Cards

The U.S. Federal Reserve was given a week to tell a federal judge its position on immediately rewriting regulations setting debit card swipe fees after a court found the current rule unlawful.

WASHINGTON – The Federal Reserve was given a week to tell a federal judge its position on immediately rewriting Durbin amendment regulations setting debit card swipe fees in the wake of last month’s ruling that the current cap is unlawful.

DALLAS – A new group of merchants, including Delta Airlines, Emerald Foods, Callaway Golf Sales, Duke Energy, Mens’ Warehouse, MGM Resorts and Travelocity, filed suit in federal court here yesterday claiming Visa and MasterCard are violating the Sherman Antitrust Act by operating under identical rules for card acceptance.

In another move to win over video game devotees, American Express Co. created a League of Legends-branded prepaid card, which could be more fitting than its earlier efforts to appeal to gamers.

The Federal Trade Commission has proposed additions to the Telemarketing Sales Rule that could have unintended consequences for the underbanked.

At a time when most mobile payment apps use virtual cards, QR codes or contactless payments, Dairy Queen is testing the more experimental location-based approach employed by Square and PayPal.

Chase Paymentech now offers a mobile checkout application and card reader as part of its Chase Checkout point of sale technology for small businesses.

Shopify is integrating payments processing with its online storefronts, enabling merchants to accept and manage Visa, MasterCard and American Express payments directly through Shopify.

PayPal offers no shortage of choices for loading their accounts, including Green Dot, MoneyGram, Coinstar and its own My Cash Card — but are consumers using them?

Chase Card Services says it will stick with the Isis mobile wallet venture as it prepares for a national rollout after nearly 10 months of testing. In doing so, the JPMorgan Chase unit also gives its endorsement to Isis' model of using Near Field Communication for contactless payments.

VeriFone has begun outfitting on-board payments systems on New York City's new street-hail livery cars.

EMV chips improve security over magnetic-stripe cards, but they have not been easy to implement. Years ago, a Forrester analyst said "the U.S. is going to adopt EMV in about the same way the U.S. adopted the metric system — somewhere between kicking and screaming and not at all." What have been the biggest hurdles?

MasterCard Inc. has launched its first debit card in Latin America for high-income customers.

Google reportedly plans to discontinue allowing consumers to use its mobile wallet for contactless loyalty and gift card redemption, the latest in a series of changes since Google Wallet's launch.

MORGAN HILL, Calif. – A San Jose man was arrested in his car in front of a Safeway here yesterday after he used one of 30 fake credit cards at the supermarket, most of them issued by Star One CU or Travis CU.

ATM operators have a lot at stake in the fallout of a federal judge's ruling last week that the Federal Reserve Board needs to review the debit fee caps and network routing mandates set under the Durbin amendment.

Sunrise Banks, based in Saint Paul, Minn., has never shied away from issuing an experimental prepaid card in its mission to help the underbanked find financial stability.

Russell Simmons is playing the part of a doorman and a cab driver in new TV ads for his prepaid RushCard, which is undergoing a rebranding this year.

Nicolas Huss will be the president and CEO of Visa Europe, replacing Peter Ayliffe, who is leaving the post in October.

As mobile wallets expand their services, they more closely resemble full-fledged bank accounts. And PreCash Inc. says it can do at least one job better than banks do today.