Technology

A government-appointed committee in India is proposing new mobile-banking guidelines to bring financial services to unbanked and underbanked individuals.

Prepaid card processor FNDS3000 Corp. has closed on a $500,000 private placement, the second scheduled portion of a $2.5 million, non-brokered equity financing agreement entered into in October and led by Sherington Holdings LLC, the Ponte Vedra Beach, Fla.-based company announced Jan. 31.

This story was updated from its original version.

Fawry Banking & Payment Technology Services Ltd. has signed a partnership deal with online prepaid payment provider cashU Inc. to support over-the-air reloading of cashU card accounts, the two Egypt-based companies announced Jan. 27.

For nearly every sales force in nearly every industry, selling based on price can be a losing game; someone is always willing to sell for less.

That Apple Inc. is targeting mobile payments is a foregone conclusion, but that doesn't mean banks must take a defensive approach.

A continued decline in credit card charge-offs indicates “the bleeding has stopped” from loans that went into default during the recession, but card lending is likely to remain sluggish in the near term, one analyst contends.

Various terminal makers have come out with their own devices and services designed to support payment card acceptance using mobile phones. But one independent sales organization has decided to do so on its own, and at least one observer says the company could succeed with the proper marketing.

The PCI Security Standards Council is seeking to broaden the scope of industry participation as it empanels its third set of new advisory board members since the initial board convened in 2007.

Verizon Wireless is working with two mobile payment companies to allow its customers to charge digital content purchases to phone bills.