Technology

MasterCard Inc. said April 15 that it has completed its purchase of the back-office prepaid card operations of Travelex Holdings Ltd. of London.

While applications that let consumers deposit checks via mobile phone are all the rage, some banks are finally getting around to upgrading remote deposit technology for its original audience: businesses.

Jeroo Inc. said it is testing a mobile payment technology called Scan&Ship Enterprise.

Citing increased consumer spending and improving economic conditions, Bank of America Corp.’s Global Card Services unit posted a sharp profit-increase during the first quarter ended March 31.

Minnesota’s TCF Bank filed a an expedited appeal request April 14 with the U.S. Court of Appeals for the Eighth Circuit asking the court to overturn a lower court’s ruling and to block the Federal Reserve’s pending implementation of the Durbin amendment’s debit fee caps.

WASHINGTON – A major technology group comprised of some of the biggest corporations shifted its position on the proposed delay in debit rules a week after expressing support for the delay.

Lawmakers from both political parties sharply criticized the banking regulators on Thursday for their risk-retention proposal, arguing it will lead to a credit crunch.

The fight over the interchange amendment heated up on Wednesday when Sen. Dick Durbin, D-Ill., sent JPMorgan Chase & Co. Chief Executive Jamie Dimon an open letter defending the provision.

Momentum for the EMV smart card security standard, common in many European countries, grew this week with JPMorgan Chase & Co. and Wells Fargo & Co. announcing plans to start issuing EMV cards to U.S. customers this summer.

For the major card brands, emerging global markets that broadly lack access to financial services likely will represent the greatest earnings potential for mobile-payments initiatives, concludes a report from Macquarie Equities Research Group.