Payments

A payment-terminal maker and a restaurant-software provider are teaming up to enable restaurant patrons to use Near Field Communication-equipped smartphones to pay their tabs at the table. The contactless technology also integrates transaction information with business software.

PayPal Inc. has added the ability for users of Android smartphones to fund their accounts by taking a picture of a paper check.

In the rush to offer mobile banking to as many customers as possible, several banks have taken a fragmented approach, making different apps for separate regions, customer bases and even different functions tied to the same account. But a startup says it doesn't have to be that way.

WASHINGTON – Responding to progress credit unions and banks have made in Congress to delay or derail new interchange caps that are included in the Durbin Amendment to the Dodd-Frank Act, the National Retail Federation is rolling out a major, nationwide, 60-day lobbying, grassroots and media campaign aimed at ensuring that the law goes into effect as scheduled.

The average U.S. credit card charge-off rate in April likely fell again as it headed toward historic lows, suggest preliminary monthly account-default data from the nation’s top credit card issuers Moody’s Investors Service analyzed.

Dwolla Corp., an alternative payments provider, is developing technology to help banks cut fraud as they start allowing transactions from mobile devices — and also help them decide which mobile devices are worth investing in to begin with.

Prepaid debit card providers might gain new customers by adding mobile remote deposit capture services because underbanked consumers see value in the technology, suggests new survey data.

Global shipments of handsets with Near Field Communication technology should increase to nearly 550 million units by 2015, helped by the decision earlier this month by three major U.S. wireless carriers to partner with leading credit card companies on a mobile-commerce initiative, according to new IHS iSuppli research.

MARION, Ind.-For many parents, the only thing scarier than putting the car keys in a teenager's hand is putting a credit card in those same hands. Afena FCU here is determined to change that-and throw in an incentive for local schools — with its student credit card program.

WASHINGTON-Federal Reserve Chairman Ben Bernanke told Senators he is doubtful the Fed can develop a rule adequately protecting CUs and small banks from the cuts in debit fees mandated for the biggest banks.

Consumer demand for credit is rising just as credit card issuers are relaxing their lending criteria, making way for new opportunities in credit card marketing, according to Federal Reserve Board data cited in a Tower Group report “Business Strategies for Credit Card Issuers to Address New Regulation and Increase Profits”.

SAN DIEGO–Mobile payments actually could increase the use of cards instead of replacing them with phones, an analyst said May 11 during a panel discussion on the future of merchant acquiring here at the Electronic Transactions Association’s Annual Meeting & Expo.

After the mobile-purchasing system in Apple Inc.’s iPhone game Smurfs’ Village led Apple to set new spending restrictions for mobile apps, the game’s developer has followed up with further restrictions for the game itself.

The news that Isis is seeking to expand its model by working with traditional card systems reveals the importance of wide cooperation in developing an NFC payments ecosystem.

With sales of mobile devices outpacing their distribution of debit and credit cards, banks in some countries are looking at new ways consumers may access cash at ATMs.

DeviceFidelity Inc. on Wednesday said it was issued a patent for using near-field communication technology to perform payment and other activities on mobile devices.

CHICAGO – Credit unions and banks around the country were frantically cancelling debit cards yesterday after Michaels Stores announced that fraud stemming from tampered checkout line terminals at its stores had spread across 20 states.

In launching its own digital wallet, Visa Inc. says its size will help it succeed in a market where many established payment companies have learned the hard way that bigger is not always better.

Despite the buzz surrounding mobile-banking services, a relatively few consumers use them on a regular basis, though nearly half are familiar with them, new research suggests.

Despite the buzz surrounding mobile-banking services, a relatively few consumers use them on a regular basis, though nearly half are familiar with them, new research suggests.