Technology

Online Resources Corp. is taking a less-is-more approach, consolidating many of the platforms bankers rely on after a series of poorly executed acquisitions gave it a hodgepodge of overlapping software.

As several banks test consumer response to higher ATM fees, the evidence is growing that financial institutions are getting bolder about exploring new sources of revenue as other channels threaten to dry up.

Online Resources Corp.'s shares fell more than 30% Wednesday morning after the banking technology vendor announced it turned its back on an unsolicited acquisition bid and reported a disappointing first-quarter earnings forecast.

WASHINGTON – Credit union and bank lobbyists hope to convince senators who voted overwhelmingly for last year’s Durbin amendment on debit interchange and may have buyer’s remorse to change their vote and approve a proposed delay.

Visa Inc. is making a bigger play in person-to-person payments by teaming with CashEdge Inc. and Fiserv Inc. for new options in money transfers to and from Visa cards.

Federal Bank Ltd. has become the latest bank to join the interbank funds-transfer service the National Payments Corp. of India launched last year, a spokesperson for the Kochi-based bank tells PaymentsSource.

Visa Inc.’s continued push to promote its card products in Latin America and the Caribbean region helped produce considerable growth for the company, as sales volume rose 28%, to $270 billion from $211 billion in 2009, according to the card brand.

WASHINGTON—The banking industry saw the first tangible signs of progress March 15 in its fight to overturn the Durbin amendment, as House and Senate lawmakers officially introduced bills that would delay implementation of a plan to restrict interchange fees on debit cards.

Payments-industry representatives rushed to throw support behind legislation introduced March 15 in the U.S. Senate that would delay implementation of new Federal Reserve Board rules that would cap debit interchange beginning this summer.

PayPal Inc. has paid LML Patent Corp., a wholly owned, indirect subsidiary of LML Payment Systems Inc., $7.5 million to settle a patent dispute that stemmed from an infringement complaint involving 19 other financial institutions, LML announced in a press release.