clearinghouse payments.

Continuing efforts to get its Serve digital wallet into consumers’ hands, American Express Co. has signed a deal with Sprint Nextel to put the payments application on the Sprint Zone website, where Sprint customers go to manage their mobile-phone accounts, Amex announced July 18.

Trying a new approach to prod consumer interest in contactless payment, U.S. Bancorp is testing a wrist gadget that combines tap-and-pay technology with an emergency medical notification device, the bank announced July 18.

Still on the fence about EMV? High uptake from an early adopter, the United Nations Federal Credit Union, is allowing it to expand the card's availability, and provides evidence U.S. cardholders really like to use chip and PIN cards when traveling overseas.

Germany's Federal Office for Information Security warned last week about a vulnerability in the way Apple's iOS devices such as the iPad, iPhone and iPod Touch deal with PDF files.

Mobile-based payment services could account for US$350 billion in payments and banking transactions in India by 2015, producing fee income that could exceed US$4.5 billion, a new report suggests.