Payments

While analytics are being touted as the best means to target members, at least three credit unions have found that creativity is not a bad second strategy.

Google has reinvented its mobile wallet a few times, and its latest reinvention, a rumored plastic card, raises questions about the mobile-pay product’s direction.

Consumer credit increased in September thanks largely to student loan growth but Americans appeared to use their credit cards more sparingly, according to Federal Reserve data released Wednesday.

INDIANAPOLIS – Indiana Members CU is now offering a credit card rewards program that allows members to earn points through qualifying credit card purchases to redeem as travel awards and merchandise rewards.

NEW YORK – American Express, which is both a customer and competitor of Visa and MasterCard, on Friday filed a formal objection to the landmark antitrust settlement with the two card networks, saying if approved it could preclude AmEx from pursuing its own legal remedies against Visa and MasterCard.

SLIDELL, La. – St. Tammany FCU is participating in the latest VISA NFL promotion, allowing each of its Visa cardholders to enter a sweepstakes to win a trip to the NFL’s four biggest events, the 2013 Super Bowl, 2013 NFL Draft, 2013 NFL Kick-Off and the 2013 International Series Game in London.

EAST LANSING, Mich. – Michigan State University FCU has upgraded its Platinum Plus Visa Credit Card, doubling the amount of rewards members receive for purchases to 1% back with additional opportunities to earn greater rewards by shopping at select local retailers.

Huntington Bancshares said it plans to add 250 jobs in the Buckeye State over the next four years to support its new credit card business.

Target Corp. says it has reached an agreement to sell its consumer credit card portfolio to TD Bank Group.

NEW YORK—Anonymous, a collective of hackers, claimed last week that as part of a cyberattack on HSBC it was able to stel information on tens of thousands of credit unions. HSBC, however, issued a statement late last week saying its data had not been breached.

American Express Co. reported third-quarter net income of $1.25 billion, up 1% from the same period a year ago, as customer spending grew worldwide.

A TransUnion study found that people who monitor their credit files open significantly more new credit cards and auto loans, and perform about as well on those loans as people who do not monitor their files.

BIRMINGHAM, Ala. – Credit card delinquencies for five major credit card issuers increased in September, according to LowCards.com.

CHICAGO – Groupon is now offering restaurants, bars and cafes its Breadcrumb point-of-sale solution, a move that ties the company closer to merchants.

One year after the implementation of the Durbin Amendment rules and the outlook for CU debit interchange is mixed, with transaction-driving strategies working amid concerns about whether the extra usage is driving sufficient revenue to overcome shrinking per-swipe income.

Analysts have plenty of suggestions for debit strategies post-Durbin.

NEW YORK – Attorneys for five named plaintiffs in the antitrust suit against Visa and MasterCard withdrew from the case Friday after their clients walked away from the landmark deal they helped craft.

Many third-party mobile payment providers, such as Google and Isis, are seeking bank partners for their mobile wallets. Should banks agree to their terms or go it alone?

MasterCard's approach to mobile payments is driven greatly by the series of mobile phone innovations simultaneously occurring around the world, according to the network's group executive for mobile.

If mobile payments can be presented as an opportunity for merchants and point of sale developers, rather than a disruptive threat, the attitude will speed adoption and provide consumers with a better experience, according to Matt Cicciari of Merchant Warehouse.