Cards

The state of Meghalaya in India has set up an online system consumers may use to pay direct taxes, an official from the state’s financial ministry tells PaymentsSource.

MetaBank has announced its joining of the automated clearing house system NACHA.

Each 10 basis-point reduction in debit card interchange rates will cost Fifth Third Bancorp about $15 million annually in interchange revenue, Dan Poston, Fifth Third chief financial officer, told analysts during a conference call yesterday to discuss second-quarter earnings, referring to new rates the Federal Reserve Board would determine under a mandate outlined in the new financial-reform law.

Investors drove the price of Green Dot Corp.'s shares up as much than 24% Thursday in the prepaid card company's first day of trading on the New York Stock Exchange.

Cardtronics said it is redeeming $100 million of 9.25% senior subordinated notes as part of a refinancing that will reduce debt and interest expenses.

NCR Corp. on Thursday reported net income of $31 million for the second quarter ended June 30, up 29.2% from $24 million during the same period last year. Revenues totaled $1.18 billion, up 5.4% from $1.12 billion.

Debit card issuers worldwide struggling to find the best path to profits need “radical thinking” to develop commercially viable incentives aimed at driving heavier debit card use among specific customer groups, First Data Corp. says in a study released this month.

Efforts to grow internationally appear to be paying off for Total System Services Inc., as are indications the economy is improving.

With another strong quarter under its belt, EBay Inc. plans to position its payment unit, made up of PayPal Inc. and Bill Me Later, as a global leader in online payments and to expand its presence across Asia, John Donahoe, eBay president and CEO, told analysts July 21 during a conference call to discuss second-quarter earnings.

SCHAUMBURG, ILL.–Square Inc., a startup company offering mobile point-of-sale payment-acceptance services, is willing to talk to merchant services sales agents and other distributors, but just not yet, according to the company’s CEO.

During a conference call with analysts July 21, Alliance Data Systems Corp.’s top executive reiterated the company’s view that its private-label credit cards serve as loyalty products designed to drive purchases at partnering merchants.

Card-skimming attacks on ATMs remain a significant threat for most European countries, according to an ATM crime update from The European ATM Security Team.

American Express Co. is preparing for the future of payments.

WASHINGTON — President Obama's signing of regulatory reform legislation Wednesday signaled the official end of a hard-fought legislative battle but just the beginning of the tougher task of implementing the new law.

Fidelity National Information Services on July 21 reported revenue of $630.6 million for its Payment Solutions unit for the second quarter ended June 30, down 0.08% from $631.1 million during the same period last year.

U.S. Bancorp may reduce or eliminate debit card reward programs and offset actions in its acquiring business in response to financial reforms that likely will reduce debit card interchange revenues, Andrew Cecere, vice chairman and chief financial officer, told analysts July 21 during a conference call to discuss second-quarter earnings.

The government of Oman has taken further steps to enhance access to its e-Governance initiative designed to promote cashless transactions countrywide.

GSM Kazakhstan, also known as Kcell, has become the first mobile operator in Kazakhstan to offer its customers an online system to top up their prepaid mobile-phone accounts, the company announced in a July 20 statement.

WASHINGTON — President Obama signed into law Wednesday a sweeping overhaul of the nation's financial services system in a widely attended ceremony at the Ronald Reagan Building in Washington.

Advanced touch screen ATMs are getting a major boost in Spain via a BBVA pilot, while thousands of UK machines are now open to German users of the interbank girocard (a network that binds all German ATMs).