Payments

Hold the phone! Google Wallet appears to have a security leak.

If the world of mobile and contactless payments moves so fast it seems like a wild ride, MasterCard Worldwide and Lo-Q PLC have targeted the perfect setting.

Could consumers’ fears about crooks intercepting their financial data and spying on their locations dampen adoption of mobile payments?

CHARLOTTE, N.C.-The need to boost revenue may be prompting more credit unions to buy back their card portfolios, and Bank of America's announcement last week that it will discontinue issuing cards for credit unions will only speed that process, two card analysts suggested.

CHAMPAIGN, Ill. – One lucky member of University of Illinois Employees CU here will win the opportunity to join the Fighting Illini football team when it plays UCLA in the Kraft Fight Hunger Bowl Dec. 31 in San Francisco.

CHICAGO – Just days after data was released showing Americans’ overall mortgage debt is at its lowest level in five years, new data also shows U.S. credit card delinquency rates are at their lowest levels in 17 years.

Banks trying to make up for lost revenue should consider adding fees for new products and services such as mobile banking or payments, rather than charging customers for using debit, market-research experts at Mintel Comperemedia advise.

Fraud has not yet become common through mobile-banking channels, but experts warn that cyber criminals likely have mobile banking and mobile payments on their radar.

Google Inc. could score much-needed points in the mobile-payments market if rumors prove true and the company succeeds in launching its Google Wallet application in London in time for the 2012 Summer Olympic Games, one mobile-marketing expert believes.

Young, tech-savvy adults may be the quickest to embrace new technology, but don’t bet on them trusting social media sites or funky startups with their cash. Banks win out easily, at least for now.

ONTARIO, Calif. – A recent card reader scam at San Francisco area Lucky supermarkets has resulted in identity theft for some store employees and customers, and others fearful that their debit or credit card accounts may have been compromised.

More consumers are using smartphones to pay monthly bills, and cards are their preferred method of payment, according to new research from Fiserv Inc.

A wristwatch in the United Kingdom can do a lot more for its owner than provide an accurate time, if it happens to be a new watch2pay model that can complete contactless payments.

The Consumer Financial Protection Bureau on Wednesday unveiled a prototype for a simplified credit card agreement, the latest in a series of initiatives aimed at improving financial disclosures.

MIAMI – Balance Transfer Day, a Facebook campaign launched in the wake of the highly publicized Bank Transfer Day, has been revealed to not be as independent as the latter’s motivations.

CLEVELAND – The Consumer Financial Protection Bureau is testing a prototype credit card agreement at Pentagon Federal Credit Union that is designed to use simpler, plain language so consumers have a better understanding of the terms.

Verizon Wireless’ decision to deny Google Inc.’s mobile wallet a place on the upcoming Samsung Galaxy Nexus smart phone likely has more to do with compensation than security, some observers contend.

The trend of U.S. credit cardholders putting credit card payments ahead of mortgage payments that began in early 2008 shows no sign of abating in the immediate future even as the economy gradually improves, a team of TransUnion LLC analysts contends.

Starbucks Corp.’s ability to integrate its closed-loop prepaid card with a loyalty program has helped drive customer usage of the company’s smartphone application to make mobile payments, notes one industry observer.

Meriwest Credit Union of San Jose, Calif., will use VSoft Corp.’s technology for remote deposit capture in branches and at ATMs, the vendor announced Dec. 6.