Payments

Many companies are seeking fresh ways to use mobile phones to add functionality and security at ATMs.

MECHANICSBURG, Penn. – Members 1st FCU has begun offering its International Visa Re-loadable Pre-Paid EMV Chip Card, for members visiting locations outside of the U.S., where the magstrip cards issued in the U.S. are sometimes inoperable.

VeriFone is making good on its original promise to open up its Square-like mobile card reader, Sail, to developers.

Google Wallet is under increasing pressure — though the mobile wallet has been in consumers' hands for over a year, Google still has fewer issuer partners than its rival Isis, and with the Merchant Customer Exchange wallet on the horizon, Google now faces competition from the very retailers it seeks to attract.

The number of open retail credit card accounts in the U.S. has reached heights not seen since the end of 2009.

Apple's iWallet is much anticipated but, due to Apple's notorious secrecy, still very hard to picture. A new patent lends some slight clarity to the company's mobile-payment vision.

The rate at which lenders declare credit card loans uncollectible ticked up at four of the six largest issuers in July from the previous month.

Delinquency rates across credit card, home and auto finance accounts dropped by double-digit percentages in July compared with a year ago, according to Equifax.

Securitized credit card charge-offs in July rose from the previous month, but the jump was due to one-time factors, according to Moody's Investor Service.

WESTLAKE VILLAGE, Calif. – Credit cardholders are increasingly satisfied with their plastic.

RALEIGH, N.C. – Coastal Federal Credit Union has introduced a Visa product it has dubbed the “Big Ticket Card” that offers six months interest-free financing on all individual purchases or balance transfers of $600 or more.

Nearly a third of acquirers surveyed still view mobile payments as a threat.

DES MOINES, Iowa – Underserved consumers, including those in the Hispanic community, are spending in excess of $29 billion per year on non-bank financial services, such as money orders, check-cashing and payday advances – meaning prepaid reloadable cards provide CUs an excellent entryway to serve this consumer segment.

Bank of America Corp. stopped selling credit card customers add-on products that halt borrowers' minimum monthly payments in case of a job loss or other hardship.

As a new partner for PayPal, an early partner for Isis and the first issuer to sign on to a new method of participating with Google Wallet, Discover Financial Services is establishing itself as a foundation for mobile payments initiatives.

Credit unions considering reissuing plastic to make the move to EMV might want to include contactless in the upgrade.

Target Corp., which earlier this year took its credit card portfolio off the market because of a lack of suitable offers, appears to be getting closer to securing a deal.

CHICAGO – More consumers are making their credit card payments on time, as the delinquency rate on credit cards dropped in the second quarter to one of its lowest levels since 1994.

The rumor mill is catching fire as Apple nears its next product launch. Changes to the iPhone, iPad and other systems could affect initiatives at many payments companies.

DOVER, N.H. – 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.