Payments

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.

Capital One Financial Corp. reported Wednesday that delinquencies and chargeoffs at its U.S. credit card business fell in July from the month earlier.

BIRMINGHAM, Ala. – For the second time in the last three months revolving credit is down.

LAKE BLUFF, Ill. – Today marks the second anniversary of the Fed’s Reg E Opt-In regulation for debit card and ATM overdrafts, and one economist says a number of lessons have become apparent.

The national credit card delinquency rate dropped to 0.63% in the second quarter ended June 30 from 0.73% the previous quarter, according to TransUnion.

SALEM, Ore.-Maps CU here has increased its partnerships with local businesses and boosted transaction volumes on credit/debit cards by instituting a program encouraging consumers to patronize local businesses.

Merchant-funded rewards-those coupon, cash-back, and instant savings programs-are gaining steam. But for merchants to keep those discounts coming for the lower-cost alternative to standard rewards, card issuers must show retailers the program's value.

Merchant-funded rewards programs that perform best are those whose offers are simple, provide a mix of online and in-store redemption, and include local businesses as well as national retailers.

Questions still surround merchant-funded incentives, including the return they provide retailers and how well they drive issuer transactions.

If the credit union is considering adding merchant-funded rewards, Tim Kolk, owner of TRK Advisors, recommends paying close attention to all the different platforms available.

The full impact of the Durbin rules have yet to trickle down to financial institutions below $10 billion, but it's coming.