Cards

Some card companies use sports sponsorships to generate loyalty among cardholders, but they also are good vehicles to try out new products, one consultant contends.

Community banks are taking advantage of a new law on overdraft protection programs, lowering fees and aggressively seeking new business, while many credit unions are giving up on the program altogether, according to a new survey.

The Delhi Metro Rail Corp. has teamed with Delhi Cycles Pvt. Ltd. to launch a service to enable commuters in Delhi to use reloadable smart cards to rent bicycles at some of its stations, an official from the Delhi metro operator tells PaymentsSource.

Visa Inc. has formed a partnership with McDonald’s Corp. in which users of Visa cards will receive free food or other prizes when buying Value Meals at the fast-food giant, the card brand last week announced.

Why would a merchant need to identify the card in any case? The "Honor all Cards" rules set forth by the card networks apply to all products.

Bank of America Corp. has shown steady growth in its online-banking and bill-pay segments over the past five years, PaymentsSource data show. The number of BofA accounts in which customers bank online as of March 31 was 29.85 million, up 129% from the 13.05 million five years earlier. Meanwhile, accounts used to pay bills online rose by 141%, to 15.08 million from 6.26 million.

Jack Henry & Associates Inc. said Friday that the president of its Symitar division, which serves credit unions, would step down in October.

Two new e-wallet services from Visa Inc. are aimed at making the payments company the focus of online shopping — even if a Visa card is not.

The Payment Card Industry Security Standards Council has removed two Ingenico S.A. PIN pads from the list of approved PIN-entry devices following reports they are susceptible to breaches.

Four unemployed men were charged yesterday with using stolen trucks and a forklift to boost four credit union ATMs, netting them more than $400,000 in cash.

Buoyed by a recent investment from Wal-Mart Stores Inc., prepaid card company Green Dot Corp. said this week that it will not retain any of the proceeds from its upcoming initial public offering.

The Federal Reserve Board faces a variety of issues should Congress approve the financial-reform bill and give the agency the task of setting debit card interchange rates. Among those is an apparent conflict of interest that might force the Fed to give up its role as one of the nation’s two automated clearinghouse operators, according to Stuart E. Weiner, former director of payments at the Kansas City Fed.

Tempo Payments Inc. on July 1 announced the launch of the Doctors Without Borders affinity decoupled debit card.

Cardtronics Inc. on July 1 announced an agreement in which is will manage ATMs deployed in 47 Savings Oil Co. locations throughout the Southeast.

How is a gift card different from a prepaid card?

The top priority for a growing percentage of international banks to maximize ATM revenue is to increase customer services available at the machines, recently released survey data suggest.

The debit interchange proposal in the regulatory reform bill is expected to hurt issuers' bottom lines but could lead to new revenue opportunities for terminal makers.

ATM manufacturer Tranax Technologies Inc. earlier this month filed for Chapter 7 voluntary bankruptcy protection, citing debts of between $1 million to $10 million.

The rise of small card-not-present transactions for virtual goods and other online services is helping to fertilize runaway growth of micropayment-based card-fraud schemes, at least one consultant contends.

Allpoint ATM users can now access an additional 215 surcharge-free machines in the New York City area thanks to a long-term agreement with Actors Federal Credit Union.