Technology

VSoft Corp., a provider of popular remote deposit capture technology, announced May 23 it is partnering with Mitek Systems Inc. to provide Mitek’s patented Mobile Deposit to financial institutions leveraging VSoft’s Agile Mobile Capture service.

A federal court has approved a $410 million payment by Bank of America Corp to settle lawsuits accusing it of charging excessive overdraft fees to roughly 1 million customers.

Higher fuel and food prices in April led to a cooling in consumer spending, according to economists surveyed by Bloomberg News ahead of a U.S. Commerce Department report set for release on Friday.

As consumers become more comfortable with such technologies as unlocking a car from inside the house to recording movies remotely they are becoming more interested in using mobile phones for payments, survey data from MasterCard Worldwide suggest.

Delay or customers will pay — from new deposit charges to merchant fees.

Heartland Payment Systems Inc. has introduced a service that streamlines payroll data, credit card sales and credit card tip data for restaurateurs at the point of sale, the transaction processor announced May 23.

Square Inc. is expanding beyond mobile card acceptance with a new service that allows consumers to initiate payments through its application.

Bank skepticism of the Isis mobile payments joint venture was high when the wireless carriers leading the initiative announced its formation last fall, but Isis says it has calmed early suspicions and now is working closely with major banks and payments companies.

Barclaycard and wireless-network operator Everything Everywhere Ltd. on May 19 officially launched the United Kingdom’s first contactless mobile-payment system, which uses a pay-as-you-go handset from Samsung Group. But its success could hinge on merchant acceptance of the technology continuing to grow.

Lawyers for the Federal Reserve told a federal appeals court Friday in South Dakota that expectations by Minnesota’s TCF Bank for a continued revenue stream from debit transactions are not dependent on the free market but on card giant Visa, which paid the bank $100 million in debit fees last year.