Payments

FAYETTEVILLE, N.C. – Two Russian immigrants on Thursday were charged with skimming credit and debit card data from members at four credit unions at three local ATMs.

Visa Inc. is working with clothing retailer Gap Inc. to deliver discounts to cardholders via mobile phone SMS text messages.

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.

American Express Co. earned first quarter net income of $1.2 billion, up 35.6% from $885 million during the same period in 2010. Total revenues net of interest expense rose 6.1%, to $7 billion from $6.6 billion, the company announced April 20.

POCATELLO, Idaho – Students at Idaho State University will be able to use their student ID as a debit card for Idaho State University CU starting fall semester.

Payment-terminal software applications are poised to play a significant role in the Near Field Communication payment ecosystem.

The Republic of Botswana’s First National Bank has launched a mobile wallet for its customers in the African country, a spokesperson for the bank tells PaymentsSource.

As the average credit card charge-off rate has declined sharply over the past six months, so has demand for collection agencies’ services.

Merchant processor WorldPay is reselling mobile-payments technology from vendor CellPoint Mobile that will allow clients’ customers to conduct transactions in several ways.

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.