Credit

The tom-toms are beating louder for action among issuers, merchants and processors in the U.S. migration to EMV smart card technology.

At first, Google seemed to have all of the necessary ingredients for a mobile wallet and Isis had the uphill climb of convincing banks to agree to a system designed by a group of telcos. Isis now has several top banks firmly behind it, but it faces many challenges as well.

For years, the payments industry has been waiting for Apple to disrupt the market with a payment-capable iPhone. Some are finally getting sick of the wait.

Consumers may not be pushing for stronger card security because they feel overly protected by the systems in use today. But they do face real costs for fraud.

Visa and MasterCard, the biggest payment networks, are prepared to settle a seven-year lawsuit brought by retailers to cut their credit-card costs later this month, three people briefed on the talks said.

Despite warnings from a few years ago that issuers would react to new regulations with higher annual card fees, most did not.

Retailing giant Wal-Mart may be pulling American Express prepaid cards from its shelves due to poor sales, according to an analyst report from Jefferies & Co.

Private-label credit card portfolios haven't looked so healthy in years, at least in terms of credit quality.

Global Payments is offering Planet Payment's Pay in Your Currency technology to merchants in Canada. Global Payments plans to offer a similar service in the U.S. later this summer.

"A burglar cannot rob 300 homes in one night, but a cybercriminal can attack 300 mobile devices at a time," said Dr. Markus Jakobsson, principal scientist, consumer security at PayPal.

Citigroup is testing new mobile payment features with its U.S. commercial cardholders in anticipation of a global rollout.

Capital Bank of Rockville, Md., said it chose Fiserv's Premier core, as well as the vendor's credit card management, electronic bill pay, person-to-person payments and other services.

Deutsche Telekom AG's announcement July 2 of a mobile payments partnership with MasterCard highlights the opportunities for issuers in mobile wallets being developed worldwide, including in the U.S.

American Express plans to begin issuing secure chip cards in the U.S. this year, and it has released a timeline for merchants to follow in accepting those cards. Like every other network's roadmap, Amex sticks closely to the plan Visa announced last August.

Visa is putting some of its most sophisticated commercial card features within reach of small and mid-sized businesses that use credit cards to cover expenses.

Even as American Express Co. seeks a less elite audience in the U.S. for its digital wallet and gift cards, its unit in Canada is aiming for the big spenders by boosting its platinum-level perks.

Google's most recent update to its mobile wallet's online pricing seems to stray from the product's focus at the point of sale. It's the latest in a series of twists and turns in Google's payments strategy.

To hear Dan Wagner tell it, one would think the CEO of London-based mPowa was ready to enter the ring for a prizefight against all comers in the world of mobile card-based payments.

Almost a year ago, the telecommunications companies backing the Isis mobile wallet venture were clear that they would rely on Near Field Communication. But as technology advances, there may be wisdom in adopting an alternative.

Merchants may feel overwhelmed at the abundance of new payment technologies, and they are understandably worried about investing in the wrong one. Terminal vendors are hoping to address those fears.