Technology

Experian PLC this week unveiled an income model to help lenders comply with the new Federal Reserve Board rule clarifying elements of the Credit Card Accountability, Responsibility and Disclosure Act. The new rule requires issuers to consider only credit card applicants’ individual, not household, incomes (see story).

Three men who traveled to Honolulu from California last fall were charged with setting up card skimming devices at at least four local gas stations, then using the information to create counterfeit cards on six local credit unions and banks.

Telefónica O2 Germany GmbH’s customers now may purchase virtual and physical goods online using their mobile-phone number through a partnership the wireless carrier announced with Boku Inc. March 24.

The delay some lawmakers are seeking in implementing proposed new debit-interchange rules would represent a “huge handout” to large banks that do not deserve another bailout by consumers and businesses, Sen. Dick Durbin, D-Ill., told reporters March 24 during a teleconference outlining his opposition to a delay.

Union Bank of India Ltd. is partnering with Nokia India Pvt. Ltd. to launch a mobile-based payment service, a spokesperson for the Mumbai-based bank tells PaymentsSource.

Alexandria, Va.-based Pentagon Federal Credit Union said it is providing members with 5% cash back on every gas purchase paid for at the pump and 1% cash back on all other purchases with the use of its PenFed Visa Platinum Cash Rewards Card.

Spotting an opportunity to help hospitals improve patient-payment collection systems and to expand its relationships with commercial customers, Wells Fargo & Co. this month is rolling out an online health care payment product that integrates various functions.

Hewlett-Packard Co. wants it known that its business interests extend beyond personal computers and printers. They also touch the payments industry in a significant way.

Lloyds TSB Bank PLC later this year will begin issuing Visa-branded contactless debit cards to its accountholders within the greater London area, the Scotland-based bank announced March 23.

Payments-software company ACI Worldwide Inc. has acquired payments-software provider ISD Corp. for an undisclosed amount, a move that adds 140 retailers to ACI’s client base, Carolyn Homberger, ACI vice president of programs and operations, tells PaymentsSource.