Payments

Saying that today it takes the checking account AND the payment card to become a member's PFI, CO-OP Financial Services shared advice on tuning up card portfolios.

Evertec Inc., a significant acquirer processor and card issuer in Latin America and the Caribbean region for 25 years, is casting part of its business as that market's Square Inc. and looking to supercharge its payments business after its April 12 initial public offering.

The 25th Card Forum & Expo brought hundreds of payments professionals together in Boca Raton, Fla. to share strategies and ideas. Here's a recap of some of the most talked about subjects from the event.

Lawyers for plaintiffs in a Visa Inc. and MasterCard Inc. antitrust case over interchange fees asked for final approval of a settlement along with $720 million in legal fees and $27 million in expenses.

MoonClerk is a new company that's targeting a distinct segment of the payments technology market—the startups and small businesses that want to build a Web payment acceptance engine, but don't have the right tech expertise in-house.

NEW YORK – The Retail Industry Leaders Association, which represents retail giants including Walmart Stores, Target and Home Depot, on Wednesday said it will not endorse the proposed $7.2-billion antitrust settlement with Visa and MasterCard, adding a major foe to the deal.

Mobile payment provider Payleven is adding two new features to lure larger businesses—the ability to manage multiple chip-and-PIN card readers from a single master account and support for both mobile and stationary printer systems.

If you're looking for Swedish cash, don't go to a Swedish bank. Most of the country's biggest lenders have stopped manual cash-handling services in 65 percent to 75 percent of their local branches. They say cash is out as Swedes rely on credit cards, the Internet and mobile phones to make all their payments.

The retailer-driven Merchant Customer Exchange mobile payments venture is making a lot of noise, though it has yet to reveal its product. But since the final MCX app will interact with those made by its individual retailers, CVS Caremark Corp. can serve as an early example of the venture's potential.

As the Merchant Customer Exchange asserts its position in the mobile wallet market, it emphasizes that the path to a consumer’s physical wallet runs through retailers.

Virtual Piggy has two major challenges as mobile commerce expands. The youth-focused alternative payments provider has to tackle the generation gap between its users and the parents that supervise transactions, and it must maintain consistency between digital channels.

Emerging payments technologies like mobile banking and new prepaid tools present an opportunity to better serve the millions of unbanked and underbanked consumers in the United States, according to the president of global payments options at American Express.

PayPal's long-watched partnership with Discover, which will allow Discover merchants to accept PayPal payments at the point of sale, is on track to launch April 19.

Alliance Data Systems Corp. announced Tuesday that its Retail Services business has signed a long-term agreement to offer private-label credit card services for luxury retailer Barneys New York.

PHILADELPHIA – Freedom CU has awarded $1,000 to one member following the “It Pays To Use Your Freedom Visa” sweepstakes.

After exiting the credit card business for several years, a growing number of CUs are relaunching their cards programs via a third-party arrangement that gives the credit union better control over servicing.

Mansel Guerry understands the role partnerships play in helping many credit unions, especially small ones, play bigger to take on the large banks.

Noting the credit union community's continuing improvement in many key performance areas, Bob Hackney said it's time to begin focusing hard on cards portfolios again.

Monitoring the activity of your cardholders provides valuable insights that should not be ignored. Unfortunately, most banks don’t give this crucial aspect of their business the attention it deserves.

McDonalds' foray into mobile debit in Canada is helping spark a national expansion that includes broader adoption of the technology by issuers and merchants.