Payments

PayPal Inc. has delivered on its promise to activate contactless payments for its mobile wallet.

LAS VEGAS—Established payment card networks are well-positioned to continue generating profits over the long haul, as long as they continue adapting to changing payments technology, a panel of investment industry analysts told attendees Nov. 3 at the ATM, Debit & Prepaid Forum. But Near Field Communication-based mobile payments and mobile wallets might fall short of expectations, the analysts suggested.

Emphasizing a mobile-payment method that translates to an enhanced shopping experience for consumers, AisleBuyer LLC has added a New England supermarket chain that will offer its “virtual checkout” application, the Boston-based mobile commerce provider announced Nov. 7.

Square Inc. continues to secure investors, and the latest one is bringing a lance to the table.

MIAMI – A federal judge on Monday gave final approval to a $410 million settlement in a class-action lawsuit affecting more than 13 million Bank of America customers who had debit card overdrafts during the past decade.

Accertify Inc. will add its fraud-prevention program to the mobile-banking offerings of several Latin American banks after signing an agreement with payment processor Tik Tek Solutions, S. de R.L. de C.V, the fraud-prevention and risk-management provider announced Nov. 7.

Intuit Inc. has secured another partnership with a telecommunication company to sell its GoPayment software application and card reader.

PHOENIX-Arizona Central Credit Union expects to see new members join because of fees from the big banks, but one person said that influx is still months away.

BROOKFIELD, Wis.-Bank debit card pricing is not only driving consumers to alternate providers, it's also creating more credit card users.

ST. PETERSBURG, Fla.-Merchant-funded rewards programs are on the rise, thanks to the need for issuers to keep rewards programs in place on debit cards to stay competitive.

BOSTON-The news last week that Bank of America and other big banks were abandoning plans to add new debit fees doesn't mean other pricing changes aren't in the offing.

RANCHO CUCAMONGA, Calif.-CO-OP Financial Services has updated and upgraded CO-OP Total Revelation, its portfolio management solution designed to maximize revenue from debit cards.

DES MOINES, Iowa-Credit unions need to keep their eyes on alternative payment strategies because they operate at an advantage over traditional payments systems.

WEST PALM BEACH, Fla. — Bank of America and other major banks may have abandoned plans to charge monthly fees on debit cards, but that hasn't stopped credit unions from taking advantage of all the publicity generated in the lead-up to Bank Transfer Day by announcing competitive responses of their own.

WASHINGTON-Will the big banks' retreat on debit fees take some of the steam out of consumers' intentions to transfer their funds and make the switch to credit unions?

WARMINISTER, Penn.-With BofA's $5 debit charge firmly planted in the minds of many consumers, Freedom CU is giving that same amount back to its members for using the CU's debit card.

MANHATTAN, Kan.-Many credit unions are seeing a rush of new members joining because of fees from the big banks, but not all.

MADISON, Wis.-Bank of America may have backed off its planned $5 per month debit card fee, but one analyst is cautioning credit unions to recognize that other pricing changes are still likely at major banks.

The global point-of-sale payment terminal market is enjoying a technology boom as manufacturers peering just over the horizon see rampant demand for in-store devices that can accommodate both contactless payments and card transactions authenticated by EMV chip-and-PIN security protocols.

GREENWOOD, Colo.-Two credit unions looking for more life out of their debit card programs say they have had great success with CO-OP Total Revelation, a portfolio management solution from CO-OP Financial Services.