Cards

Black-owned OneUnited is getting grief for its depiction of the abolitionist on a debit card; the bank plans $4.5 billion in cost cuts, with 35,000 jobs cut.

The U.S. telco sector has worked hard to control the mobile wallets developed on its phones. While its earliest efforts didn't last long, companies like T-Mobile and Sprint took decidedly different paths to reach where they are now.

Financial institutions and payment companies are embracing the cloud, but they hoped for better results, Maria Allen of Unisys contends.

Curve has decided to take advantage of the work done by the major mobile wallet brands by adding support for Apple Pay and the other major wallet apps. This addition is designed to make Curve, and the Pays, a workaround for banks that don’t support all three major mobile wallets.

A new report from PSCU shows increases in spending levels and transaction volumes, along with a surge in mobile wallet usage during the holiday shopping season..

Activist investor Starboard Value has built a position in Green Dot Corp. and may push for changes including a potential merger at the prepaid debit card company.

For the first-time, over half of all product and service purchase transactions in Russia were paid for using non-cash payment instruments.

Bank pilots and 'open banking' are paving the way for rampant adoption, says Fingerprints' Lina Andolf-Orup.

The bank raised its return-on-equity goals, based mostly on cost cuts and its core trading business; the Fed did raise the rate it pays on bank reserves.

With Synchrony smarting over the loss of Walmart and Verizon facing heat from T-Mobile's payment app, a card partnership was a natural fit.

Seeking to clarify how merchants and banks should handle PIN debit transactions, the Accredited Standards Committee X9 and PCI Security Standards Council have created a unified standard.

Providing simple and rapid claims payouts is a competitive feature in the property and casualty insurance industry. Both Visa and Mastercard see insurance payouts as a use case for their respective card-to-card transfer services, Visa Direct and Mastercard Send.

Criminals will react to the EU legislation by changing their modus operandi, says Nets' Sune Gabelgard.

NatWest is partnering with prepaid card and business expense management provider Soldo to provide loans and working capital directly to Soldo's prepaid card users.

The specific impetus for the Federal Trade Commission's inquiry into Visa and Mastercard's debit transaction routing processes is not entirely clear, but it likely stems from the effect that advanced payments technology has had on Durbin amendment compliance.

Mastercard has appointed Raj Seshadri as president of its data and services organization, succeeding Kevin Stanton, who starts a new role as chief transformation officer.

Oklahoma lawmakers' decision last month to drop the state's surcharging ban was yet another signal that U.S. merchants have the final say in whether to apply extra charges to credit card transactions to offset interchange fees.

Comerica Bank won another five-year contract from the Treasury Department to run the prepaid Direct Express card program despite criticism of how it handled past fraud cases and customer service blunders.

Comerica will continue to handle the U.S. Treasury’s Direct Express prepaid card program, beating out other banks for the third time since the program launched in 2008, despite a high-profile glitch in 2018 that drew lawmakers’ scrutiny.

In seeking a more secure way for consumers to use payment cards when shopping online, Deutsche Bank, Mastercard and Idemia say they have launched the first motion code card in Spain.