Payments

MILWAUKEE – Guardian CU has begun a start-up credit card program with TMG Financial Services.

Another company has announced a mobile payments and marketing app in what some are calling the Wild West of mobile payments.

A San Francisco-based startup called Card.io is offering software that enables cell-phone cameras to scan credit card information, thus moving ecommerce from the Web to mobile phones and creating a new product for ISOs to sell to merchants.

Small and midsize businesses now have an alternative to traditional card-payment processing channels through a new mobile-payment processing service rolled out earlier this month by Australia’s Commonwealth Bank Ltd.

Vivotech Inc., a Near Field Communication software and systems company, has received $24 million in funding to expand beyond the 35 countries where its products are now used, the Santa Clara, Calif.-based company announced June 27.

KANSAS CITY, Mo.-Thomas Hoenig, the president of the Federal Reserve Bank of Kansas City, one of the most outspoken members of the Federal Open Market Committee, has never been shy when it comes to his opinion.

THOUSAND OAKS, Calif.-More banks are likely to follow in Regions Financial Corp.'s footsteps and bring their credit card portfolios back in-house as the worst of the recession's damage recedes and they look to increase revenue.

BILLINGS. Mont.-One small credit union CEO is asking why a large number of CUs have not stepped up and shared with Congress exactly what they are netting on their average debit transaction.

NEW ORLEANS-The controversial Kardashian Kard may have only been on the market for a few short weeks, but its 15 minutes of fame are far from over.

ST. LOUIS-Lawyers for Minnesota's TCF Bank told a federal appeals court last week that the Fed's proposed cap on debit fees amounts to an unconstitutional "taking" of its assets, in a last-ditch effort by banks and credit unions to block the Fed's final rule.

A San Francisco-based startup called Card.io is offering software that enables cell-phone cameras to scan credit card information, thus moving ecommerce from the Web to mobile.

JPMorgan Chase & Co. has dropped more than a thousand collection lawsuits across the U.S. that sought to recover bad credit card loans from borrowers.

RIVERWOODS, Ill. – Discover Financial Services posted a record second-quarter profit yesterday, based on rapid growth in debit income and lower loan losses.

MINNEAPOLIS – General Mills FCU said yesterday it has begun a start-up credit card program with TMG Financial Services.

Users of the check-in service Foursquare now can automatically redeem deals offered by merchants on the social-media application using an enrolled American Express Co. card.

Billtrust has launched a mobile edition of its online billing and payment software, the company announced July 21.

Mobile-payments service provider ChamsMobile Ltd. soon will launch mobile funds-transfer services in Nigeria, enabling citizens there to make payments for retail purchases and receive remittances from overseas connections.

Mobile-payments service provider ChamsMobile Ltd. soon will launch mobile funds-transfer services in Nigeria, enabling citizens there to make payments for retail purchases and receive remittances from overseas connections.

The rise of online and mobile banking plus new regulatory pressure on debit card interchange are converging to spark explosive growth in credit and debit card merchant-funded loyalty programs, a new report suggests.

The announcement last week by several telecommunication companies of plans to create a joint venture to fast-track mobile-payments processing potentially has broad implications for the mobile-payments market in Europe. But the companies have worked together before with little resulting success.