Payments

The architect of an operation that allegedly distributed illegal robocalls offering credit card interest rate reductions is banned from telemarketing under a settlement with regulators.

Citigroup Inc. has entered an agreement to buy the Best Buy private-label card portfolio, which has about $7 billion in loans, from Capital One Financial Corp. Citi has also agreed to issue and manage new Best Buy-branded cards in the U.S.

The FTC is returning nearly $350,000 to consumers who allegedly were duped by marketers using illegal robocalls to claim they could reduce consumers’ credit card interest rates.

Payment technology is gaining momentum and changing rapidly. More and more places around the world are adopting unique methods of payment.

HSBC Card Services plans to close a collections call center in Chesapeake, Va., resulting in the loss of 164 jobs, according to the Virginia Workforce Network.

A federal grand jury indicted three people on charges of making counterfeit credit and debit cards after seizing more than 90,000 bogus cards.

PORTSMOUTH, N.H. – Service CU has implemented instant card issuance for EMV smart cards for its military members through Datacard’s CardWizard.

NOTRE DAME, Ind. – Notre Dame FCU said its promotion to save members money by transferring their existing credit card loans to a Notre Dame FCU Visa Platinum credit card at 0% for six months and 7.9% thereafter attracted $3.2 million in new loans.

Credit union members pay hefty fees at foreign ATMs, so why aren't CUs making non-members do the same when using credit union ATMs?

Older Americans today are carrying more credit card debt, as will individuals who head toward retirement 30 years from now.

Developers at Fidelity National Information Services say the speed and open nature the bank technology provider's latest product will promote greater adoption of person-to-person payments.

Despite some glitches that are hampering vigorous adoption, the companies targeting mobile payments are finding success in forging brand connections. The problem is their connections are with narrow constituencies, and are often based on competencies beyond mobile payments.

Mobile wallets showcase many features that could transform the way consumers pay, but for many users the most appealing feature is the ability to make sense of all their receipts.

ShopKeep, which provides an iPad point of sale system, began supporting payments from SCVNGR's LevelUp loyalty and mobile payment system this week. One early adopter is already reporting success with the combined system.

The use of electronic payments can have a positive impact on national economies, with nearly $127 billion added to the U.S.'s gross domestic product (GDP) in the past four years, according to a study conducted for Visa by Moody's Analytics.

Visa's V.me digital wallet is picking up momentum and the initiative is "right on the point of the spear" of the card network's product development strategy, Visa says.

Loss mitigation strategies for the payments business are getting a technology makeover that includes the same kind of emerging analysis used to attract consumers in the first place.

A crime ring based in New Jersey created thousands of fake identities to obtain 25,000 credit cards and steal more than $200 million in one of the largest scams of its type, the Justice Department said.

As many as 65% of the consumers testing the Isis Mobile Wallet are revisiting merchants often or taking advantage of mobile offers, an Isis executive says.

PHILADELPHIA – Police and Fire FCU on Tuesday said it has renewed its relationship with First Data and the STAR Network.