Cards

Minnesota’s TCF Bank asked a federal appeals court yesterday to order the Federal Reserve to provide the court with an advanced copy of the Fed’s final debit rule to be voted next week, in order to help the court deliberate over the bank’s suit to stop the rule.

Discover Financial Services second-quarter profit more than doubled as declining delinquency and charge-off rates allowed the credit-card lender to tuck away a smaller amount of money to cover bad loans.

WILMINGTON, Del. – Global technology vendor Serverside Group filed suit in federal court this morning claiming dozens of credit union groups and banks are infringing on its patents for card customization technology.

PIERRE, S.D. – Minnesota’s TCF Bank asked a federal appeals court yesterday to order the Federal Reserve to provide the court with an advanced copy of the Fed’s final debit rule to be voted next week, in order to help the court deliberate over the bank’s suit to stop the rule.

The proliferation of merchant-funded incentive programs and their growing popularity with banks is likely to open up certain new competitive fronts among credit and debit card issuers, a new Aite Group study suggests.

An acquisition of the ATM businesses of EDC Holding Co. LLC would do as much to boost the quality of Cardtronics Inc.’s ATMs as it would to boost its quantity, observers say.

Credit card companies should tie their marketing to social-media sites because more credit cardholders are connecting with them through those channels, new survey data suggest.

Financial institutions should focus on building their debit card portfolios as they wait for the Federal Reserve Board to determine debit card interchange rate reductions now that the Senate has decided not to delay implementation of the Durbin amendment, suggests a white paper from The Members Group, which does business as TMG, a financial-services provider to credit unions and community banks.

Signaling to Visa Inc. and MasterCard Worldwide that they no longer are the lone payment card networks in India, the National Payments Corp. of India has joined with Bank of India to launch RuPay-branded debit cards.

Yahoo Inc.’s issues with Alibaba Group Holding Ltd. over the ownership of the Alipay online payments provider have yet to be resolved, though the companies are making progress, they announced June 22.

Cardtronics Inc. said Tuesday that it plans to buy EDC ATM Subsidiary LLC and Efmark Deployment I Inc., adding an additional 3,700 automated teller machines to its fleet.

WASHINGTON – The Federal Reserve announced yesterday its board will meet next Wednesday to vote on a final rule implementing cuts in debit fees.

Cardtronics Inc. has entered into a tentative agreement to acquire EDC ATM, a subsidiary of EDC Holding Co., for $145 million, the Houston-based ATM independent sales organization announced June 21.

WASHINGTON–The Federal Reserve Board is scheduled to issue its final rule on a controversial swipe fee provision next week, according to a public notice released June 21.

Mobile-payments service provider ChamsMobile Ltd. soon will launch mobile funds-transfer services in Nigeria, enabling citizens there to make payments for retail purchases and receive remittances from overseas connections.

Mobile-payments service provider ChamsMobile Ltd. soon will launch mobile funds-transfer services in Nigeria, enabling citizens there to make payments for retail purchases and receive remittances from overseas connections.

The rise of online and mobile banking plus new regulatory pressure on debit card interchange are converging to spark explosive growth in credit and debit card merchant-funded loyalty programs, a new report suggests.

Public fallout from the data breaches that have affected Citigroup and other large enterprises in and out of finance in recent weeks has reached the political push back stage, with both Sen. Patrick Leahy (D-Vt.) and Rep. Mary Bono Mack (R-Calif.) hoping the events will breathe new life into data protection legislation that’s failed in the past.

WASHINGTON – The Obama administration's push to create a national standard for when and how banks and other companies must notify customers of a data breach appears to be gaining momentum.

Many banks subject to the Durbin amendment are convinced debit interchange cuts will make free checking or rewards programs impossible to support. What they are not so sure about is what Durbin would mean in the fight against fraud.