Payments

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.

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.