Payments

"A burglar cannot rob 300 homes in one night, but a cybercriminal can attack 300 mobile devices at a time," said Dr. Markus Jakobsson, principal scientist, consumer security at PayPal.

Citigroup is testing new mobile payment features with its U.S. commercial cardholders in anticipation of a global rollout.

Credit unions issuing debit or credit cards should plan to migrate to chip technology soon. That's the view held by three analysts speaking at America's CU Conference.

To hear Dan Wagner tell it, one would think the CEO of London-based mPowa was ready to enter the ring for a prizefight against all comers in the world of mobile card-based payments.

Almost a year ago, the telecommunications companies backing the Isis mobile wallet venture were clear that they would rely on Near Field Communication. But as technology advances, there may be wisdom in adopting an alternative.

PENSACOLA, Fla. – Pen Air FCU has rolled out a new credit card featuring the logo of the local Blue Wahoos, the Double-A minor league affiliate of the Cincinnati Reds.

TALLAHASSEE, Fla. – Credit union 24, one of only two surviving interstate electronic funds transfer networks exclusively for credit unions, said Jim Park is retiring at year-end after 30 years at the helm.

WASHINGTON – The Federal Trade Commission on Tuesday filed suit against Wyndham Hotels, claiming the hotel and timeshare company’s failure to establish standard security measures led to three data breaches at its hotels in less than two years, exposing as many as 670,000 credit cards to hackers.

Banks should be in the forefront of a payments world moving toward mobile commerce, according to Monitise CEO Alastair Lukies.

Changes in consumer spending behavior and payment card usage demand FIs carefully segment their credit and debit strategies to grow revenue in the coming years.

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

Credit unions are being urged to pay closer attention to a shift in consumer credit card usage.

The debit card likely will not go the way of the paper check, but its role is rapidly transforming, and its days as a single-purpose product are looking increasingly numbered.

Positive credit card charge-off trends resumed during May as the average charge-off rate for credit card receivables in securitized trusts fell, reaching its lowest point since October 2007, Moody's Investors Service Inc. reports.

Mobile wallet mania is experiencing another surge that some consider overblown.

Views appear mixed on whether PCI compliance matters with mobile payment dongles, but one independent sales organization says adherence to the data-security standard is a no-brainer.

It appears that consumers are still working hard to repair their personal balance sheets, as more Americans are paying their credit card bills on time as well carrying less of a balance.

Inside Secure is opening up a Near Field Communication technology patent-licensing program on the heels of another company exiting the sphere.

The Girl Scout troops are once again proving to be an ideal test case for mobile card acceptance.

BIRMINGHAM, Ala. – In the latest of a growing number of consumer suits over overdraft practices, a group of America’s First FCU’s members claims the credit union manipulates electronic debit transactions from the highest to the lowest dollar amounts, in order to create overdrafts and the accompanying fees.