Payments

Finnish handset maker Nokia Corp. is working with Near Field Communication technology developer Proxama Ltd. to develop loyalty and advertising applications, the companies announced April 19.

Selling mobile-processing services can prove quite profitable for independent sales organizations, observers say.

Early data show consumers survived the holidays with less financial distress than in previous few years, and the average U.S. credit card charge-off rate for most major issuers is on track to decline for at least the next few months, according to analysts at Moody’s Investors Service.

The availability of NFC smartphones — an ingredient many say is necessary for mobile payments systems to take off — may be a less onerous problem by 2014, a report from Juniper Research said.

KETTERING, Ohio – Day Air CU now is offering members a personalized photo image feature on its Visa debit cards.

AisleBuyer LLC, a Boston company, is selling mobile software that enables a consumer to scan an image of a payment card and use it to pay for in-store and online purchases.

Corporation Bank Ltd. has launched a mobile wallet to enable its customers to make purchases with their mobile handsets, a spokesperson for the Mangalore-based bank tells PaymentsSource.

COLUMBUS, Ohio-With the outcome of the Durbin Amendment still up in the air, Credit Union Journal asked CEOs attending the Ohio Credit Union League's inVest48 annual meeting what steps they're taking to adjust to the potential revenue reduction.

While applications that let consumers deposit checks via mobile phone are all the rage, some banks are finally getting around to upgrading remote deposit technology for its original audience: businesses.

Jeroo Inc. said it is testing a mobile payment technology called Scan&Ship Enterprise.

Citing increased consumer spending and improving economic conditions, Bank of America Corp.’s Global Card Services unit posted a sharp profit-increase during the first quarter ended March 31.

VIENNA, Va. – When calculating the biggest losers of the Durbin amendment’s cap on debit fee count among them Navy FCU, the nation’s largest credit union and seventh-largest issuer of Visa debit cards.

WASHINGTON – A major technology group comprised of some of the biggest corporations shifted its position on the proposed delay in debit rules a week after expressing support for the delay.

For the major card brands, emerging global markets that broadly lack access to financial services likely will represent the greatest earnings potential for mobile-payments initiatives, concludes a report from Macquarie Equities Research Group.

Driven by lower provision for credit losses, partially offset by lower net revenue, JPMorgan Chase & Co.’s Card Services unit generated net income of $1.34 billion for the first quarter ended March 30; it reported a $303 million loss during the same period last year, the New York-based issuer reported April 13.

American Express Co. is positioning its undisclosed investment in mobile-payments company Payfone Inc. as the next step in adding additional functionality to the card brand’s new Serve digital wallet product.

Visa Inc. last week completed a trial of mobile contactless payments in Australia in collaboration with Melbourne-based ANZ Banking Group Ltd., Vipin Kalra, Visa country manager for Australia, tells PaymentsSource.

Credit scores nationwide fell two points to 665 in the first quarter ended March 31, according to CreditKarma.com, which released its U.S. Credit Score Climate Report on Wednesday.

Most consumers hold at least one rewards-based credit card and would consider paying an annual fee if it meant they would receive and earn more rewards, new research suggests.

Direct carrier billing is becoming more popular as consumers see the convenience and merchants are more willing to accept higher transaction fees to increase sales, contends Zong Inc., a mobile-payments platform provider.