Cards

BALTIMORE–Rage against fees on credit cards, not bank accounts, drove more consumers to using prepaid cards as everyday financial tools, contends the chief executive at prepaid card giant Green Dot Corp.

As automated clearinghouse volume increases, securing ACH payments is becoming more difficult, particularly because mobile-payment providers and businesses are increasing their use of ACH payments to achieve speedy processing.

This is an updated version of an article posted earlier.

Targeting customers who may be afraid to use their debit or credit card or Internet banking service to shop online because of fraud concerns, the State Bank of India Ltd. has launched a virtual debit card.

NetSpend Holdings Inc. is reporting higher first-quarter revenue, but the prepaid card marketer experienced a loss it is attributing to expenses from litigation.

Visa Inc. lost a lot of its swagger when it revealed anemic debit card purchase-volume growth during the quarter ended March 31, plus the implications of a troubling Department of Justice investigation into the network's debit card policies that have irked merchants.

Nebo Djurdjevic figures recent developments affecting the cost of doing business in the U.S. payments industry have opened a door for his software company.

SAN FRANCISCO – Visa shares slumped almost 5% in after-hours trading yesterday after the cards giant disclosed the U.S. Justice Department is investigating the company’s fee changes made in response to debit interchange regulations that are part of the Durbin Amendment.

Cross-border spending and a healthier U.S. credit card market helped boost Visa Inc.’s fiscal second-quarter earnings, the card brand announced May 2.

MasterCard Worldwide says it’s gaining U.S. debit card market share, and it’s not being quiet about it. And why not? It’s been stuck hovering between a 20% and 25% share for a very long time.

Continued transaction-processing growth and an improved capability to process debit card transactions in the United States helped to boost MasterCard Worldwide’s first quarter earnings.

This story was updated from its original version.

A consulting firm that helps companies reduce their transaction costs is now flipping the model upside down to maximize acquirers’ pricing.

China UnionPay and Taishin International Bank Ltd. have signed a memorandum of cooperation to expand acceptance of UnionPay credit and debit cards in Taiwan, the companies announced last week.

BALTIMORE–Both sides of the U.S. payments spectrum generally are unhappy with government-mandated payment regulations and policies, but there is no clear consensus on a better approach to creating a level playing field.

Implementation of the Durbin amendment’s cuts in debit interchange fees cost the biggest issuers billions of dollars in lost revenues, according to a new survey published this morning by the Federal Reserve.

This story was updated with more information from its original version.

If Cardtronics Inc. was a sports franchise, its owners would be singing the praises of the team’s “balanced attack” on offense and how it translates to victories.

The Federal Reserve Board on May 1 published comparative information on the average debit card interchange fees that each payment card network charges acquirers (and indirectly merchants) and provides to debit card issuers (see release).

WASHINGTON – Implementation of the Durbin Amendment’s cuts in debit interchange fees cost the biggest credit unions and banks billions of dollars in lost revenues, according to a new survey published this morning by the Federal Reserve.