Cards

VeriFone Systems Inc., the nation's largest maker of point of sale terminals, is introducing a new one that could make it as easy for merchants to accept alternative payments as it is to take Visa or MasterCard.

PayNearMe Inc. has launched a bill-payment function for its cash payment system that works with bar codes printed on billers’ statements.

American Express Co. will sell gift cards in more than 1,800 post offices starting in June under a pilot with the U.S. Postal Service.

Socialwise Inc. is furthering its promotion of its BillMyParents alternative payment system through its partnership with skateboarding star Rob Dyrdek.

Mitek Systems Inc. said it added two large banks to its roster of clients using its mobile check-deposit technology during the quarter ended March 31, as its market share in the category continues to grow.

Hypercom Corp. reported Monday that it swung to a loss of nearly $3.5 million during the first quarter from a profit of $375,000 a year earlier.

PayPal Inc. could lose a substantial amount of transaction revenue if pending caps on debit interchange are applied to the alternative payments company, an analyst with FBR Capital Markets said in a research note Thursday.

As U.S. Bancorp upgrades its mobile banking offerings, it is also stepping up its use of mobile data business intelligence to target sales and personalize customer service.

Financial institutions likely soon will face significant reductions in debit card interchange revenue, but that is not stopping a San Diego-based issuer from launching a program in which customers will receive cash back on purchases initiated with its Visa check cards.

Despite a United Kingdom Office of Fair Trading investigation looking into the debit and credit card fees the country’s airlines charge, easyJet Airline Co. Ltd. continues to increase its debit card fees for flight bookings, PaymentsSource has learned.

Prepaid card marketers are entering each others’ turf to reel in more underbanked consumers.

Visa Inc. plans revisit its incentive agreements with issuing banks after the Federal Reserve Board finalizes its capped rate for debit card interchange this summer, executives for the card brand told analysts May 5 during a conference call to discuss fiscal second-quarter earnings.

U.S. merchants now may process magnetic stripe, e-commerce and EMV chip-and-PIN payments using Yespay International Ltd.’s cross-border payment service, the London-based company announced on May 4.

The Reserve Bank of India has increased the deposit limits for mobile wallets in that country to 50,000 rupees (US$1,112 or 762 euros) from 5,000 rupees previously, according to a notification it sent to all banks and operators on May 4.

The National Payments Corp. of India has received permission to expand the scope of its interbank mobile funds-transfer service to include payments, the authority announced May 5.

When it comes to overdraft protection, Bank of America Corp. is learning customers really do want a say in the matter.

Cardtronics said this week TA Associates, the venture fund that financed the creation of the nation’s largest ATM operator, severed its ties with the company after it sold most of its shares, with Michael Wilson, managing director of the Boston investment firm, resigning from the Cardtronics board.

Later this month, the Charlotte company will raise the monthly fee on its MyAccess checking account to $12 from $8.95. Customers can avoid the fee if a direct deposit of at least $250 is made per statement cycle, or an average monthly balance of $1,500 is maintained. Previously, customers could waive the fee by making a direct deposit of any amount.

A new payment card allows users to see their balances right away with the technology they already have — no chips, fancy apps or even bookmarked mobile websites required.

CashEdge Inc. has developed a version of its bank-focused person-to-person payments service for prepaid card companies.