Payments

MARIETTA, Ga. – LGE Community CU has introduced a card customization service, “Design Your Own Card,” powered by the technology of Serverside Group.

PayPal Inc.’s brand recognition with consumers is helping parent EBay Inc.’s payment unit to position its mobile offerings as the most secure product in the marketplace, eBay’s CEO noted during a conference call to discuss the company’s third quarter earnings.

Citing strong cardholder spending increases across the board, American Express Co. on Oct. 19 said its U.S. Card Services unit produced income of $733 million during the quarter ended Sept. 30, up 23.2% from $595 million a year earlier.

China’s mobile-payments market is expected to grow considerably in the coming years even as concerns remain about security and the lack of cooperation between telecommunication operators and banks, a new report suggests.

NEW YORK – Visa and MasterCard, sued last week by independent ATM operators over ATM fees the operators say violate federal antitrust laws, are the target of two new suits brought by consumers regarding their ATM charges.

Google Inc. is entering the transit space through a partnership with the New Jersey Transit Agency, which will enable Google Wallet users to purchase tickets at select vending machines and ticket windows and pay fares on seven bus routes.

New innovation in remote deposit capture is coming fast as banks move into mobile capture and combine automated check deposits with other mobile and Web-based financial services.

Consumers in the United Kingdom are concerned about security when considering using mobile-wallet payment systems, according to new research Intersperience Research Ltd. released Oct. 14.

JPMorgan Chase & Co.’s consumer credit card unit reported net income of $849 million for the quarter ended Sept. 30, down 8.3% from $926 million a year earlier, as fewer consumers opened new accounts and the percentage of consumers revolving a balance declined.

RICHMOND, Va.-The recent move by Visa and MasterCard to increase fees merchants pay on small-ticket debit buys has raised concerns that retailers will institute purchase minimums.

SAN FRANCISCO — Banks have long argued that processing debit card transactions by starting with the largest dollar balances and working their way to the smallest benefited customers. But new documents reveal an alternate explanation: big profits.

BILOXI, Miss. – Coastal CU, formerly Biloxi Municipal CU, has joined Credit Union 24, the nation’s largest fee-free ATM and point-of-sale network.

Despite sluggish economic growth and worrisome unemployment rates, certain indicators as payment card issuers releasing third-quarter results suggest credit and debit card purchase volumes remained relatively healthy through September, according to two new reports from New York-based equity firm Keefe, Bruyette & Woods.

Marketing analysts who say mobile access is the future of loyalty programs with retailers and restaurants are closely watching to see how consumers respond to new mobile apps linking card purchases to rewards credits.

BILOXI, Miss. – Coastal CU, formerly Biloxi Municipal CU, has joined Credit Union 24, the nation’s largest fee-free ATM and point-of-sale network.

WASHINGTON – The recent announcement by Bank of America that it will implement a $5 monthly fee to use its debit cards has prompted a renewed effort in Congress to repeal the Durbin Amendment, which sets caps on debit fees for large banks such as BofA.

U.S. Bank’s launch of a mobile credit card application for iPhones could improve customer service for retail audiences, market observers say.

China is gearing up to form a new national mobile payment standard to streamline technology for operators and users, as well as optimize existing resources in the sector.

CHICAGO—Consumers will decide which mobile wallets they want to use and that is why financial institutions should participate in as many as possible, a Citigroup Inc. executive on Oct. 12 told attendees here at the BAI Retail Delivery conference.

MOBILE, Ala. – Azalea City CU has chosen to convert its ATM, debit and credit card processing provider to Jack Henry & Associates’ JHA Payment Processing Solutions.