Payments

"We're open to partnering and playing with the existing networks, but not under the existing rule base," says Jamie Henry, senior payment director of Wal-Mart Stores Inc. "The existing rules that are in place for card-based payments are not going to be acceptable for mobile-based payments."

Delinquencies in Capital One Financial Corp.'s U.S. credit card business declined during December while chargeoffs improved, the lender reported.

VeriFone Systems announced Jan. 14 a suite of payment products, including an iPad mini version of its Payware Mobile card reader, a similar sleeve for the iPhone 5 and VeriFone HQ, a cloud-based system that allows retailers to monitor their terminals and manage their brands.

U.S. credit card ABS chargeoffs fell to a record low in December to finish 2012 on a positive note, according to index results from Fitch Ratings.

It's been more than two months since Lower Manhattan was engulfed by flood waters from Superstorm Sandy and many merchants are still without the ability to accept credit and debit cards.

The Federal Reserve reported Tuesday that consumers remained cautious with credit card spending in November but took on more debt to attend school and purchase cars.

Private Label Is Dead. The headlines proclaimed this just a few years ago. Yet today we see new headlines announcing private label deals by the dozen.

THOUSAND OAKS, Calif. – Credit union sales of credit card portfolios soared to $33.1 million and 37 deals last year – with another $6 million in deals pending – from just $5.3 million and 10 transactions in 2011, according to a new report by card consultants R.K. Hammer

It's going to be a big year for mobile payments. Now that several mobile wallets are in consumers' hands, the companies behind them are refining their products. What do Apple, Isis, Google, PayPal and others have in mind for the near future?

MOLINE, Ill. – IH Mississippi Valley Credit Union has signed with IQR Consulting to conduct an in-depth analysis of the cooperative’s credit card and checking account portfolios.

Delinquencies on bank card payments fell to an 18-year low for the third quarter, and a combined ratio covering late payments in eight loan categories also dropped, the American Bankers Association reported.

Consumer credit originated year-to-date through last September increased nearly 30 percent during the same timeframe in 2011, according to Equifax's latest National Consumer Credit Trends Report.

WASHINGTON – The Federal Trade Commission (FTC) on Friday issued a report that concluded small issuers of debit cards, including credit unions, have been largely unaffected by new rules that have limited interchange.

The FTC issued a report to Congress explaining steps the agency has taken in connection with new rules on debit card transactions that were put in place last year.

ATMs do a lot more now than they did in 2011. They still accept deposits and dispense cash, but today a few also dispense prepaid cards, connect to Facebook, and interact with smartphones. Other types of machines are also treading on ATMs' turf.

Google’s mobile wallet appears to be staggering to the finish line of 2012. After all, it was a year that started with a reported security breach and is ending with speculation that the search-engine giant will add a plastic card to the otherwise entirely digital wallet.

The Google Wallet we see today is a much different product from what we had a year ago. Here are the major changes that took place this year, and the challenges Google faced — and still faces today.

LIVE OAK, Texas – Randolph-Brooks FCU reported it has returned more than $2.9 million to members as part of its Gold Cash Back MasterCard credit cards.

LAKE BLUFF, Ill. – Since the Durbin Amendment rules went into effect last October, banks, thrifts and credit unions with greater than $10 billion in assets will have lost an estimated $5.6 billion in debit card interchange revenue through the end of 2012, according to Moebs $ervices.

U.S. credit card holders continued to pay off their balances at historically strong rates in November, defying predictions that delinquencies would rise as the economy improves and card issuers take on more risk.