Cards

JPMorgan Chase & Co. on June 17 will roll out a second EMV card, expanding its target audience for the higher-technology card to a broader consumer base from elite international business travelers.

Heartland Payment Systems Inc.’s merchant clients could save up to $2,000 annually as a result of pending limits on debit card interchange fees, an executive at the processing company said June 16.

Intuit Inc. is among various vendors that could feel a shock from the emergence of Near Field Communication-powered mobile-payment schemes such as Google Wallet and Isis designed to eclipse banks’ existing, more-pedestrian offerings, such as online and mobile bank-account management.

Citigroup Inc. on June 15 clarified the timeline and updated the number of accounts breached in a recent hacker attack that put an estimated 1% of its North American Citi-branded credit card base at risk.

Lawyers for Minnesota’s TCF Bank will tell a federal appeals court in St. Louis this morning that the Fed’s proposed cap on debit fees amounts to an unconstitutional “taking” of its assets, in a last-ditch effort by banks and credit unions to block the Fed’s final rule.

The controversial Kardashian Kard may only have been on the market for a few short weeks, but its 15 minutes of fame are far from over.

Michigan First Credit Union’s use of intelligent-deposit ATMs from Wincor Nixdorf AG has helped it deal with a ballooning membership, the financial institution announced June 14

A member of the Senate Banking Committee is calling for an investigation into a data breach at Citigroup.

Visa and MasterCard have developed services for merchants to determine which cards cost more to accept — rekindling the debate over whether small banks will suffer under the Durbin amendment.

First Data Corp. is working with mobile news network operator LSN Mobile Inc. to provide a mobile advertising and coupon system for merchants, the companies announced June 15.

Customers living in China now may shop at online retail stores based is Singapore and make their payments from their domestic bank accounts through a new payment service.

Card brands are making more concerted efforts to move from just having a presence on social-media networks to actually engaging customer behavior. And MasterCard Worldwide is next up.

The emerging U.S. mobile-payments market could be putting consumers at risk for fraud, and a consumer-advocacy group is urging wireless carriers to protect its customers from unauthorized transactions.

Fifth Third Processing Solutions has changed its name to Vantiv LLC, the company announced June 15.

Credit unions and banks are once again struggling to plug a data breach that is siphoning tens of thousands of dollars from debit cards through purchases at local retailers.

Merchant groups say a U.S. Justice Department settlement does not go far enough to prevent Visa Inc. and MasterCard Worldwide from engaging in anti-competitive practices.

CLEVELAND – Credit unions and banks are once again struggling to plug a data breach that is siphoning tens of thousands of dollars from debit cards through purchases at local retailers.

The Department of Justice filed papers yesterday to implement the settlement of its antitrust suit against Visa and MasterCard, which will prevent the two card networks from barring merchants from steering transactions to lower-cost cards.

When Congress threatened to cap the interchange fees that banks collect on debit card transactions, the industry argued that such a move would force it to kill off its own debit rewards programs. As it turns out, the demise of those programs might inconvenience consumers but it is unlikely to deal banks much of a financial blow.

Starbucks Corp. finally has an official mobile payment offering for Android smartphones.