Cards

U.S. consumer interest in using mobile phones to make purchases and in receiving incentives and coupons to shop at retailers has doubled since last year, new research suggests.

The casino industry is turning a corner, but the long-term impact of the so-called Durbin amendment on Global Cash Access Holdings Inc.’s revenues remains unclear, executives from the company told analysts during a Nov. 9 conference call to discuss third-quarter earnings.

After analyzing the mobile-banking offerings of the top 25 retail banks by deposits, Javelin Strategy & Research has declared that JPMorgan Chase & Co. has the best, followed closely by Wells Fargo & Co. and Bank of America Corp.

Near the end of the Federal Reserve Bank of Chicago’s one-day payments symposium Sept. 26, Wal-Mart Stores Inc.’s Jamie Henry posed a question that had yet to be answered during the previous eight hours.

Global Cash Access Holdings Inc.’s revenue and net income continued to decline in the third quarter as a result of losing its largest customer, Harrah’s Entertainment, late in 2010, the company announced Nov. 9.

Mobile Money Network has landed a major retailer to participate in the initial phase of a mobile-payment software application launch that will enable United Kingdom consumers to purchase products for home delivery from any location by typing a product code into their phones, the London-based mobile commerce company announced Nov. 4.

The Western Union Co. is moving forward with plans to expand its cross-border business-payments unit now that it has officially completed a deal to purchase a division of London-based Travelex Holdings Ltd.

It may take some time for the full effect of a new interchange-rate cap to affect consumer and merchant behavior, but PIN-debit network executives anticipate a positive outcome for their operations.

E-commerce provider Alibaba Group Ltd. reportedly is preparing to expand access to it Alipay online-payments platform to countries outside of China within the next three months.

PayPal Inc. has delivered on its promise to activate contactless payments for its mobile wallet.

Visa Inc. has launched a new marketing campaign in support of its “You and 10 Super Bowl Sweepstakes” that takes more direct aim at consumers through strategic integration with social media websites.

LAS VEGAS—Established payment card networks are well-positioned to continue generating profits over the long haul, as long as they continue adapting to changing payments technology, a panel of investment industry analysts told attendees Nov. 3 at the ATM, Debit & Prepaid Forum. But Near Field Communication-based mobile payments and mobile wallets might fall short of expectations, the analysts suggested.

Cardtronics Inc.’s recent acquisitions are strengthening the ATM independent sales organization’s retail and bank relationships, providing better customer service and growing its presence outside the United States, the company’s CEO noted during an analyst call to discuss third-quarter earnings.

Emphasizing a mobile-payment method that translates to an enhanced shopping experience for consumers, AisleBuyer LLC has added a New England supermarket chain that will offer its “virtual checkout” application, the Boston-based mobile commerce provider announced Nov. 7.

Square Inc. continues to secure investors, and the latest one is bringing a lance to the table.

Suncoast Schools Federal Credit Union is replacing 94 of its ATMs with advanced-automation Diebold Opteva machines that feature rapid-processing technology and Agilis 3, Diebold's newest, multivendor software, the credit union announced Nov. 8.

Bank of America Corp. is the second major card issuer to buck a recent smart card trend by structuring its EMV cards for U.S. commercial cardholders traveling abroad with chip-and-PIN technology instead of chip-and-signature.

Banks in Thailand have agreed to eliminate some ATM-withdrawal fees as part of a relief offering in reaction to flooding in the capital city of Bangkok and other towns.

Cardtronics Inc. on Nov. 7 reported second-quarter revenues of $165.1 million, up 21% from $136.6 million during the same period ended Sept. 30 last year. Net income rose 127%, to $46.8 million from $20.6 million.

The price of settling overdraft-fee litigation may be going up.