Cards

Maas Global Solutions Corp. has become the exclusive processor for Pride Payments Network LLC after making a “significant investment” in the merchant acquiring independent sales organization, the companies announced Feb. 5

Two apps are better than one when launching mobile check-deposit services, at least for now, some banks say.

Lakshmi Vilas Bank Pvt. bank has become the 10th bank in India to launch the Internet Mobile Payment Service in India, a spokesperson for the Karur-based bank tells PaymentsSource.

Rewards programs long have been a staple with many credit and debit card products. And now prepaid debit card providers are attempting to retain their cardholders using similar incentives.

As merchants crack down on fraud, resources to help investigate and recoup their losses from so-called “friendly fraud” are on the rise, helping to thwart the trend, observers say.

Meta Financial Group Inc.’s profit fell by almost 40% in its fiscal first quarter after taking a goodwill charge stemming from its poor stock performance.

Sage Payment Solutions Inc. hopes to capture a new group of retail customers with the launch of a mobile service that provides small and midsize merchants lacking storefronts a low-cost option to accept credit and debit cards, the company announced Feb. 7.

Visa Inc. will allow merchants to offer discounts or other incentives to steer customers to a particular form of payment, including to a specific network brand or to any card product such as a “nonreward” Visa credit card, under terms of its settlement of an antitrust suit brought by the U.S. Department of Justice, the card brand announced last week.

Seeking to cater to its consumers who do not have Apple Inc. iPhones or Google Inc. Android smartphones, TD Bank NA last week launched a mobile-banking application for Research In Motion Inc.’s BlackBerry devices.

Online payments are becoming faster, as person-to-person payment providers forge ties with PIN-debit networks.

Most consumers in the United Kingdom have not changed their payment habits, but some say they will rely less on credit cards even if the economy improves, suggest recent survey data from New York-based Auriemma Consulting Group.

Many banks have reported financial improvements, but their technology spending is still at a trickle.

NCR Corp.’s investments in improving its technology are helping it recover from the economic downturn by sparking more demand from retail banks, the ATM and kiosk maker noted Feb. 3 during a quarterly earnings call with analysts.

Bolstered by improved operating efficiencies and increased funds-transfer activity, MoneyGram International Inc. on Feb. 4 reported net income of $16.2 million for the quarter ended Dec. 31, up 105% from $7.9 million during the same period the previous year. Revenue was up 2.6%, to $303.4 million from $295.6 million.

Zumogo, ProPay Inc.’s new social-media payment tool for mobile phones, leaves out vital information that ProPay says some competitors leave in.

The South African National Department of Transport has picked Clear2Pay NV to develop functional testing services for EMV contactless cards and payment terminals in the country, the agency announced last week.

NetSpend Holdings Inc. is launching a rewards program for its prepaid debit cardholders using a merchant-funded system provided by Cardlytics Inc., the companies announced Feb. 4

In yet another sign 2011 promises to include an avalanche of Near Field Communication-related announcements, LG Corp. is jumping on the bandwagon. That should shock no one, one analyst contends.

Fiserv Inc.’s shares fell more than 3% in after-hours trading Thursday after the Brookfield, Wis., banking technology vendor reported earnings that missed analysts’ estimates.

CashEdge Inc. is linking to NYCE Payments Network LLC to allow for real-time person-to-person payments.