Payments

One hundred merchants across the U.S. will receive refunds from the Federal Trade Commission after being defrauded by an operation that provided debit and credit card processing services.

LIVE OAK, Texas – Randolph-Brooks FCU said it is has increased incentives to use its debit card by paying members 15 cents cash back on every debit card purchase through the end of the year.

Most banks design mobile sites as shrunken versions of online banking. Citigroup Inc.'s new website instead takes the lessons of mobile and blows them up for a bigger screen.

Banks are pushing mobile devices for payments, but an untapped–and more immediate–opportunity may involve using mobile phones to improve security on mainstream payment types, according to one security vendor.

PHILADELPHIA-Several days before the new debit interchange guidelines took effect, Visa and MasterCard were reportedly making a move to counter some of the impact of the Durbin rules, planning to raise fees merchants pay on small-ticket purchases.

NEW YORK – Bank of America said it will begin charging a $5 monthly fee in 2012 for all customers who make debit card purchases.

Banks and technology companies betting on mobile payments have to overcome a very basic hurdle: most Americans still do not have smartphones.

Borrowing money from a friend for a taxi ride, splitting the restaurant bill among a group of diners or sending funds to a student at college could become an easier and faster task through a new mobile-payment option Visa Europe is launching this week.

Mitek Systems Inc. has launched a single platform for remote deposit check capture and has formed a partnership that will help banks using its product fight duplicate-check fraud, the San Diego-based company announced Sept. 27.

Isis announced on Sept. 27 that several companies will launch mobile devices that implement its NFC and technology standards.

WARREN, Mich. – EXTRA CU has sold its $16-million credit card portfolio to TMG Financial Services.

The U.S. average credit card charge-off rate declined in August, resuming the general downward trend of the past two years following a slight uptick in July, according to a new Moody’s Investors Service report.

Banks tend to look at competitors in mobile payments with a wary eye, but they would be better off working with one segment of this group–telecommunication network providers, suggests Ernst & Young’s new report “Mobile Money 2011 (see report).

Kenya is proving to be a hub of mobile-finance innovation in the developing world, even as mobile-payment systems in the U.S. struggle to build an audience.

Google Wallet and its rivals are coming soon to bank customers’ mobile phones, but it turns out the vast majority of them could not care less, new research suggests.

MINNEAPOLIS – FICO was awarded eight new patents by the U.S. Patent and Trademark Office, including one for a new system of predicting, detecting and managing financial transaction device fraud using mass compromise analytics that could determine which cards need to be reissued after a data breach.

DEER PARK, Texas – Shell FCU has signed a full-service, single-sourced comprehensive electronic processing contract with Vantiv.

NEW YORK — MasterCard Inc. is preparing for the launch of Google Inc.’s mobile wallet within the next few weeks, but executives do not expect to see consumers regularly paying with their phones anytime soon.

GAINESVILLE, Fla. – Sunstate FCU has signed a single-source card processing contract with Vantiv.

PORTLAND, Ore. – Unitus Community CU is the first credit union to offer its members card customization through Member Access Pacific’s new contract with Serverside Group.