Technology

A new customer segment – the “first-time defaulter” – has emerged in the past two years and is presenting challenges for banks, according to a survey examining the future of consumer lending conducted by the Deloitte Center for Financial Services.

Think Finance wanted to give underbanked consumers access to credit when they needed it and help them avoid a bad cycle of debt.

VeriFone Systems Inc. is planning major investments in payment terminals with contactless readers built in as wireless carriers, card networks and banks proceed with mobile-payments initiatives.

Singapore’s telecommunication regulator, the Infocomm Development Authority of Singapore, has issued a “call for collaboration” seeking participation in the deployment of an interoperable Near Field Communication payments infrastructure in the country.

Advent International and Bain Capital have completed their acquisition of a majority interest in RBS WorldPay, the payment-processing arm of the Royal Bank of Scotland Group PLC, the two private equity firms announced Dec. 1.

Visa Europe is implementing ValidSoft Ltd.’s fraud-prevention technology, which uses the location of a consumer’s mobile phone to help prevent credit and debit card fraud, the card brand announced late last month.

Starbucks Corp. has begun a national rollout of the mobile-payment system it began testing more than a year ago, the company announced Dec. 1.

FICO announced on Wednesday the results of its quarterly survey of bank risk professionals indicate a credit gap that has hindered U.S. consumer spending is likely to continue well into 2011. Also, lenders are unlikely to meet the credit demands of small businesses in the near term.

Independent sales organizations and merchant acquirers wondering what steps they should take as VeriFone Systems Inc. prepares to buy Hypercom Corp., its chief U.S. rival in the point-of-sale terminal market, should remain patient, observers suggest.

The Dutch Central Bank has granted international payments provider GlobalCollect a Payment Services Directive license, making the company a certified payment institute, Amsterdam-based GlobalCollect reported on Nov. 29.