Cards

Bipin C. Shah is credited with pioneering ATM networks, 24-hour ATM service, payroll debit cards, debit at the point of sale, cash-back with debit cards and pay at the pump. These days, he’s focusing his creativity on merchants.

WASHINGTON – The House easily approved a bill July 9 that would eliminate the requirement for the on-machine second fee disclosure at ATMs, the source of a growing number of legal claims against deployers of the machines.

Marketers of open-loop prepaid cards appear to have finally figured out how to promote their products to consumers. But government agencies and corporations also appear to be playing a key role in getting more of the cards to the masses.

LATHRUP VILLAGE, Mich. – Michigan First CU and RewardsNOW announced this morning they have developed a new rewards program that provides incentives for cardholders to purchase Michigan-made products and services or visit popular Michigan destinations when they redeem points.

The tom-toms are beating louder for action among issuers, merchants and processors in the U.S. migration to EMV smart card technology.

At first, Google seemed to have all of the necessary ingredients for a mobile wallet and Isis had the uphill climb of convincing banks to agree to a system designed by a group of telcos. Isis now has several top banks firmly behind it, but it faces many challenges as well.

Branch Banking & Trust Co. won reversal of a lower-court decision, allowing it to require arbitration in a consumer lawsuit involving overdraft fees charged by the Winston-Salem, North Carolina-based bank.

ATM industry players are reluctant to embrace the EMV secure card standard, according to a survey from the ATM Industry Association.

Commonwealth Bank of Australia is offering a social payments app called CommBank Kaching for Android handsets. The bank will also launch a Facebook app later this year.

For years, the payments industry has been waiting for Apple to disrupt the market with a payment-capable iPhone. Some are finally getting sick of the wait.

Consumers may not be pushing for stronger card security because they feel overly protected by the systems in use today. But they do face real costs for fraud.

Visa and MasterCard, the biggest payment networks, are prepared to settle a seven-year lawsuit brought by retailers to cut their credit-card costs later this month, three people briefed on the talks said.

PayPal is expanding the ways a smartphone's camera can be used to facilitate payments within its apps.

Preparing systems for the Single Euro Payments Area may be more complex and time-consuming than many European corporations and banks realize. To ease this complexity, SunGard is offering software to centralize payments management.

The Twitter account @NeedADebitCard shames people who post photos of their debit cards online — but as anti-fraud systems advance, how much danger is there from these photos?

Retailing giant Wal-Mart may be pulling American Express prepaid cards from its shelves due to poor sales, according to an analyst report from Jefferies & Co.

Global Payments is offering Planet Payment's Pay in Your Currency technology to merchants in Canada. Global Payments plans to offer a similar service in the U.S. later this summer.

Basketball legend and businessman Magic Johnson is once again putting his name on a prepaid card. This time around, Johnson's card has lower up-front fees and an emphasis on saving money.

"A burglar cannot rob 300 homes in one night, but a cybercriminal can attack 300 mobile devices at a time," said Dr. Markus Jakobsson, principal scientist, consumer security at PayPal.

Capital Bank of Rockville, Md., said it chose Fiserv's Premier core, as well as the vendor's credit card management, electronic bill pay, person-to-person payments and other services.