Payments

A former waiter at a TGI Friday's restaurant in Maryland has been indicted on 16 counts of identity theft, theft and conspiracy to commit theft in a credit card skimming scheme that ripped off 73 people.

RANCHO CUCAMONGA, Calif.-It may be time to start paying a little more attention to PIN debit fraud than in the past.

NORTH CANTON, Ohio-One executive who spoke to Credit Union Journal warned that just because the big banks have gotten better about protecting their ATMs from skimming devices doesn't mean that those criminals "drop their criminal devices and go get day jobs; they continue to use those devices, but in different places."

RIVERWOODS, Ill.-"Card Not Present," or CNP fraud continues to vex credit unions, notes one observer, who called it one of the most worrisome fraud trends of the day.

The latest forecast of mobile payment growth, from U.K. research company Visiongain, calls for $150 billion in mobile-phone-generated payments to take place globally by the end of this year. This is significantly larger than the estimate Gartner came out with last month, which predicted that worldwide mobile payment volume would total $86.1 billion in 2011.

SUITLAND, Md. – Andrews FCU here said it will launch a new credit card that incorporates EMV chip and PIN technology.

LAKE BLUFF, Ill. – One year following the implementation of Reg E – opt-in for debit card and ATM overdrafts – and 77% of checking account users have given consent.

ILLAWARRA, Australia – An Australian credit union is trying to recover after several hundred members were victimized by a card-skimming operation.

When newly acquired card customers from HSBC’s U.S. card program and ING’s online bank are folded into Capital One Financial Corp.’s existing base, they will have a rapidly expanding array of digital transaction and payments channels from which to choose.

The battle for supremacy in mobile person-to-person payments is raging. To date, its primary ordnance has been limited to the press release and the corporate event, most of them volleyed by big-name operators of existing payment networks, such as PayPal Inc., Visa Inc. and MasterCard Worldwide and Google Inc.

Capital One Financial Corp. has taken the second step that had seemed inevitable.

SAN FRANCISCO – Visa yesterday announced plans to accelerate the migration to EMV contact and contactless chip technology in the United States.

Instead of dipping its toe into the mobile-payments pool, Heartland Payment Systems Inc. intends to make a splash with a retail application that can enable a merchant’s employees to complete sales transactions anywhere in or out of the store.

The recession continues to have a firm grip on U.S. credit cardholders as fewer Baby Boomers own premium cards and consumers of all ages are more likely to carry decreased balances or no balances at all, a new survey report indicates.

Mobile-banking applications fared better than retail, productivity and social-networking apps, but banks still have work to do to protect customer data on mobile devices, a security audit released Aug. 8 suggests.

WESTbahn Management GmbH has selected VeriFone Systems Inc.’s PAYware Mobile Enterprise and managed-services products for use with its mobile-ticketing validation and payment operations when the company’s rail service begins in December, the payment terminal-maker announced Aug. 8.

Consumer bankcard and private-label credit card account defaults declined again in May, reaching lows not seen in more than two years as the economy continues to stabilize, according to new data from Fitch Inc.

MINNEAPOLIS, Minn.-In what it is calling a return to decades-old marketing tactics combined with new technology, credit-score giant FICO introduced a product designed to target credit card prospects more effectively in a sluggish market.

DES MOINES, Iowa-As credit unions make PIN network choices to comply with the new debit interchange rules, they need to be careful they don't get caught in the "race to the bottom."

ST. PETERSBURG, Fla.-In the wake of the CARD Act and new interchange rules, more credit union executives say now is the time to reel in checking business from banks.