Cards

After the mobile-purchasing system in Apple Inc.’s iPhone game Smurfs’ Village led Apple to set new spending restrictions for mobile apps, the game’s developer has followed up with further restrictions for the game itself.

VeriFone Systems Inc. and Hypercom Corp. say they believe their merger can be completed in the second half of 2011, despite a civil antitrust lawsuit the U.S. Department of Justice filed against the companies May 12.

When the financial-services industry came together this year to oppose the Durbin amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, retail ATM deployers were ready to do their part with the help of the ATM U.S. Defense Fund.

The news that Isis is seeking to expand its model by working with traditional card systems reveals the importance of wide cooperation in developing an NFC payments ecosystem.

Prepaid debit cards related to unemployment benefits are back in the spotlight with a consumer group criticizing what it believes are unnecessary and undisclosed card costs.

The question of whether an exemption for banks with less than $10 billion in assets is sufficient protection from the Federal Reserve Board’s proposed new rules for debit-interchange pricing loomed larger than ever during a May 12 Senate Banking Committee hearing during which a lawmaker grilled the nation’s top two banking regulators.

WASHINGTON – Federal Reserve Chairman Ben Bernanke told Senators this morning he is doubtful whether the Fed can develop a rule adequately protecting credit unions and small banks from the cuts in debit fees mandated for the biggest banks.

WASHINGTON – Federal Reserve Chairman Ben Bernanke told Senators this morning he is doubtful whether the Fed can develop a rule adequately protecting credit unions and small banks from the cuts in debit fees mandated for the biggest banks.

With sales of mobile devices outpacing their distribution of debit and credit cards, banks in some countries are looking at new ways consumers may access cash at ATMs.

SAN DIEGO–A future fraught with change is coming into focus, with electronic messages replacing merchants’ ads in the local Gazette, mobile payments proliferating and even the smallest retailers getting an affordable opportunity to link the point of sale to inventory replenishment.

SAN DIEGO–No one has brandished a crystal ball, but payment-terminal makers here this week at the ETA Annual Meeting & Expo still have had plenty to say about the future.

SAN DIEGO--The financial services industry, now at the height of an expensive national campaign to delay the so-called Durbin amendment, was urged Wednesday to do the opposite: contact elected officials at home to explain the local effects of the legislation.

There are now several companies offering merchant-funded rewards programs that could help banks compensate for the loss of payment card revenue to tightening regulation. Only one has a name that's almost certain to grab consumers' attention: FreeMonee.

Total System Services Inc.’s TSYS Acquiring Solutions subsidiary has signed an agreement to provide security services on its platform for Caledon Card Services.

Wincor Nixdorf AG has promoted Oliver Weber to be the chief executive of the ATM maker’s U.S. operations, the Germany-based company announced May 11.

DeviceFidelity Inc. on Wednesday said it was issued a patent for using near-field communication technology to perform payment and other activities on mobile devices.

In launching its own digital wallet, Visa Inc. says its size will help it succeed in a market where many established payment companies have learned the hard way that bigger is not always better.

The PIN pad-tampering attack Michaels Stores Inc. revealed earlier this month is far more widespread than it originally believed, affecting at least 90 payment terminals in stores in 20 states, the retailer announced May 11.

Despite the buzz surrounding mobile-banking services, a relatively few consumers use them on a regular basis, though nearly half are familiar with them, new research suggests.

Despite the buzz surrounding mobile-banking services, a relatively few consumers use them on a regular basis, though nearly half are familiar with them, new research suggests.