Cards

Credit card issuers, bruised over the past two years by significant economic setbacks and regulatory changes, face the possibility of yet another shock, one analyst contends: a large, branch-based issuer potentially taking over another issuer or a major card network.

Continuing efforts to diversify its gift card base, American Express Co. is marketing a gift card in the United States to celebrate Diwali, an India holiday that means “row of lights.”

First National Bank of Omaha will be the first major financial institution to extend Cardlytics Inc.’s merchant-funded bankcard rewards to credit cardholders, adding it to the company’s rewards service the issuer already plans to offer to its prepaid and debit cardholders, Cardlytics announced this week.

Mobile-payments company mPayy Inc. has added reloadable prepaid debit and payroll cards as an option to fund its accounts, the company announced Oct. 12.

Russian banks have issued 70 million Visa credit and debit cards over the past decade, the card company reported this week as it celebrated its 10th anniversary in Russia.

A surging Indian economy is boosting overall payment card use in India, though the use of debit cards is growing significantly faster than that of credit cards, according to data from India’s central bank.

Financial institutions, mobile-phone networks, service providers, payment companies and transaction processors in both developed and emerging markets will be able to offer a wide variety of mobile banking and payments services under a enhanced technology platform Monitise PLC announced Oct. 14.

Meta Financial Group Inc.'s shares fell more than 30% Wednesday on news that the Office of Thrift Supervision has ordered its MetaBank subsidiary, a major issuer of prepaid debit cards, to scrap its iAdvance credit product after determining the bank misrepresented the product.

Discover Financial Services said Wednesday that it had signed a merchant acquirer agreement with First National Bank Alaska.

Mobile access to medical finances is becoming more important for employees — and their banks.

Chartway FCU said yesterday it has implemented the FIS Mobile Banking platform from Fidelity National Information Services.

Chartway FCU said yesterday it has implemented the FIS Mobile Banking platform from Fidelity National Information Services.

Pennsylvania State Employees CU has introduced mobile banking through Firethorn Holdings LLC, a wholly owned unit of Qualcomm Inc.

JPMorgan Chase & Co. on Oct. 13 reported third quarter increases in both net income and sales volume for its Card Services unit, aided by continued reductions in charge-offs and delinquencies and by a rise in consumer card use.

Cubic Corp. has launched an updated application that enables consumers in one German city to purchase public-transportation tickets using Apple Inc. iPhones, which display purchased tickets as barcodes scanned at turnstiles for entry, the transportation ticketing company announced Oct. 6.

Credit unions on Tuesday were exploring whether to sign on to a suit filed by Twin Cities bank TCF Financial challenging the constitutionality of the new interchange amendment that may cap fees on debit card transactions.

Card-skimming attacks are on the rise this year as crooks devise relatively simple, inexpensive new ways to compromise payment terminals, the Payment Council Industry Security Standards Council’s top technology executive told attendees last week at SourceMedia Inc.’s ATM, Debit & Prepaid Forum.

Card-skimming attacks are on the rise this year as crooks devise relatively simple, inexpensive new ways to compromise payment terminals, the Payment Council Industry Security Standards Council’s top technology executive told attendees last week at SourceMedia Inc.’s ATM, Debit & Prepaid Forum.

Global Payments Inc. announced on Oct. 11 a major delay in upgrading U.S. merchants to a new authorization system.

Other debit card issuers are likely to pledge support for TCF Financial Corp.’s Oct. 12 lawsuit filed against the Federal Reserve Board that challenges the constitutionality of the provision within the Dodd-Frank Act requiring the Fed to set debit interchange rates, analysts say.