Cards

Even if the Federal Reserve Board does not backtrack sharply on its debit-fee cap as a result of last week's court ruling, the legal battle has created fresh uncertainty that may have some U.S. issuers questioning their long-term strategy.

Alberta's government used Datacard Group's instant card issuance system to provide funds to residents who evacuated their homes following flooding in southern Alberta.

Virtual Piggy, which provides an online youth payment system, now offers digital gift cards on its website through a deal with the prepaid card company InComm.

Fifth Third in Cincinnati is selling $85 million worth of shares of the processor Vantiv, its former subsidiary.

The payments industry was thrown for a loop when a judge struck down the Federal Reserve Board's cap on debit interchange fees. It was the latest twist in a long-running saga that is far from over.

Though some issues remained, it seemed the card brands and debit networks were closer than ever to resolving their longstanding debate over EMV debit card routing when a federal judge potentially changed everything.

The Pulse debit and ATM network is working with mobile payment provider Paydiant to give banks a software-based mobile wallet with the bank's brand.

WASHINGTON – Sen. Richard Durbin, the architect of the controversial cap on debit fees, hailed yesterday’s court ruling striking down the Fed’s 2011 cap, saying the ruling will be good for consumers as it is expected to result in even lower debit fees charged to merchants.

True Link Financial Inc. has launched a prepaid Visa card for the elderly, with a set of customizable restrictions more commonly associated with cards designed for teens.

Customizable card designs are not just for people wanting photos of their cats emblazoned on their credit cards. Such an offering also has a role at government agencies to help combine ID cards and payment cards.

Retailers were singing the praises of a federal judge's ruling July 31 that the Federal Reserve Board overstepped its authority in how it capped debit-card fees. And banks were humming a different tune.

WASHINGTON – The credit union lobby is predicting this morning’s court ruling striking down the Durbin amendment’s swipe fee caps could have dire consequences for credit unions and banks.

Heartland Payment Systems Inc., which has been forging multiple partnerships in emerging payments markets, says its net revenue has risen to record levels.

The Federal Reserve disregarded Congress's intent when deciding how much banks can charge merchants for debit-card transactions, a judge ruled, rejecting Dodd-Frank-imposed regulations governing "swipe" fees.

WASHINGTON -- A federal judge this morning struck down the new limits on swipe fees for debit cards, ruling that the Federal Reserve had flouted Congress's intent when it set the cap.

Prepaid cards, widely accepted by the underbanked as a way to facilitate spending, are also emerging as a catalyst for saving and an alternative to short-term credit.

Visa and MasterCard have agreed to share their common application identifier technology, enabling EMV-chip based debit transactions to originate from a single application while allowing merchants a choice of networks for routing.

Prepaid card fees have plagued otherwise successful entrepreneurs and celebrity endorsers, including Suze Orman the Kardashian Sisters and Justin Bieber. But to prepaid card users, fees have left the spotlight.

In the payments industry, point of sale technology has become the "hottest area" of interest for companies considering an acquisition, according to the investment bank Berkery Noyes.

Commuters in San Francisco can now use their transportation-fare card to pay for parking in city garages.