Cards

The legal volleying in TCF Financial Corp.'s lawsuit to block the Durbin amendment continued Friday with the Wayzata, Minn., banking company filing documents in federal court to counter regulators' opposition.

Debit card networks could lose $1.7 billion in revenue from fees they charge banks stemming from the Federal Reserve Board’s proposed debit-interchange caps, according to an analyst.

Heartland Payment Systems Inc. of Princeton, N.J., has added an automated clearinghouse feature to its Express Funds remote deposit service.

Nearly half of consumers around the world are concerned about card fraud, yet many fail to take precautions to prevent it, suggesting banks should do more to educate consumers to reduce their susceptibility to fraud, recently released survey data show.

Proposed and recently enacted state and federal regulations regarding debit and reloadable prepaid cards have put card programs used for disbursing unemployment, Social Security and other benefits in serious jeopardy, a JPMorgan Chase & Co. executive tells PaymentsSource.

MUMBAI, INDIA–A company that enables India’s banking customers to conduct instant interbank mobile funds transfers is planning to extend the service to enable them to also pay for purchases at merchant locations, the firm’s chief executive told PaymentsSource here March 3 at a technology summit organized by the Indian Banks’ Association.

AT&T Inc. has added WorldPay US Inc. as a processor for the mobile-merchant payment initiative the telecommunication company launched last year, according to an entry posted March 1 on WorldPay’s blog.

Tee-On Golf System Inc.’s announced partnership earlier this week with Yespay International Ltd. will enable Canadian golf courses using Tee-On’s tee-time booking software to accept EMV chip-and-PIN payment cards, according to London-based Yespay.

Bank customers in India soon will have to use a second identification method to conduct ATM transactions, according to G Gopalakrishna, executive director at Reserve Bank of India.

As banks join forces with prepaid-card companies, reputational risks loom.

Despite naming its product Virtual Wallet, PNC Financial Services Group Inc. has decided that its Web-centric bank account should be firmly grounded in the real world.

Hoping to increase overall loyalty, PNC Bank NA, a member of The PNC Financial Services Group Inc., is adding new credit cards to its portfolio whose rewards are based on the consumer’s relationship with the bank, the Pittsburgh-based issuer announced March 1.

Western Union Co. has introduced a mobile Web version of its foreign-exchange payment service that enables small and midsize businesses with international ties to conduct transactions using smartphones, the company announced March 2.

ATM independent sales organizations are worried about declining interchange rates, rising costs and pending legislation, but the majority are still looking to expand their businesses within the next year, the results of a recent survey suggest.

Westpac New Zealand Ltd. on March 3 deployed two mobile NCR Corp. ATMs in the city of Christchurch, which was devastated by a Feb. 22 earthquake.

Having cornered the mobile remote deposit capture market with its software, Mitek Systems Inc. is pushing a new service it says helps companies enroll their customers’ bank accounts by snapping a picture of blank check with a smartphone.

Citizens Financial Group Inc. said Wednesday that it will offer its commercial card customers a spending control service from MasterCard Inc., the banking company said Wednesday.

A comparison between checking-account offerings from top issuers and popular reloadable prepaid debit cards suggests that in some cases the cards are a better value, new research suggests.

KB Financial Group has spun off its KB Kookmin Card credit card unit to help boost the program’s card base and to develop more financial products, a spokesperson for the South Korea-based company tells PaymentsSource.

WASHINGTON—An effort to delay proposed debit-interchange rules continued to build momentum March 2 as bankers and lawmakers called for a more effective exemption for small financial institutions.