Payments

What did mobile wallets look like before Apple and its peers invented the consumer smartphone market and launched App Stores to distribute systems like Passbook, Isis and Google Wallet?

Quick-response (QR) codes, the increasingly common square bar codes used in advertising and mobile payments, are stepping into new territory as a tool for bill payment.

CARSON CITY, Nev. – Carson High School now has its own “Senators” debit card for student checking accounts, designed by students through a contest held by Greater Nevada CU, which has a branch inside of the high school.

JACKSON, Mich. – Members are being given the option of choosing the card image for their debit or Visa cards for an additional fee, as part of American 1 CU’s new Instant Issue program.

State Employees CU, one of just three credit unions restricted by enactment of the Durbin amendment, said the provision limiting fees on debit transactions cost it about $40 million in lost revenue in 2012.

The CARD Act has improved disclosures to consumers, but it has had the opposite effect when it comes to its intended goal of reducing cardholder costs, according to a new analysis.

A new study shows Americans age 50 and older carry more credit card debt than younger people.

Fifth Third Bancorp has agreed to buy a credit card portfolio from Quad City Bank & Trust.

The prepaid card provider Plastyc Inc. has added a mobile remote deposit capture feature that provides instant access to funds.

Last year, KeyBank saw an important gap in its credit card strategy – not owning its card portfolio meant it did not have the control it needed to properly manage its relationships with its customers.

A German mobile network operator and a bank's digital technology unit will soon introduce a smartphone-based digital wallet and person-to-person money transfer system.

The Federal Trade Commission recently mailed 70,511 refund checks to consumers who lost money to a scheme that allegedly sold bogus "platinum" credit cards and illegally debited consumers’ bank accounts.

COLORADO SPRINGS, Colo. – Ent FCU said it has signed a five-year renewal of its card issuing contract with Elan Financial Services, a unit of U.S. Bancorp.

The U.S. District Court for the Middle District of Florida has temporarily shut down Innovative Wealth Builders Inc. (IWB), which allegedly operated a credit card interest rate reduction scam.

Mainstream consumers are still slow to adopt newer payment technology, but several cities are pushing ahead of the rest of the world.

Penalty fees fell 8% among credit card issuers last year, an industry consultant estimates.

U.S. consumers are likely to remain diligent about paying down their debts, while personal bankruptcy filings should drop again this year, according to a report by Fitch Ratings.

Walmart and the other Merchant Customer Exchange members recently announced they would opt for a software-based mobile wallet instead of one based on Near Field Communication hardware. Is this a blow to NFC's future or does the technology have enough supporters to eventually change how people pay?

Many companies are trying to repurpose iPads as payment terminals. Leaf, a Cambridge, Mass.-based startup, instead created a commerce-specific tablet for small-business owners.

American Express Co., the lender that plans to cut 5,400 jobs this year, said profit at its U.S. card business declined 42 percent in the fourth quarter as the firm set aside more money to cover soured loans.