Credit

Though industry observers generally expect mobile banking to become a mainstream technology with consumers, consumers ages 18 to 25 remain the biggest users of the service, new research suggests.

With fierce competition for merchants and slim margins in the U.S. acquiring market, more ISOs are expressing interest in penetrating the largely unsaturated Canadian market, according to Federated Payments, an independent sales organization with operations in the U.S. and Canada.

The Reserve Bank of India should set the maximum annual interest rates banks may charge their credit cardholders, a parliamentary committee is suggesting in a new report.

Bankers hoping to increase cross-sales can now parse spending details from their customers' checking, brokerage and credit card accounts — at other financial companies.

Americans unexpectedly increased borrowing in March, but their credit-card use fell an 18th straight month as unemployment remained high, according to a Dow Jones report.

One of the roughly 140 proposed amendments to the financial reform legislation could have serious implications for credit card issuers, but so far the proposal does not seem to have much of a toehold.

Senate Majority Whip Dick Durbin, D-Ill. on May 6 introduced three interchange-related amendments to the Senate’s financial-reform bill, prompting swift criticism from the payments industry.

Monett, Mo.-based Jack Henry & Associates announced this morning it has agreed to acquire iPay Technologies, the largest independent electronic bill pay provider in the U.S., from venture firms Spectrum Equity Investors and Bain Capital Ventures, for $300 million in cash.

ACH Federal, which offers Web-based electronic-payment processing services to community banks and small businesses, recently reported record growth in customer acquisition and in transactions it processes over the automated clearinghouse network.

American Express Co. and Starwood Hotels & Resorts Worldwide Inc. recently launched a cobranded credit card for United Kingdom business travelers that features points-based rewards for flights and hotels.

Global Payments Inc. is offering merchants in five new Asian countries the ability to accept China UnionPay cards.

Shares of Visa Inc. and MasterCard Inc. may rise as Senate Democrats struggle to muster votes for legislation that would help merchants cut credit card fees, according to a Bloomberg News report

An increase in data breaches and online fraud has security vendors betting that banks will embrace systems that use text messages, voice biometrics or secure browsers to better authenticate people and transactions.

Visa Inc. may soon test a system for making contactless payments with an Apple Inc. iPhone using a case with a chip in it, according to reports.

Chantilly, Va.-based Online Resources Corp. Wednesday reported a first quarter loss of $200,000, down from a $1.6 million loss for the same quarter last year.

Hypercom Corp. in the coming weeks will announce the first point-of-sale terminal produced under the company’s “joint development manufacturing model.” It plans to make the terminal available for sale later this summer, a spokesperson tells PaymentsSource.

First-quarter growth in transaction-processing volume and same-store sales reflect strengthening business conditions and contributed to improved quarterly earnings for Heartland Payment Systems Inc., the company announced May 6.

U.S. consumer confidence surged in April as the belief that economic conditions are improving grew, according to survey data Discover Financial Services released on May 5.

Improvements in the economy and continued strong growth in its MasterCard program helped boost Wright Express Corp.’s first-quarter performance, the South Portland, Maine-based fleet card issuer says.

Some 64 pay stations deployed at four major parking lots at Las Vegas’ McCarran International Airport now accept PayPass contactless payments, MasterCard Worldwide announced on May 5. McCarran is North America’s seventh-busiest airport. The parking lot pay stations also accept other contactless payment brands, including Visa Inc.’s payWave.