Cards

The mobile banking technology provider mFoundry Inc. has added a standalone mobile remote deposit system, the vendor announced Feb. 1

A career criminal who helped steal nearly $80,000 by using a high-powered thermal lance to cut open a Los Angeles Federal Credit Union ATM was sentenced Jan. 31 to 148 months in prison and ordered to pay a share of nearly $400,000 in restitution.

Consorcio de Tarjetas Dominicanas SA, or CardNET, plans to use VeriFone Systems Inc.’s Total Protect encryption service, the payment terminal maker announced Jan. 31.

Several groups are continuing to push for a pan-European EMV smart card to compete with cards sponsored by Visa Europe and MasterCard Worldwide. But whether a new card scheme actually will emerge remains as murky as when the efforts first were launched several years ago.

Bank Machine has signed a new, multiyear deal with Yorkshire Building Society, a United-Kingdom-based financial-services institution, to take over the management of Yorkshire’s 20 ATMs, parent Cardtronics Inc. announced Feb. 1.

Consumers "like" rock bands and clothing brands on Facebook. A loyalty rewards startup expects that they will also "like" their banks in exchange for discounts on purchases.

An underdeveloped, diverse and fragmented Indian payments market represents an opportunity for companies to help bring stability to that market, a new report from Mercator Advisory Group suggests.

Visa Canada insists the Canadian Competition Bureau’s legal challenge to eliminate the company’s consumer-protection policies has no merit and would be harmful to consumers.

Companies providing payment gateways, loyalty programs, and authorization and related services for Visa-branded transactions have improved their compliance with the Payment Card Industry Data Security Standard, Visa Inc. announced Jan. 27.

Despite the hype surrounding mobile applications for redeeming loyalty program points, consumers still would prefer one consolidated loyalty card they can attach to their keychain, according to a recent survey by ACI Worldwide Inc.

A government-appointed committee in India is proposing new mobile-banking guidelines to bring financial services to unbanked and underbanked individuals.

Prepaid card processor FNDS3000 Corp. has closed on a $500,000 private placement, the second scheduled portion of a $2.5 million, non-brokered equity financing agreement entered into in October and led by Sherington Holdings LLC, the Ponte Vedra Beach, Fla.-based company announced Jan. 31.

This story was updated from its original version.

Fawry Banking & Payment Technology Services Ltd. has signed a partnership deal with online prepaid payment provider cashU Inc. to support over-the-air reloading of cashU card accounts, the two Egypt-based companies announced Jan. 27.

For nearly every sales force in nearly every industry, selling based on price can be a losing game; someone is always willing to sell for less.

That Apple Inc. is targeting mobile payments is a foregone conclusion, but that doesn't mean banks must take a defensive approach.

Various terminal makers have come out with their own devices and services designed to support payment card acceptance using mobile phones. But one independent sales organization has decided to do so on its own, and at least one observer says the company could succeed with the proper marketing.

The PCI Security Standards Council is seeking to broaden the scope of industry participation as it empanels its third set of new advisory board members since the initial board convened in 2007.

Zimbabwe’s Cross-border Traders Association, in collaboration with Selafin South Africa, a financial-services subsidiary of Selacor Group of Cos., has launched a reloadable prepaid card for its members who travel to South Africa, the trade group announced last week.

Federal Bank Ltd. on Jan. 26 became India’s first debit card issuer to stop charging its customers who use other banks’ ATMs, regardless of how many times they do so, a spokesperson for the Kochi-based bank tells PaymentsSource.