Cards

Dramatic growth in transaction volume fueled by various new partnerships helped Monitise PLC to report significant gains in revenue and a profit for the second half of 2011, the London-based mobile-money services company reported Feb. 13.

President Obama's January 4th recess appointment of Richard Cordray as head of the director of the Consumer Financial Protection Bureau has threatened to set-off a contentious legal challenge in an already polarized Congress.

Bank of America Corp. says reports that circulated this morning saying the bank has delayed its launch of a mobile check-deposit application to the second half of 2012 are half true.

China UnionPay cardholders beginning in March may use their cards with online retailers based in Taiwan under an agreement the card organization reached on Feb. 8 with Taiwan’s National Credit Card Center, which is responsible for the interbank settlements of credit card transactions between card-issuing banks and retail merchants’ banks.

Who carries cash anymore? Just about everybody, it turns out.

Toronto-Dominion Bank is handing over the reins of its ATM fleet to Diebold Inc.

WASHINGTON–A coalition of credit-union and banking lobbyists joined the ATM industry in calling for legislation eliminating the need for a physical fee disclosure outside ATMs to stop the proliferation of lawsuits alleging violation of the Electronic Funds Transfer Act.

Several billion consumers and 35 million merchants worldwide take the enormous convenience and security of branded payment cards for granted.

Even two years ago, when the first U.S. financial institution committed to issuing secure chip cards, vendors said no one was lined up to follow. But times have quickly changed.

Bank of America customers in upstate New York were issued new debit and credit cards after a third-party breach possibly compromised their information.

At first, Heartland Payment System Inc.’s insistence it would give its merchant clients 100% of the savings from new, reduced debit-interchange rates sounded like a public relations move. But some observers weren’t convinced the processor would stick to its guns if that philosophy didn’t equate to solid financial numbers.

Visa Inc. may be seeing a slowdown in U.S. debit card sales-volume growth, but outside North America it is a different story.

Merchants in the United Kingdom stand to benefit more so than will consumers from a new contactless prepaid card that will allow either to spend or withdraw from their PayPal accounts without first transferring the funds to a bank account.

Three months into a new rule capping debit card interchange fees, market leader Visa Inc. is showing a modest slowdown in its U.S. debit business, but nothing on the order of the doomsday scenarios once predicted.

The option to make dinner reservations and simultaneously invite guests while withdrawing cash for the night out is coming soon to an ATM near you.

The Pulse electronic funds transfer network has launched a Debit Regulations Resource Center that will provide information on debit-related legislation, regulations and compliance matters, the Discover Financial Services unit announced Feb. 9.

Heartland Payment Systems Inc. on Feb. 9 reported a fourth quarter drop in interchange revenue caused by new federal rates for debit card transactions, but the processor still posted a sizable increase in net income.

India’s widespread highway network soon could see the installation of an electronic toll-collection system that would use radio frequency identification technology for accepting payments.

To improve merchant and consumer comfort with online spending, MasterCard Worldwide has formed a partnership with Silver Tail Systems Inc. to distribute Silver Tail's fraud-fighting analytics to merchants.

Visa Inc. has launched a mobile-banking product with Monitise PLC, pitting the card network against major technology vendors.