Cards

The heat is on for prepaid debit card marketers to match one another on certain key services and features as competition between providers escalates.

Visa swung to a loss of $1.8 billion in the third quarter, as it paid its portion of a $6 billion settlement agreement with retailers that was announced earlier this month.

Visa posted a fiscal third-quarter profit that beat analysts' estimates as credit and debit card spending rose.

SAN FRANCISCO – Cards giant Visa Inc. reported a $1.8 billion loss for its fiscal third quarter this afternoon, because of expenses related to its historic antitrust settlement with merchants.

JPMorgan Chase's Disney debit rewards card was one of many that banks eliminated after regulation led to a slash in debit interchange revenue. Now the card is making a comeback — with a few changes.

As big companies lock horns to bring mobile wallets to the point of sale, smaller companies are focusing on a different opportunity — improving payments in mobile e-commerce.

U.S. Bank has bought a type of corporate credit card network for truckers from prepaid company TransCard.

Visa Europe may receive an antitrust complaint from European Union regulators over credit card fees, the EU's competition commissioner said.

Count ATM equipment among the fast-changing technologies in today's payments landscape, as ATM vendors and banks contemplate newer devices that can provide a wider range of services.

TSYS' net income rose in the second quarter by 24.4%, to $68 million, from a year earlier as it prepares for a strong pipeline of new accounts.

Wal-Mart and Target have vocally opposed the card networks' proposed multi-billion dollar interchange fee settlement, but even these giants may not have the influence to spike the agreement.

BENTONVILLE, Ark. – Retail giant Walmart joined opponents of the Visa/MasterCard antitrust settlement today, threatening to scuttle final court approval of the landmark $7.25 billion deal.

Western Union said growth in the Middle East and Asia allowed the company to overcome slowdowns in other countries. Prepaid revenue increased 6% in the second quarter over last year.

Mobile wallet rivals will need to put their differences aside and work together to get the technology off the ground, a recent paper says.

Wal-Mart said that it takes issue with the multi-billion dollar swipe-fee settlement the card networks proposed this month.

Consumers now may exchange value from 131 merchant gift cards for a virtual currency under a partnership Plastic Jungle has struck with InComm's Zeevex.

U.S. Bancorp has begun offering corporate clients the ability to use virtual account numbers to handle travel expenses.

As smartphones with Near Field Communication become more common, the global market for NFC payments will grow to exceed $180 billion by 2017, a nearly eight-fold increase from $23 billion this year, a new report projects.

Last year, Citi began processing check and automated clearing house transactions in order from the lowest dollar amount to the highest, a move that minimizes the potential for overdrafts. Today, it wants to make sure consumers — and perhaps regulators — haven't forgotten.

Bank of America Corp., targeting $8 billion in expense cuts, reduced its automated teller network almost 9 percent this year by yanking most of the devices deployed at U.S. gas stations and malls.