Technology

No one knew exactly how much revenue banks stood to lose from the new overdraft regulations. But nearly everyone assumed it was a big number.

The Federal Trade Commission is mailing checks to 14,023 consumers who were victims of ChoicePoint’s alleged failure to have a comprehensive information security program to protect consumers’ personal information, as required by a previous court order.

Obopay Inc. is trying to simplify its payments system with text messages.

Suppose your bank's retail customer wants to use a mobile phone to accept credit cards at a garage sale she's planning. MasterCard Inc. has an app for that.

Small-business owners’ confidence rose slightly in September, halting a three-month decline as more business owners’ cash flow improved, according to new survey data Discover Financial Services released Monday.

U.S. law-enforcement officials are investigating a security breach involving “a limited number” of PIN-debit terminals deployed at Aldi grocery stores, a spokesperson for the Batavia, Ill.-based company tells PaymentsSource. Aldi stores accept only PIN-debit transactions and cash for payment at the point of sale.

More consumers are using mobile phones to pay bills, but specifically how they are doing so requires more study, according Fiserv Inc., which identified the gap in information earlier this year when it polled 2,000 households as part of the technology company’s 2010 Billing Household online survey (see story).

The six-month deadline extension for Canada’s merchants to convert to EMV chip-and-PIN technology points to certain technical difficulties some have encountered during the lengthy process, observers say.

CardinalCommerce Corp. says it has developed technology to enable online merchants to offer consumers a PIN-debit payment option at the checkout screen or through a mobile phone, while Acculynk Inc. separately is building its Web-based PIN-debit payment service.

The PCI Security Standards Council this fall plans to launch a website dedicated to small merchants, which have asked the council for help in understanding how data-security measures affect them.