Payments

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.

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.