Payments

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.

DES MOINES, Iowa-A quick poll by TMG indicates that credit unions are not dumping rewards or free checking, but are weighing those options.

WILMINGTON, N.C.-The fact credit unions partnered with banks to fight the Durbin rule may have been a mistake, two analysts suggest.

Square Inc.’s mobile card reader is under fire again for its security.

Since 13-fold growth in business activity inside of a year is almost never wrong, Bank of New Zealand developed an Android app after Android visits to its mobile web browser spiked explosively in recent months.

CorFire is working to show it is ready to make a name for itself in mobile payments.

PURCHASE, N.Y. – MasterCard on Wednesday reported continued growth in its debit program helped push second quarter profits ahead 33% to $608 million.

Verity Credit Union, the latest customer of mFoundry's mBanking solution, has come out with the news that 6% of its customers began using mobile banking within three months of the credit union offering the service.

For a large international operation such as RBS' wholesale banking unit, drawing a mobile roadmap means scaling the knowledge curve posed by fast-developing new devices and technology to find the best match between innovation and client demand.

DENVER – Credit Union of Colorado is offering savings-linked ATM/debit accounts which automatically round up differences on purchases.

Digital payments have been the primary enabler of new financial services in Africa, as evidenced by the M-PESA-driven development of an entire financial ecosystem in Kenya. Further south, MTM MobileMoney has developed an electronic commerce payments system that enables debit payments, which should decrease seller discomfort with the credit-based digital commerce that has prevailed in that country.

INDIANAPOLIS – FORUM CU has signed an agent business credit card deal with TMG Financial Services.