Payments

Alternative-payments providers such as PayPal Inc., ProPay Inc., Square Inc. and SparkBase Inc. may be better-positioned than traditional payment card networks to cause the marketplace disruption needed to make mobile payments more mainstream, an Aite Group analyst suggests in a new report.

PayPal Inc. plans to provide a mobile payments system that would enable Chinese game developers on the Android mobile platform to tap new international markets including North America and Europe, the company recently announced.

The burgeoning growth of mobile payments could become the tipping point for proposed national legislation that would force merchants to charge state sales taxes for the first time on many goods and services sold through online channels, a national tax expert tells PaymentsSource.

U.S. consumer interest in using mobile phones to make purchases and in receiving incentives and coupons to shop at retailers has doubled since last year, new research suggests.

After analyzing the mobile-banking offerings of the top 25 retail banks by deposits, Javelin Strategy & Research has declared that JPMorgan Chase & Co. has the best, followed closely by Wells Fargo & Co. and Bank of America Corp.

HSBC Holdings PLC sought to assure the markets Nov. 9 that modest troubles collecting from borrowers last quarter have not disrupted the pending sale of its U.S. credit cards to Capital One Financial Corp.

A group of U.S. senators on Wednesday introduced legislation that would allow states to cap credit card interest rates, which they say are riding at “extortion” rates for some consumers.

PHILADELPHIA – Philadelphia FCU yesterday said it signed with U.S. Bancorp’s Elan Financial Services for credit union-branded Visa credit cards with reward options for consumers and businesses.

Continuing a trend that started last summer, Dwolla Corp. has added two more credit unions that will offer customers easier access to Dwolla mobile-payment accounts through their online-banking programs, the mobile-pay startup announced Nov. 8.

Mobile Money Network has landed a major retailer to participate in the initial phase of a mobile-payment software application launch that will enable United Kingdom consumers to purchase products for home delivery from any location by typing a product code into their phones, the London-based mobile commerce company announced Nov. 4.

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.