Payments

Any uncertainty in mobile wallet development fuels speculation in an industry anxious to see what shape mobile commerce will ultimately take. In this industry, products that make it even farther than where Isis is today don't always work out.

Many in the industry are starting to catch on to the concept that payments, while a critical foundation for mobile wallets, are taking a back seat to the sexier consumer-facing digital coupons, loyalty programs or targeted promotions through a mobile phone.

The LevelUp mobile payment system, best known for providing free incentives to consumers and free payment processing to merchants, picked up 4,000 merchants and 300,000 end users since its July 2011 inception. But with so much being given away for free, is there a future for the startup once its new clients become regulars?

A Philadelphia company that used telemarketing services to pitch platinum credit cards has settled charges brought by the Federal Trade Commission.

Braintree says its vision for the future of e-commerce received a significant boost when the online and mobile payments provider lured a Google Inc. executive into its fold last month.

BENTONVILLE, Ark. – WalMart yesterday said it is teaming with American Express to offer a prepaid card at WalMart stores.

HAMBURG, N.Y. – Meridia Community CU has joined Credit Union 24 to provide more surcharge-free places where its members can access their money.

MIAMI – Dade County FCU has completed the conversion of its credit card processing to The Members Group.

To drive credit card revenue, the CU can't "set and forget" the card once it's issued, reminds Dan Lozier, director of client relations for TMG, who recommends aggressively pursuing activation and usage strategies, along with good analytics.

RewardsNOW is partnering with Zavee to offer what the companies claim is a new type of merchant-funded program tailored to the needs of community financial institutions and local merchants.

PayPal was an early supporter of Bump, whose technology could simulate an NFC payment by moving money when users' phones sensed they were being tapped together. But PayPal dropped Bump from its mobile app this year. Where does this leave Bump?

Prosper Marketplace, the online peer-to-peer loan facilitator, announced Oct. 3 that it hired Josh Tonderys, a former executive at Barclaycard US, to be its chief risk officer.

RUTLAND, Vt. – Heritage Family CU has signed with IQR Consulting to provide it with a review of its credit and debit card portfolio performance.

ROCKY HILL, Conn. – Nutmeg State FCU has completed the conversion of its credit card processing to The Members Group.

As new mobile-wallet systems appear and old ones fade, many are asking who will win the “mobile wallet wars.” According to the mobile-pay venture Isis, there may never be a clear winner.

MOLINE, Ill. – Deere Employees CU has contracted with IQR Consulting to provide it with a review of its credit and debit card portfolio performance.

Everyone seems to want the success that Square has in the mobile payments marketplace, and Amazon appears to be the next in line to join the device fray.

BURLINGTON, Vt. – Vermont FCU has contracted with IQR Consulting to provide it with a review of its credit and debit card portfolio performance.

Although American Express received lighter fines than the two previous credit card players targeted by the Consumer Financial Protection Bureau, many believe the CFPB's third enforcement action is its biggest statement yet.

PHILADELPHIA – Freedom CU yesterday announced a special low 0.99% six-month rate for its Freedom Visa card.