Cards

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.

Isis is seeking independent sales organizations to promote mobile payments to merchants in a test of its mobile wallet this year in Salt Lake City and Austin, Texas.

Russia's Neyva Bank has launched a virtual prepaid Visa card that is it issuing through its ATM network. And it completed the task in roughly two weeks.

NEW YORK – Target Corp., one of the biggest retailers in the country, joined groups including the National Association of Convenience Stores in opposing the proposed $7.25 billion settlement of a lawsuit brought by a group of retailers against Visa and MaserCard and a dozen large banks.

Many high-tech approaches to payments are short-lived. A lucky few get a second chance to disrupt the market.

Security and compliance are still daunting issues for merchants. Phoenix Managed Networks hopes to ease this pain by offering its network security product to "hundreds of thousands" of merchants through a new partnership with Sysnet Global Solutions.

Developing a mobile wallet for consumers is one thing. Getting those consumers interested and educated about how the wallet works and why they should use phones for payments is an entirely different matter.

Growth in the Americas and Europe help drive second-quarter revenue growth for the ATM maker's Financial Services unit.

Dollar General Corp. has begun offering Western Union general-purpose reloadable prepaid cards at its more than 10,000 stores in 40 states.

The several thousand visitors enjoying Hersheypark this summer can pay for everything they do at the amusement and water park with a flick of the wrist.

Google's decision to add Google Wallet to its new Nexus 7 tablet could break the limitations its mobile payment system has faced in reaching consumers. 

PayPal's decision to buy its mobile-pay tech partner Card.io sheds light on how the smaller company's technology is shaping the world of mobile payments.

U.S. Bancorp executives view the issuer's portion of the proposed $7.25 billion swipe-fee settlement, which some merchants are fighting, as an expense already incurred.

Visa Europe should match MasterCard's lower fees for credit cards to settle a European Union antitrust investigation, the EU’s antitrust chief said.

M-Via, which offers a mobile checking account called Boom, said July 18 that it closed a $17 million financing round led by Digicel Group Ltd. M-Via is also changing its name to Boom Financial.

The Durbin amendment in Dodd-Frank eliminated debit-network exclusivity, prompting heightened competition among the electronic funds transfer networks.The NYCE network, which is owned by FIS, already has benefited.

Kmart's new reloadable prepaid debit card will do double duty for both the mega-retailer and Green Dot Corp., which provides the card.