Cards

WASHINGTON -- The Federal Trade Commission has asked Visa for information regarding possible violations of new rules for debit-card processing that took effect under the Dodd-Frank Act’s Durbin amendment, the card company said this afternoon.

SCVNGR's LevelUp is targeting a broader audience for its mobile-payment system by working with the prepaid card marketer NetSpend. The partnership represents new territory for both companies.

Junk food and beer are staples at every sports game, and the KFC Yum! Center in Louisville, Ky., is adding another one: mobile payments with SCVNGR's LevelUp.

As more banks offer prepaid cards, some are tying the cards' pricing to other relationships with the bank — a decision that may send the wrong message to the underbanked consumers most likely to use prepaid.

Ingenico SA, a French provider of payment terminals and services, is seeking takeovers to expand outside Europe, said Chief Executive Officer Philippe Lazare.

As preparations continue for the migration to the EMV chip-card standard in the United States, payments companies must ensure that point of sale terminals are compatible with both card networks’ standards and the myriad card issuers on those networks.

Mobile apps from Starbucks and Dunkin’ Donuts may prove useful for on-the-go coffee guzzlers, but their approach may not translate well to other retail environments. A few companies are taking a different approach to modernizing payments for sit-down restaurants and other merchants.

In an effort to foster innovation, the Consumer Financial Protection Bureau is launching a data driven initiative that will intially involve several financial-services startups.

Fifth Third Bancorp now offers its own prepaid card, called Access 360, which carries a $7 monthly fee and provides free cash withdrawals from Fifth Third Bank ATMs.

Powa Technologies, Europe’s answer to Jack Dorsey’s Square, is considering an initial public offering after its U.S. competitor raised $200 million from investors including Starbucks.

Citigroup is offering price-conscious shoppers a new way to save – by promising partial refunds on certain credit card purchases if it can find a better deal.

Blackhawk Network is taking its Gift Card Mall, a common sight in retail stores, into the digital world.

Bitcoin enthusiasts, playing off the holiday tradition of Black Friday sales, held their own Bitcoin Friday last week, leading to a spike in Bitcoin transactions at some — but not all — participating merchants.

NEW YORK – The National Association of Convenience Stores, the Association for Convenience & Fuel Retailing, and other plaintiffs in the 2005 antitrust suit against Visa and MasterCard are preparing a legal challenge of Friday's ruling granting preliminary approval of a $7.2-billion settlement in the case.

Visa Inc. continues to bolster its V.me digital wallet service, announcing that 50 more banks and credit unions will adopt the service.

Consumers thinking of giving gift cards for the holidays may find a better bargain with store cards instead of those issued by banks and credit card companies.

Bank of America is launching a Square-like card-swiping device for smartphones called Mobile Pay on Demand. The service will be marketed through B of A’s Atlanta-based joint venture with First Data, Bank of America Merchant Services.

FOSTER CITY, Calif. – Visa announced this morning that 50 financial institutions—more than half of them credit unions--have launched Visa’s V.me new digital wallet service, which frees online shoppers from having to repeatedly enter account numbers, bill-to and ship-to information at checkout, in time for holiday shopping.

Small retailers still aren’t catching on to the Payment Card Industry data security standards, according to recent survey results.

Expanding its partnership with ChinaPay, Western Union is allowing institutions of higher education and universities to accept student fees and international tuition in the Chinese Renminbi.