Cards

This story was updated from its original version.

Mobile person-to-person payment options seem to be expanding exponentially, but who needs them?

If an online merchant or bank composed a fraud-prevention wish list, it likely would have two important factors right at the top: Confirm the customer is actually who he says he is, and make sure the device he is using to access our website matches his profile and hasn’t been used in previous fraud attempts.

Financial institutions are warming up to remote access service, in which customers use telephony and video technology to speak to a sales or service rep in another location, an option that solves problems such as reaching consumers in rural areas where branches are scarce or extending service to branches with little or no staff.

Bankers might still be waiting for Discover Financial Services to mount a credible challenge to meganetworks Visa Inc. and MasterCard Worldwide, but the smaller credit card company has been frying other fish in the meantime.

WASHINGTON–The Consumer Financial Protection Bureau's announcement Feb. 22 that it was targeting overdraft-protection practices was a stark reminder for bankers that even if they have already made significant changes, it is likely not enough.

NEW YORK–Bankers, consumer advocates and other industry members gathered on Feb. 22 to hear officials from the Consumer Financial Protection Bureau outline their concerns about overdraft practices.

Raiffeisen Bank in Vienna is moving into contactless payments though an initiative it plans to roll out in April called CardMobile.

Yet another emerging payment scheme sees an opportunity to claw at the soft underbelly of legacy point-of-sale payment systems, following in the footsteps of PayPal Inc., which is testing its traditionally online payment service inside Home Depot and Office Depot stores.

Aiming to provide a more modern and comprehensive service to its customers, Absa Group Ltd. plans to overhaul its ATM network in South Africa with new machines, the Johannesburg-based bank announced on Feb. 20.

More winners and losers are beginning to emerge from new debit card network-routing rules that go into effect April 1.

Credit unions and community banks served by The Members Group now have access to a fraud-prevention tool that adds flexibility for them and a more hassle-free experience for their cardholders.

The chief executive of Discover Financial Services is facing new regulatory challenges and has struggled to grow the network business. But he says his efforts to be “almost as good as MasterCard and Visa” seem to be working.

WASHINGTON — The Consumer Financial Protection Bureau launched an inquiry Feb. 22 into overdraft-protection practices, requesting data from a number of banks on their policies, terms and marketing of such programs.

A federal judge Wilmington, Del., has agreed to separate patent-infringement claims against a group of technology vendors and credit unions regarding a patent for card-customization technology and send them to different courts, creating three different venues for patent holder Serverside Group to pursue its claims.

Overcoming what Euronet Worldwide Inc. executives called regulatory, competitive and economic pressures, the international electronic funds transfer company on Feb. 20 reported strong fourth-quarter transaction growth and revenue increases.

To calm consumer fears about having card-account numbers stolen wirelessly, the University of Pittsburgh has developed a way to switch contactless cards off automatically when they are not in use.

Dollar Bank has chosen to install NCR Aptra Interactive Teller machines, NCR Corp. announced Feb. 21.

Delhi Metro’s smart card could soon be usable on other forms of public transport in the city if the various transport operators are able to reach an agreement regarding standards and fare collection.

NEW YORK–Litigation over controversial credit card interchange fees is likely to end in a settlement in favor of merchants, but members of the industry are still debating the size and conditions of the pact, according to a viewpoint consensus from a panel discussion this week.