Cards

RBC is giving up the revenue it gets from its $1-per-transfer service by offering free Interac transfers from all personal checking accounts, in effect betting that the relationship it builds with customers will be more valuable than its fee income.

It’s rare to see much fanfare around the launch of a mobile banking app these days. But for the U.S. Treasury Department, this milestone signals it’s nearing the end of its long quest to modernize the delivery of federal benefits—even for consumers locked out of traditional banking systems.

The world of payments is changing, and a lot of that change results from the dedication of innovative retailers. Whether partnering with payment companies or going it alone, these brands are putting fresh ideas into practice.

Capital One's rewards and marketing may cause some short-term performance issues, but the institution's aggressive posture is necessary in the current environment, the company's CEO said.

The hurdles to broader EMV adoption in the U.S. have many causes, but to the consumer the end result is typically the same: A longer payment process with no immediate gain.

The prepaid card industry is ramping up its advocacy efforts on Capitol Hill as the Consumer Financial Protection Bureau readies a final rule targeting such products.

It didn't take long for debit card issuers affected by the Durbin amendment fee caps to cut back or eliminate rewards programs to recoup costs. Issuers now engaged in the increasingly competitive credit card rewards and loyalty environment may soon have to face that same decision.

There's plenty of criticism of the U.S. chip card migration, including its pace, the pressure on merchants to upgrade and the lingering confusion over how to use the cards. But Visa painted a more bullish picture of the migration.

Issuers still have a choice of whether to require PIN authentication for EMV-chip cards, but David Nelms, chairman and CEO of Discover Financial Services, says the chip-and-PIN path increasingly makes the most sense for U.S. payment cards going forward.

Experts from across the payments industry gathered in Los Angeles for SourceMedia's annual Card Forum and Expo. Here are some of the biggest ideas discussed at this year's event.

The public spat between Green Dot and one of its largest shareholders is escalating even as the shareholder raises its stake in the prepaid card company.

BBVA Bancomer is partnering with media giant Univision to launch a digital money transfer service for the Hispanic population in the U.S.

Those suffering from a specific disease or just willing to participate in a clinical trial generally do so to advance research, but they also expect to get paid. Yet, delivering funds to trial patients is a chronic pain point with few remedies.

A taxpayer's annual refund is a big prize that fraudsters are eager to steal. Many new risks are being introduced by new technology, but there are cross-industry efforts to combat these new schemes and make sure each refund gets to the proper household.

Citi has expanded its ThankYou Rewards program to allow its reward points to be used directly for purchases at BestBuy.com.

Time has run out for “knuckle-busters,” the clunky contraptions merchants needed for decades to accept card transactions, but their legacy—the raised characters embossed on payment cards—is proving difficult to stamp out.

Card-not-present fraud is creating "silent revenue killers" for card issuers because many consumers will close their accounts after dealing with fraud from shopping online, new research indicates.

One of the biggest problems American travelers faced when chip cards became mainstream in Europe was buying tickets at self-serve kiosks in train stations. With no ticket attendant, travelers risked becoming stranded because their mag stripe cards weren't recognized.

The demise of the plastic Google Wallet card may be bad news for Google and anyone who keeps a balance with its digital wallet, but Amex and Simple both see something familiar, and attractive, in the card's audience.

When Starbucks’ new loyalty program rules go into effect this month, it will set the stage for a wave of new payments innovations with intriguing benefits for the coffee giant and its payments processing partner, JPMorgan Chase.