Payments

DEL AIRE, Calif. — Neil Goldman, CEO of Goldman Consulting & Strategy and a contributor to Credit Union Journal, suggested that there will still be a "tremendous migration" away from the big banks because the trust factor has been broken.

PayPal Inc., a pioneer in alternative online payments, is seeking to stake a new claim in the burgeoning and increasingly congested mobile-payments space, and what sets it apart may be an acquisition that occurred three years ago.

LAS VEGAS–Will mobile phones replace plastic payments cards?

In the latest phase of the transformation of its digital retail delivery strategy, Huntington Bank on Nov. 2 rolled out an iPad app that enables customers to view their accounts and account histories, pay bills, transfer funds, and locate ATMs and branches.

Consumers are complaining less about the way credit card companies treat them following the 2010 implementation of the Credit Card Accountability, Disclosure and Responsibility Act, new survey data from Consumer Reports suggest.

In maneuvers that could boost the future outlook of mobile banking and payments, Monitise PLC has received an investment from partner Visa Europe and has strengthened its U.S. operations by acquiring Monitise Americas shares owned by bank technology provider Fidelity National Information Services Inc., or FIS, the London-based mobile payments provider announced Oct. 31.

A glimpse of what some say represents the future of payments has arrived, but thus far only in certain geographic areas. With the Card Case smartphone application from Square Inc., consumers pay simply by saying their names at the point of sale.

LAS VEGAS–Mobile-wallet providers Google Inc. and Isis continue to position their products as more than just payments vehicles to replace plastic cards.

Bank technology provider Fiserv Inc. has positioned itself for a wave of growth in electronic payments.

PURCHASE, N.Y. – MasterCard on Wednesday reported its third quarter profits soared 38% to $717 million, as a growing number of cardholders continue to favor debit over credit card transactions.

SAN DIEGO – Mission Federal CU is taking the opposite tack on debit transactions than the big banks – the $2-billion credit union is paying members, instead of charging them, to use their debit cards.

SAN DIEGO – San Diego County CU is offering a $1,000 prize for the best photo of a member shredding his or her bank debit card.

Bank of America has dumped its unpopular and much criticized plan to charge a $5 monthly fees to customers who use debit cards to make purchases.

GREENWOOD, VILLAGE, Colo. – Bellco CU launched a photo contest as part of a social media contest to select potential new Visa card designs.

Companies pushing mobile-payment technology in the United Kingdom have failed to capture the imagination of consumers, who generally indicate low interest in initiating transactions using their mobile phones, new study data suggest.

RANCHO CUCAMONGA, Calif. — CO-OP Financial Services rolled out an expanded rewards offering this morning that will allow credit unions to offer rewards on debit cards, leveraging an online shopping portal to earn cash back for members.

MasterCard Worldwide has signed a letter of intent with Russian cell-phone carrier Mobile TeleSystems to bring PayPass contactless-payment functionality to Russian mobile phones, the card brand announced Oct. 28.

Use of mobile financial services rose sharply during the second quarter compared with the end of last year, according to comScore’s latest mobile banking adoption research.

Apriva LLC plans to launch a mobile wallet next month that could help independent sales organizations and agents stake their claim on part of the mobile-payments market.

Singapore's Infocomm Development Authority has put together an industry group to develop a system under which consumers may pay for taxi fares and small purchases with their mobile phones.