Payments

As it charts its course in mobile banking, Ameriana Bank faces competition in its eastern Indiana footprint from much larger banks that have been offering mobile banking for years, such as JPMorgan Chase & Co. and PNC Financial Services Group Inc.

PETERBOROUGH, N.H. – Two more credit unions sold their credit card portfolios in the third quarter.

MFoundry Inc. has received $18 million in growth capital, the mobile banking technology provider announced Dec. 5.

PhoneFactor Inc. has added a smartphone application to its suite of out-of-band security products, the company announced Dec. 5. But its effectiveness will depend on user participation, one observer contends.

SAN ANSELMO, Calif.-The nation's banks were citing decreased interchange income for what were to be new debit card fees, but one new analysis suggests that banks could have generate nearly double the potentially $875 million in monthly debit card fees just by lowering their deposit rates by as little as 0.01%.

DES MOINES, Iowa-It may not be long before prepaid reloadable card transactions overtake checks, and it's possible that at some point such transactions could even eclipse cash.

Fundtech Inc. on Nov. 30 announced the completion of its merger with Bankserv Inc. and, in conjunction, the company discussed plans for a new set of products.

MasterCard Worldwide and mFoundry Inc. are developing an application that will combine mFoundry’s mobile-banking software with MasterCard’s PayPass contactless-chip functionality, the companies announced Dec. 1.

Credit cardholders have high satisfaction levels with their most frequently used cards mainly because they never have had problems with them, according to new research from Auriemma Consulting Group.

China UnionPay has enabled more than 3.8 million merchants to accept Near Field Communication-based payments as part of a push to expand mobile-payments acceptance in China, a spokesperson for the card organization tells PaymentsSource.

The Indian Ministry of Finance is considering reducing the interest rates banks can charge on consumers’ outstanding card debts to make owning credit cards more affordable and to encourage mobile payments.

Seamless Distribution AB believes it has developed a mobile-payment method that replaces the need to shop with credit and debit cards, thus saving money for merchants who no longer would have to pay card-related fees, the payments software company announced Nov. 29.

LOUISVILLE, Ky. – Park Community FCU is partnering with two local charities to offer a co-branded debit card and will donate $5 to each charity for the issuance of each card.

CINCINNATI – Vantiv, which processed card transactions for more than 800 credit unions, yesterday introduced its first prepaid program, offering general purpose reloadable cards.

TUCSON, Ariz. – Tucson Old Pueblo CU has signed a credit card processing deal with PSCU Financial Services to facilitate its re-entry into the cards market, one of dozens of credit unions reversing recent exits from the cards business.

Consumer use of credit cards online is making a comeback, new research suggests.

Starbucks Corp. plans to ride the U.S. success of its in-store mobile-payment method by introducing the application to customers in the United Kingdom and Ireland on Jan. 5, the Seattle-based company announced Nov. 24.

London’s O2 arena has begun accepting contactless payments via card or mobile phone in conjunction with card issuer BarclayCard and Visa Europe..

Mark Jamison, who joined Capital One Financial Corp. in January as a managing vice president to help start up and lead the institution’s new Digital Innovation lab, has spent the past year building a staff of about 10 workers, many of whom have a combination of technology and startup expertise.

The nature of security threats against banks continues to change as fraudsters quickly refresh their efforts against digital and mobile banking.