Cards

NCR Corp. reported a profit of $13 million for the first quarter, up from a loss of $19 million a year earlier.

MIAMI BEACH, Fla.-Poor service from a credit card service independent sales organization helped convince James McKelvey to co-found Square Inc., the exec told attendees on April 27 at the 23rd annual Card Forum and Expo co-sponsored by PaymentsSource and the American Banker in Miami Beach, Fla.

WASHINGTON — For consumers, convenience and rewards are the most commonly discussed benefits of near field communication for mobile payments. There is also a substantial security benefit, though banks are reluctant to let consumers know.

HOUSTON – Pioneer Muslim FCU has contracted with Fifth Third Processing Solutions for EFT services.

Sen. Dick Durbin, D-Ill., is in another sparring session with the American Bankers Association and asks the organization to “cut to the chase” regarding the motivations behind the organization’s criticisms of the interchange reform law that Congress enacted last year.

EBay Inc.’s PayPal Inc. unit during the first quarter March 31 continued to expand its global foot print while its other payment unit, Bill Me Later, became a more mainstream payment method in the U.S. with 42% growth to $324 million from $228 in total payments volume.

Consumers now may purchase and make prepaid funds transfers at various United States-based merchants through an agreement between MoneyGram International Inc. and InComm Inc., Dallas-based MoneyGram announced April 27.

Cash, not cards, remains the most widely used payment instrument in Australia for low-value payments, a recent Reserve Bank of Australia payments-use study reveals. Cards, however, are the dominant payment method for mid-value payments ranging from AU$50 (US$52 or 36 euros) and AU$500.

The opportunity to capitalize on the explosive growth in payments as the industry steadily moves to electronic and mobile platforms is attracting many new players and business models, but the winners ultimately will be those who can leverage payments on a massive scale, according to Citigroup Inc.’s top enterprise executive.

Visa Inc. has invested an undisclosed amount of money in Square Inc., the start-up company that lets merchants accept card payments through a small square-shaped device that plugs into smartphones.

Existing payments-industry giants are at risk of becoming obsolete if they do not begin experimenting soon with new payments technologies and finding innovative partnerships to meet the changing marketplace demands, according to Dan Schulman, group president for enterprise growth at American Express Co.

Citigroup Inc.'s Global Transaction Services unit said it has successfully completed cross-certification of an identity authorization process for outside entities working with the federal government.

SunTrust Banks Inc. and MasterCard Inc. April 27 launched an open-loop reloadable prepaid card that doubles as a student ID card.

Amazon.com Inc. has launched its Checkout by Amazon payments service in Germany, the company announced April 27.

The rise of prepaid debit cards is helping payments processor Total System Services Inc., also known as TSYS, expand as it works to grow its payments volume.

Diebold Inc. announced April 27 that its income dropped 90% to $2.5 million in the first quarter from a year earlier.

Euronet Worldwide Inc.’s cites growth in its Money Transfer segment as driver for its first-quarter earnings results.

Two local retirees in Fowlerville, Mich., say they are fed up with paying ATM surcharges where there is no notice and are traveling the country to withdraw cash at targeted ATMs, then filing suit–five against local credit unions earlier this month.

Students at Idaho State University will be able to use their student ID as a debit card for Idaho State University CU starting fall semester.

MoneyGram International said April 26 that it will soon introduce a cash-to-account transfer service in the Philippines.