Cards

R&D capabilities at Interac got a boost last month when Interac Corp. was created by merging Interac Association and Acxys Corp. It brought together a payments network handling nearly 5.7 billion debit transactions annually with a company specializing in payments development, management and consultation.

A strategic payments plan could shine a light on critical gaps in a community bank’s offerings; one frequently missed opportunity is credit cards, writes Deborah Matthews Phillips, managing director of payment strategy for Jack Henry & Associates.

To bypass the customer in setting up millions of phony card accounts, Wells Fargo employees took advantage of the bank’s continuing reliance on single factor authentication, writes Patrick Cox, CEO of TRUSTID.

Wirecard has gained a foothold in using virtual prepaid cards to streamline corporate payments across business units, platforms and borders for companies with sprawling operations. Now the German company wants to do the same for more U.S. companies going global.

Emphasizing its commitment to data advancement and security, Mastercard has named JoAnn C. Stonier as its first chief data officer.

In recent weeks three surveys have been released that assess the U.S. fraud landscape across all of these audiences. These reports provide a holistic snapshot of where payments fraud in the U.S. is today.

In the rising tide of e-commerce fraud, one of the trickiest areas to control is so-called friendly fraud, particularly within the growing markets for digital goods.

Walmart is the first major merchant to add Fiserv’s Accel signature debit service following the debit network’s recent expansion of routing options, in a move to cut costs for card acceptance.

On-card biometrics is the final piece of the puzzle to bring trust and security to contactless payments without compromising convenience, writes Lina Andolf-Orup, global product marketing manager at Fingerprints.

Strong holiday spending was marked by active e-commerce spending, providing an impetus to invest in more digital payment technology.

The card brand is navigating almost daily changes in the payments industry, resulting from company mergers and partnerships to advancing payments delivery and security.

San Diego-based CU is the first new owner of the CUSO in 2018.

In many instances, mass transit systems have proven to be catalysts for adoption of new payment technology, starting with the genesis of contactless cards for access to buses and trains in Hong Kong and Japan in the late 1990s.

About a decade after its launch, Cambodia-based mobile money provider Wing has added a virtual prepaid Mastercard to its platform, enabling its audience of unbanked and underbanked consumers to shop online.

Mick Mulvaney’s unapologetic memo to staff about the Consumer Financial Protection Bureau’s mission headlined a spate of developments this past week as he continues to transform the agency. Here are the key developments.

PayPal has been working to expand Venmo's audience beyond millennials for more than a year, a strategy that it hopes to further with instant transfers.

MoviePass has pulled its participation from 10 AMC movie theaters following disagreement over the theaters’ support of MoviePass’ $9.95 monthly movie subscription model, which uses a Mastercard to guarantee payment through its app.

Kelley Knutson has been promoted to senior executive vice president of Total System Services Inc. and president of Netspend, the company's prepaid debit card unit.

Several banks won’t process cybercurrency transactions while others are reviewing their policies; agency promises flexibility to lenders.

The Consumer Financial Protection Bureau extended the effective date for its prepaid card rule to April 2019 and carved out an exception for arrangements where digital wallets are linked to a credit card.