Cards

JPMorgan Chase & Co. plans to end debit rewards for at least some existing customers in July, according to a letter the issuer is sending to customers that cites the Durbin amendment as its reason.

Card issuers in New Zealand have come under immense backlash from both the general public and government officials after cardholders in the earthquake-stricken Christchurch area reportedly received bills with card penalty late fees.

A severe security breach at EMC Corp.'s RSA Security may threaten the thousands of banks that use its technology.

Mizuho Financial Group Inc. has shut down its ATM network and online-banking service for the weekend as Japan’s third-largest bank continues to deal with computer problems that have plagued it since March 15.

New features such as merchant-funded rewards on the home page of Intuit Inc.’s FinanceWorks personal financial management system for online banking are particularly intriguing, analysts say.

When considering whether to switch which payment card they prefer to use, consumers tend to seek out higher discounts on purchases, new research suggests.

Electronic Network Cash Tellers Inc., or Encash, reportedly is in talks with foreign investors to further boost its ATM expansion plans in the Philippines.

While many bankers expect Apple Inc. to help bring mobile payments into the mainstream by developing its own system for the iPhone, the consumer electronics giant could also have the same effect with its advertisements.

Zong Inc. said March 17 that its mobile carrier billing service is now available for video game consoles, interactive television services, mobile websites and other channels.

Responding to growing concerns about cardholder data being exposed when merchants process payments over the telephone, the Payment Card Industry Security Standards Council on March 18 announced guidelines for handling and storing card data within audio recordings at call centers.

ST. PETERSBURG, Fla. – PSCU Financial Services announced this afternoon the hiring of Michael Kelly, an executive with Fiserv’s payments network, as its president and CEO. “Michael’s experience and credentials make him an outstanding choice for PSCU Financial Services,” said Craig Esrael, president of First South Financial CU and chairman of the PSCU Financial board. “He is a dynamic leader with a demonstrated commitment that is evident to all who meet him.” Mike Yatros, the CUSO’s chief operating officer has been acting as interim CEO since last July’s death of David Serlo. PSCU is the nation’s largest CUSO and provides payments and call center services for more than 1,900 credit unions.ST. PETERSBURG, Fla. – PSCU Financial Services announced this afternoon the hiring of Michael Kelly, an executive with Fiserv’s payments network, as its president and CEO.

A number of Olympic and Paralympic fans who tried to purchase event tickets March 16 to next year’s London games were unable to complete orders March 16 if their Visa-branded payment card expired before a certain date.

Mizuho Financial Group Inc., Japan’s third-largest bank based on assets, is experiencing computer problems that are affecting its ATM network as consumers are frequently withdrawing cash in the aftermath of last week’s earthquake, tsunami and subsequent nuclear power plant problems, according to various media reports.

Littlewoods Europe’s addition of Optimal Payments PLC’s Neteller’s e-wallet as an accepted payment method will help protect customers against card-not-present fraud because they will not have to enter their financial or personal information when making an online purchase, according to the United Kingdom-based online retailer, which announced the service March 15.

Bengaluru Metro Rail Corp. on March 16 launched a prototype of the contactless smart card the subway network for the Indian city of Bengaluru will use starting Apr 4, a spokesperson for the agency tells PaymentsSource.

Consumers doubt they will benefit from lower debit fees, according to a recent survey, even as the Federal Reserve is poised to direct lower interchange charged merchants by credit unions and banks.

The National Payments Corp. of India has informed banks that it will charge remitting institutions 0.1 rupees (0.002 U.S. cents or 0.0015 euros) for every mobile transaction that flows through the interbank funds-transfer service it launched last year, the company announced March 14.

India Post, the country’s state-owned postal service, has begun enabling customers to conduct and pay for postal services online, a spokesperson for the agency tells PaymentsSource.

Many small businesses that do not use mobile bill-payment services are unlikely to use them in the near future, new survey data suggest.

Online Resources Corp. is taking a less-is-more approach, consolidating many of the platforms bankers rely on after a series of poorly executed acquisitions gave it a hodgepodge of overlapping software.