Credit

JPMorgan Chase & Co. plans to end debit rewards for at least some existing customers in July, according to a letter the issuer is sending to customers that cites the Durbin amendment as its reason.

Card issuers in New Zealand have come under immense backlash from both the general public and government officials after cardholders in the earthquake-stricken Christchurch area reportedly received bills with card penalty late fees.

A severe security breach at EMC Corp.'s RSA Security may threaten the thousands of banks that use its technology.

When considering whether to switch which payment card they prefer to use, consumers tend to seek out higher discounts on purchases, new research suggests.

Bank Negara Malaysia has introduced rules designed to further tighten control over household debt in the country, a spokesperson for the Kuala Lumpur-based central bank tells PaymentsSource.

While many bankers expect Apple Inc. to help bring mobile payments into the mainstream by developing its own system for the iPhone, the consumer electronics giant could also have the same effect with its advertisements.

Zong Inc. said March 17 that its mobile carrier billing service is now available for video game consoles, interactive television services, mobile websites and other channels.

Responding to growing concerns about cardholder data being exposed when merchants process payments over the telephone, the Payment Card Industry Security Standards Council on March 18 announced guidelines for handling and storing card data within audio recordings at call centers.

A number of Olympic and Paralympic fans who tried to purchase event tickets March 16 to next year’s London games were unable to complete orders March 16 if their Visa-branded payment card expired before a certain date.

To reward cardholders and to attract music lovers to the American Express Co. brand, AmEx for the second consecutive year is sponsoring its “Unstaged” concert series, which kicks off on March 23 with Duran Duran performing at the Mayan Theatre in Los Angeles.

Littlewoods Europe’s addition of Optimal Payments PLC’s Neteller’s e-wallet as an accepted payment method will help protect customers against card-not-present fraud because they will not have to enter their financial or personal information when making an online purchase, according to the United Kingdom-based online retailer, which announced the service March 15.

Representatives for the Philippines credit card industry are expressing worry over a bill that would cap card interest rates.

Bengaluru Metro Rail Corp. on March 16 launched a prototype of the contactless smart card the subway network for the Indian city of Bengaluru will use starting Apr 4, a spokesperson for the agency tells PaymentsSource.

Consumers doubt they will benefit from lower debit fees, according to a recent survey, even as the Federal Reserve is poised to direct lower interchange charged merchants by credit unions and banks.

The National Payments Corp. of India has informed banks that it will charge remitting institutions 0.1 rupees (0.002 U.S. cents or 0.0015 euros) for every mobile transaction that flows through the interbank funds-transfer service it launched last year, the company announced March 14.

India Post, the country’s state-owned postal service, has begun enabling customers to conduct and pay for postal services online, a spokesperson for the agency tells PaymentsSource.

Many small businesses that do not use mobile bill-payment services are unlikely to use them in the near future, new survey data suggest.

Online Resources Corp. is taking a less-is-more approach, consolidating many of the platforms bankers rely on after a series of poorly executed acquisitions gave it a hodgepodge of overlapping software.

Online Resources Corp.'s shares fell more than 30% Wednesday morning after the banking technology vendor announced it turned its back on an unsolicited acquisition bid and reported a disappointing first-quarter earnings forecast.

WASHINGTON – Credit union and bank lobbyists hope to convince senators who voted overwhelmingly for last year’s Durbin amendment on debit interchange and may have buyer’s remorse to change their vote and approve a proposed delay.