Cards

BankAtlantic, one of the largest financial institutions in Florida, has upgraded its instant card-issuance technology to offer unembossed cards at all 100 of its branches, according to bank and technology provider Dynamic Card Solutions.

Nepal’s central bank recently approved a regulation to increase limits on cash withdrawals from ATMs in India for its accountholders who travel there.

Banking customers in India soon will be able to withdraw cash from ATMs without using a bankcard, thanks to the “Cardless ATM” launched by the Indian operation of Roamware Inc., a San Francisco-based financial-services provider.

The Federal Reserve Board is planning to offer same-day settlement for some automated clearing house payments, starting Aug. 2.

A bureau of the U.S. Department of the Treasury June 21 proposed new rules that would deter money laundering and terrorist financing through nonbank-issued prepaid products such as closed-loop cards and mobile phones.

Accelerated Payment Technologies Inc. hopes its recent name change will further its ambitions to sign up more merchants for its point-of-sale processing services. It also is looking for a bit of help from software vendors.

PNC Financial Services Group Inc. has struck an ATM branding deal with Cardtronics Inc.

Two foreign banks operating in Singapore will be the first to use a service launched on June 21 that enables consumers to shop using their ATM and debit cards, according to Card Alliance Pte. Ltd., which is providing the service.

Credit unions across the country are reporting soaring debit card use by their members as the nation abandons the use of cash and checks for the convenience of electronic transactions.

To reduce the cost to distribute financial-aid checks, North Central Missouri College in January began depositing the funds into students’ campus card accounts. Since making the change, the school not only has saved money, “but we haven’t had any negative feedback, especially because students now have access to their money quicker,” Sharon Barnett, the college’s vice president of administrative services, tells PaymentsSource.

Wells Fargo & Co. is turning to its automated teller machines to provide more details — faster — to online banking customers.

The debit-interchange amendment many observers expect lawmakers to approve June 22 will negatively affect debit card issuers, but adjustments made this week mean banks and payment networks were spared from some potentially more-dire effects, analysts suggest.

Government regulators in the United Kingdom should intervene to reduce how much it costs merchants to accept card payments, the British Retail Consortium contends.

More and more banks in Nigeria have begun shifting to EMV chip-and-PIN cards following various directives and warnings from the Central Bank of Nigeria, an official from the bank tells PaymentsSource.

The city of Pune, India, has begun offering residents a contactless smart card they can use for small purchases at participating merchants in Pune and in nearby communities.

House conferees reached an accord Monday with Sen. Richard Durbin, D-Ill., on a provision of the regulatory reform bill that would allow the Federal Reserve Board to regulate interchange fees on debit cards.

House and Senate conferees have apparently reached an agreement on the controversial interchange amendment to the bank reform bill that would retain a provision establishing the Federal Reserve as a regulator of so-called swipe fees on debit card transactions, a measure that is avidly opposed by credit unions and banks.

Card industry representatives are criticizing a Washington hearing into federal payment of interchange fees that they say gave their side little opportunity to advance its position.

U.S. Sen. Richard Durbin, D-Ill., on June 21 announced adjustments to the debit-interchange amendment he hopes will smooth its passage as members of the House-Senate conference committee convene tomorrow to discuss its inclusion in the joint financial-reform bill.

As negotiations over the debit-interchange amendment in the financial-reform bill come to a head this week, the National Retail Federation is airing a 60-second radio commercial urging consumers to call their congressmen to “stop the bailout” of big banks and credit card companies.