Cards

Providing comprehensive, bankwide rewards programs may do more to maintain customer loyalty than do debit card rewards, which some banks are looking to trim or eliminate because of reductions in interchange revenue, a new survey report suggests.

A new mobile-payment service in South Africa enables consumers to pay for purchases using their PIN-debit cards online.

MoneyGram International Inc. remains focused on reinvesting in its core business coming off a second quarter that saw it achieve double-digit growth in funds-transfer revenue, transaction volume and agent locations.

Starbucks Corp. is reaping the benefits of increased participation in its prepaid loyalty card program and its ongoing expansion into mobile payments in the U.S., the company said July 29 when announcing results for its fiscal third quarter.

Green Dot Corp.’s top executive says its reloadable prepaid cards will be exempt from the Federal Reserve Board’s new rule limiting debit card interchange.

Green Dot Corp. continued to expand use of its prepaid cards in the second quarter, posting a 26.5% increase in its number of active cards from a year earlier.

Double-digit growth in funds-transfer revenue, transaction volume and agent locations helped create a significant boost in MoneyGram International Inc. second-quarter net income

Visa Inc. is overhauling its pricing to spur merchants to route transactions its way and defend a dominant share of the U.S. debit card market, a position endangered by new regulations.

Record second-quarter highs in processing sales volume and net revenue have Heartland Payment Systems Inc. executives singing the praises of a retooled sales force and diligence in monitoring expenses.

Helped by strong growth in purchase volume outside the U.S., Visa Inc. on July 27 reported healthy across-the-board fiscal third quarter transaction growth.

After two years in court, the many legal fights over banks’ overdraft practices have produced a national class action against Union Bank of California. And in a move that may put more pressure on banks, plaintiffs’ attorneys have moved to unseal records in the case.

Despite a weak national economy and uncertainty over the debt ceiling, business apparently is booming for independent sales organizations.

American Express Co. has nabbed a former Google Inc. executive to run a joint venture with French e-commerce website vente-privee.com.

Hacking suspects may blame their arrests on having picked the wrong target.

Visa Inc.’s fiscal third-quarter net income rose 40.4% from a year earlier due partly to a gain it recognized from the revaluation of a deal with Visa Europe.

The finalization of new debit card regulations likely will provide a tailwind to bank technology spending later this year, according to the top executive of vendor Fiserv Inc.

In another move to engage its customers, India Post, the national postal service of India, plans to deploy special-function ATMs throughout India, a spokesperson for service tells PaymentsSource.

Despite drops in second-quarter revenue and profitability, Diebold Inc.’s top executive remained positive about the company’s earnings thanks to accelerated growth in North America.

Aided by relatively strong performance from its EFT Processing segment, transaction processor Euronet Worldwide Inc. reported favorable second-quarter revenue and profitability.

Flush with cash and the prospect of stronger revenue growth for the rest of the year, Total System Services Inc., or TSYS, is eyeing potential acquisitions that would diversify its operations beyond its core credit card processing business.