Cards

Card payments account for more than two-thirds of all noncash payments in the U.S., and the number of checks written for payment is less than half of what is was a decade ago, according to the Federal Reserve Bank Services' 2013 payments study.

The credit-card issuer has agreed to loosen its restrictions on fees charged by retailers to consumers, following a similar move by Visa and MasterCard.

Target has confirmed the compromise of the credit and debit card data of 40 million Target shoppers and says the problem has been identified and resolved. However, thieves are selling the card account information as fast as they can on underground sites, according to security blogger and expert Brian Krebs.

Epay, a prepaid product provider and distribution network, is now offering its digital gift card through PayPal's Digital Gift store, which launched in early December.

MasterCard is tightening the screws around the use of prepaid cards as a way to pay employees. Some issuers will find its demands are straightforward and achievable; others may consider discontinuing the product.

Online bill pay technology developed with small business users in mind is lacking. But new offerings could provide companies with greater functionality, while also helping financial institutions reduce risk and build stronger customer relationships.

Prepaid payment network Blackhawk is offering a selection of electronic gift codes at Coinstar's coin-counting kiosks.

ATM owners and operators will watch closely and provide support from the sidelines as the new Debit Network Alliance seeks to resolve the industry's nagging EMV debit routing issue at the retail point of sale.

MasterCard released new standards that require companies that use payroll cards to provide educational resources, increased fee transparency and allow free access account information.

The Debit Network Alliance, formed this week through the collaborative effort of ten PIN debit networks, is seeking the membership and cooperation of other industry players, including the major card brands.

Moneris Solutions Corp. has expanded its gift and loyalty program, making it compatible with Apple's Passbook app, which stores other payment and ticketing apps.

The real mobile revolution in opportunity for small business payments is occurring not in consumer wallets, but on the other side of the counter, with disruption in the point of sale terminal market.

A new company has formed to tackle the pressing issue of routing EMV debit transactions in compliance with federal mandates, a task the payments industry has undertaken for nearly two years.

PreCash Inc. says consumers using its Evolve Money online and mobile application for cash bill payments will now have the option to use a debit or prepaid card.

Kiind has released a gift card in Canada that doesn't charge the giver until the card is used.

Square's Jack Dorsey sparked a price war over Japanese credit-card transactions with SoftBank Corp.'s Masayoshi Son. Entrepreneurs like Yukiko Kurano are the biggest winners so far.

Software updates have largely resolved the glitches that have marred the rollout of the new Ventra contactless fare system on Chicago's famed "L" trains, and the process of applying the same updates throughout the city's bus fleet will be completed this week, Chicago Transit Authority officials said.

JPMorgan Chase is warning 465,000 holders of prepaid cash cards that their personal information may have been accessed by hackers who attacked the bank's network earlier this year.

The Federal Reserve Board says it followed a proper system for establishing debit interchange caps and fully abided by the Durbin Amendment's requirement for merchants to have two unaffiliated networks to choose from for routing debit transactions.

The Fed's vision of a vastly improved payments system within 10 years is getting a chilly reception from a group representing the nation's largest banks.