Cards

Visa Inc. chairman and chief executive Joe Saunders on Jan. 31 downplayed concerns over the costs associated with implementing its new digital wallet at the company’s annual shareholder meeting.

MCB Bank Ltd. has become the first bank in Pakistan to launch a EMV chip debit card in collaboration with Euronet Pakistan, a subsidiary of Euronet Worldwide.

ItzCash Card Ltd., a Mumbai-based prepaid cards provider, has launched a Visa-branded prepaid card with Development Credit Bank Ltd., the companies announced Jan. 26.

MasterCard Worldwide didn’t come right out and say it, but the card brand is encouraging U.S. issuers and merchants to embrace chip-and-PIN technology as part of a migration to the EMV smart card security standard in the next three years.

The recession left its mark on many industries, but if it had a silver lining for 7-Eleven Inc., it may have been the opening it created to get into a more-profitable array of financial-services products in response to shifting consumer demand.

The video-game industry is amping up its defenses after hackers penetrated numerous payments systems last year.

Identity security and mobile payments are driving merger-and-acquisition activity in the payments industry as large companies strive to keep up with each other and the latest technology.

As preparations unfold for the U.S. payment system to convert to smart cards, merchants across the country would prefer to see a clearer process established to reach that goal.

ATM maker NCR Corp. has bought a minority stake in uGenius Technology LLC.

Commuters on India’s Delhi Metro soon no longer will have to wait in lines to top up their prepaid transit smart cards under a new payments initiative the agency soon plans to launch.

This article adds information to an initial story that ran Jan. 27.

A second credit union has sued CUNA Mutual Group over a CUMIS Insurance Society bond the credit union says should reimburse it for funds lost in a $50 million fraud at ATM replenisher Mount Vernon Money Center, one of the biggest bank robberies in history.

A consumer using a PIN-debit card generally can count on a relatively high level of security and low level of technical problems associated with processing the transaction. Those have been the strong links in PIN-debit networks’ chains for years.

Green Dot Corp. will introduce a bank account with a traditional debit card attached to it later this year, Steve Streit, the company's chief executive and founder, said in an interview Jan. 26.

Discover Financial Services is bracing for a joint enforcement action from the Federal Deposit Insurance Corporation and the Consumer Financial Protection Bureau over the marketing of its credit card payment protection products, the company disclosed in a regulatory filing Jan. 26.

Vending machine companies aren’t the only ones concerned about how new debit interchange fees will affect small-ticket purchases. Transportation agencies moving toward contactless card or mobile-based payments for fares could certainly join that mix, considering many of their customers spend less than $10 per ride.

UniRush LLC is eliminating a string of fees for its reloadable prepaid RushCard and is launching a new pricing plan for customers, the card marketer announced Jan. 26.

Green Dot Corp. is working with the AARP Foundation to issue a MasterCard-branded prepaid card in mid-February, the card marketer announced Jan. 26.

I naively thought that Suze Orman's new prepaid offering, the Approved Card, would help turn the tide of negativity. Instead, it has had the opposite effect, creating a seemingly endless echo chamber about the evils of prepaid.

Foreign exchange transactions provider RationalFX has launched in China a local version of Xendpay, its online funds-transfer service, the company announced Jan. 23.