Cards

Commerce Bancshares Inc.'s banking unit has agreed to pay $18.3 million to settle a class action involving overdraft fees.

You scratch my back, I'll scratch yours.

From the beginning, Asian countries have been ahead of the curve in testing and deploying mobile-payment systems.

Diebold Inc. has begun installation of 12 new ATMs featuring advanced self-deposit and denomination-acceptance capabilities in The State Bank of Canton Ticino in Switzerland, the ATM manufacturer announced Dec. 22.

Douglas Bergeron was focused in the fall of 2010 like a laser on a single goal–orchestrating his company's hostile acquisition of Hypercom Corp. Bergeron had already built VeriFone Systems Inc. into a force in point of sale terminals. Its card-reading devices graced countertops of retailers in dozens of countries.

A Northern Michigan gas-station owner wanted to give his cash-paying customers the freedom to fill their cars’ tanks first, then pay. But when dishonest drivers skipping the payment process became a problem, he decided to take a different approach.

After the sale of U.S. Central Federal Credit Union’s electronic banking services to Co-op Financial Services, National Credit Union Association on Dec.22 said it will move forward with plans for an orderly wind-down of the other U.S. Central services in 2012.

It took about 15 years, but the U.S. prepaid gift card market this year will reach $100 billion in total account deposits for the first time, pushed over the milestone mark by the emergence of e-gift cards, a new TowerGroup report predicts.

For all the controversy Russell Simmons has created with his prepaid debit cards, the company behind the products continues to add features that mimic traditional checking and savings accounts.

Banks have long been putting ads for their own products on ATM screens, but a startup insists there is a market for showing third-party ads in exchange for waiving fees.

Knee-jerk reactions by investors to news about the European debt crisis and the shrinking value of the euro have sent stock markets on a roller coaster ride globally. And a new treaty signed by euro zone countries giving the European Union authority to reject a country’s national budget and order a redraft if it does not meet targets designed to ease the debt crisis has heightened their apprehension.

A 21-year-old New York woman pleaded guilty Dec. 19 to her role in an ATM-skimming scheme that affected 11 banks and credit unions across southern New England.

Debit, it appears, still has some staying power, though market conditions are causing it to spasm.

Myriad payments companies this year created presence on such social media sites as Facebook and Twitter. But while it was important to roll with the times, the effort may not help to create long-term loyal customers.

Does an ATM-locator application need to have sex appeal?

Most executives in the prepaid debit card market agree any future federal regulations that demand better disclosures on products are good for the industry.

MONROVIA, Calif.- For the past twelve years, Steve Streit has relished his spoiler role among bankers. But now he has joined their ranks.

Intuit Inc. has officially launched a prepaid card account where even unbanked merchants and individuals may deposit their GoPayment sales, the company announced Dec. 20.

JPMorgan Chase & Co.'s vast ATM network is about to get a little bigger.

Eastern Europe gets a bad rap when it comes to payment card data security, but the region does not experience considerably more hacking-attack incidents than do other parts of the world. But it is a main source of such incidents, an industry analyst contends.