Payments

Location-based offers are a major selling point of mobile wallets, but one company recently told the feature to get lost.

The payments industry is seeing only the “first steps” of Near Field Communication development as a contactless-payment technology, so it stands to reason that lawsuits related to NFC patents would not be far behind.

The Federal Trade Commission put a robocall operation out of the telemarketing business under a settlement resolving charges that the operation made more than two billion calls pitching a variety of products and services, including worthless extended auto warranties and credit card interest rate-reduction programs.

BURTON, Mich. – ELGA CU recalled about 450 Visa cards and discovered thousands of dollars in fraudulent transactions after being notified by the card company they may have been compromised.

Discover's new deal with BilltoMobile looks like yet another way to cover its bets as mobile payments evolves in multiple directions.

Seeing a major opportunity in the U.S. market, Monitise PLC and Clairmail Inc. on March 26 announced a merger deal in which they will cross-pollinate and cross-sell each other's technology in their respective markets.

If PayPal Inc. strikes with a new payment application, it stands to reason Square Inc. would respond with a new twist on its mobile-payment service.

Credit card issuers' account charge-off rates, already exceptionally low, remain on track to hit bottom later this year.

PARCHMENT, Mich. – First Community FCU’s “Skip the Fee – Swipe for Free” debit card program resulted in $172,500 in debit fee givebacks and prizes to members, including a $5,000 grand prize.

One in three U.S. adults is interested in mobile and Near Field Communication-based payments, new data suggest.

A Singapore-based company last week announced the planned launched of a mobile-payment service that uses a card-reader device similar to the one offered by Square Inc. and other companies.

WASHINGTON–Congress on March 22 took its first cautious steps into mobile payments with a House hearing focused on security issues and prudent regulation for the rapidly evolving mobile market.

SIOUX FALLS, S.D. – A new program offered by Sioux Empire FCU gives savers the ability to put extra change away from debit card purchases by rounding up transactions to the nearest dollar and adding the difference to the member’s savings account.

PLEASANTON, Calif. – Patelco CU has implemented UChoose Rewards, a customizable rewards program designed to incent cardholder usage and provide consumer benefits for both debit and credit programs.

Venmo Inc. has lifted the “Invitation Only” sign off of its social mobile-payments application, hoping to expand quickly a person-to-person payment system that already accommodates as much as $10 million in transaction volume per month.

SPOKANE, Wash. – Spokane Teachers CU has signed a multi-year contract with First Data Corp. to be part of its STAR Network for ATMs and point of sale.

DENVER – Bellco CU unveiled a new look and also a new rewards program for its Visa Platinum Rewards Credit Card to celebrate the active Colorado lifestyle featuring outdoor images captured by local Colorado photographers.

The Credit Union National Association and the National Association of Credit Unions joined a broad coalition of card issuers last week in a brief opposing a lawsuit filed by merchants claiming the Federal Reserve did not go far enough in capping fees on debit transactions last year.

LAKE MARY, Fla. – CFE FCU, formerly known as Central Florida Educators CU, donated $90,000 to Orange, Seminole, and Osceola County School Boards to support funding of school programs and as result of its MyCFE4Schools debit card partnership program.

This is the second in a series on JPMorgan Chase's delinquent credit card collections operation. The first article can be viewed here. Further coverage will follow.