Payment processing

Helped by a 10% increase in credit card sales from a year earlier as consumer spending accelerated, Alliance Data Systems Corp. on Oct. 20 reported significant increases in third-quarter revenue and income.

CU Business Group, a member business lending credit union service organization owned by eight corporate credit unions, has signed with BankServ to market the company’s mobile remote deposit, mobile banking, remote deposit capture and a variety of payment services to credit union’ business members.

Visa Inc. and MasterCard Worldwide, sued last week by independent ATM operators over ATM fees the operators say violate federal antitrust laws, are the target of two new suits brought by consumers regarding their ATM charges.

Citing strong cardholder spending increases across the board, American Express Co. on Oct. 19 said its U.S. Card Services unit produced income of $733 million during the quarter ended Sept. 30, up 23.2% from $595 million a year earlier.

U.S. Bancorp on Oct. 19 reported positive third-quarter earnings driven by increases in fee-based revenue, including higher payments-related income.

Bank of America Corp. does not fear losing customers because of its controversial $5 monthly debit fee, Brian Moynihan, BofA chief executive officer, told analysts today.

Customers of PT Bank Mandiri and PT Bank Central Asia, two of Indonesia’s largest banks, will be able to access one another’s ATMs beginning next month, the banks announced Oct. 11.

Marketing analysts who say mobile access is the future of loyalty programs with retailers and restaurants are closely watching to see how consumers respond to new mobile apps linking card purchases to rewards credits.

WASHINGTON — One day after introduction of a bipartisan bill to repeal the new debit interchange cap, supporters of that cap struck back Oct. 13 by calling for an antitrust investigation into whether banks and trade groups are colluding on prices.

CHICAGO—Consumers will decide which mobile wallets they want to use and that is why financial institutions should participate in as many as possible, a Citigroup Inc. executive on Oct. 12 told attendees here at the BAI Retail Delivery conference.

With e-commerce becoming a bigger target for payment data theft, Global Payments Inc. intends to provide its online merchants with another set of fraud-detection tools.

PayPal Inc. is putting itself at nearly every possible point of a consumer's banking relationship – from account-opening to payments and even reward-redemption – through a series of new partnerships.

U.S. Congressman Jason Chaffetz (R-Utah) and Congressman Bill Owens (D-New York) today plan to introduce legislation aimed at repealing the debit card interchange rate-control provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the lawmakers announced.

In an effort to thwart fraud attempts at the earliest stage of the online ticket-purchasing process, Turkish Airlines Inc. has opted to link its website to CyberSource Corp.’s fraud-monitoring services.

Though it established a two-tier rate structure to accommodate issuers exempt from new caps on debit card interchange established by the Federal Reserve Board, Visa Inc. made only minor changes to the rates acquirers use to determine how much they pay card issuers with less than $10 billion in assets.

One industry analyst calls Braintree Inc. “a David in a Goliath market” among online and mobile payment providers. Another says the Chicago-based company must be offering “something special” to experience its past year’s growth.

Transaction processor TransFirst has purchased RST Ventures Inc., an electronic payment processing services provider that does business as US Merchant Services, TransFirst announced Oct. 5.

The Secure Remote Payment Council reached a watershed moment of sorts last month when it cosponsored a one-day symposium with the Federal Reserve Board of Chicago.

Now that new Federal Reserve Board rules essentially have cut in half the interchange portion of the merchant acquirer expense for many debit card transactions, Global Payments Inc. plans to share “a significant amount of this” with its merchant clients, the company’s top executive told analyst during an Oct. 4 conference call to discuss fiscal first quarter earnings.

Citing strong execution across each of its businesses, Global Payments Inc. on Oct. 4 reported fiscal first-quarter revenue of $542.8 million, up 23.3% from $440.1 million during the same period last year.