Cards

The investigation continues into how thieves managed to steal funds from consumers’ debit card accounts by tampering with PIN-pad terminals at 80 outlets of Michaels Stores Inc., but payment-security experts say many merchants’ terminals probably remain exposed to similar sophisticated attacks.

This story was updated from its original version.

CHICAGO–Traditional U.S. payments players should adjust their industry approach to address evolving consumer preferences that are causing dramatic market changes to occur, an executive from the Federal Reserve Bank of Atlanta told attendees here May 19 during a panel discussion at the Federal Reserve Bank of Chicago’s annual conference.

PayPal Inc. has added the ability for users of Android smartphones to fund their accounts by taking a picture of a paper check.

WASHINGTON – Responding to progress credit unions and banks have made in Congress to delay or derail new interchange caps that are included in the Durbin Amendment to the Dodd-Frank Act, the National Retail Federation is rolling out a major, nationwide, 60-day lobbying, grassroots and media campaign aimed at ensuring that the law goes into effect as scheduled.

VeriFone Systems Inc. is supplying a Turkish gasoline retailer with unattended pay-at-the-pump payment terminals, VeriFone announced May 18.

Mechanics Bank of Richmond, Calif., has chosen fraud-protection product from VSoft Corp., the vendor announced May 18.

WASHINGTON — Although Senate leaders have confirmed they will allow a floor vote soon on delaying interchange fee restrictions, the timing, outcome and vehicle for suspending the proposed cap are still anyone's guesses.

Dramatic reductions in credit card bad-debt and total expenses, plus gains in customer use of private-label cards within its stores driven by a 5% rewards discount launched in October, helped boost fiscal first quarter profitability within Target Corp.’s Credit Card segment.

InComm Inc. plans to develop local prepaid products in Brazil through an agreement it announced May 17 with prepaid card provider Unik S.A.

WASHINGTON – Senate Majority Leader Harry Reid plans to hold a vote on a proposal to delay the cap on debit fees, even as the Senate leader says he is opposed to the delay.

Police in Oakland, Calif., shut down an alleged identity theft operation that involved potentially thousands of Bay Area victims, The Oakland Tribune reported Monday.

Given a choice, some 76% of debit cardholders would sooner give up receiving rewards for their debit card use than absorb any fees for using their cards, new survey data show.

WASHINGTON – Senate Majority Leader Harry Reid plans to hold a vote on a proposal to delay the cap on debit fees, even as the Senate leader says he is opposed to the delay.

Hoping to capture a greater share of the burgeoning and highly competitive market involving young Hispanic consumers, Western Union Co. is partnering with leading Hispanic-content broadcaster Telemundo Communications Group LLC to promote two MasterCard-branded reloadable prepaid cards.

Investment firm Australasia Consolidated Ltd. has acquired eMerchants Holdings Pty Ltd., an Australian provider of prepaid financial services, for approximately AU$28 million (US$30 million or 21 million euros).

MasterCard Worldwide has appointed Ajay Bhalla president of DataCash Group PLC, the card brand announced May 17.

Consumers use debit cards more often than other payment options at the point of sale, but their use of cash is not far behind, suggesting that they continue to monitor spending to stay within their budgets, new research shows.

Consumers use debit cards more often than other payment options at the point of sale, but their use of cash is not far behind, suggesting that they continue to monitor spending to stay within their budgets, new research shows.

Conditioned by 24/7 access to their bank accounts, customers expect to find help whenever and wherever they need it. The last place they'll discover it, however, is in a bank branch after hours.