Payments

Apple Inc. boasts that its iPhone “changes everything,” but against the expectations of many bankers, it may not be changing payments–at least, not this year.

The Girl Scouts of Ohio’s Heartland Council has begun using AppNinjas Inc.’s Swipe Credit Card Terminal for iPhone to accept credit and debit cards from consumers buying members’ cookies, the organization announced March 9.

U.S. consumer credit card defaults declined again in January, reaching their lowest levels in more than two years as the economy gradually stabilized and more consumers were able to meet their payment obligations, according to new data from Fitch Ratings Inc. and Standard & Poor’s.

Yespay International Ltd. has released its application programming interface specifications that merchants may use to integrate Yespay’s mobile-based services into their point-of-sale systems, the London-based payment-services provider announced on March 11.

Apple Inc. may not be building a contactless payment capability into its next iPhone.

LAKE BLUFF, ILL. — The national median price of overdraft fees has peaked at $28, holding steady for the past seven months, according to a recent study from Moebs $ervices.

WASHINGTON — Congress and the Federal Reserve were subjected last week to a full-court press of support and opposition from all sides related to the Durbin Amendment's potential impact on interchange.

LEOMINSTER, Mass. – Members of two local credit unions are being warned to keep a close eye on accounts linked to their debit cards after some apparently fraudulent activity was noticed.

WASHINGTON – Visa and MasterCard are telling their credit union and bank owners the uncertainty they will face over litigation costs for a pending antitrust case over the networks’ anti-steering provisions will continue indefinitely, even as the controversy escalates over the Federal Reserve’s proposed rules on debit fees.

American Express Co.’s plans to test an application program interface that connects its cardholders with social media giant Foursquare Labs Inc. creates a “powerful combination of digital behavior and spending behavior,” David Wolf, AmEx vice president of global marketing capabilities, tells PaymentsSource.

TAMPA, Fla. — Card Services for Credit Unions will host a free webcast on the interchange updates: "Managing Your Debit Card Program Into the Future," on March 23rd at 2pm ET.

A year after testing mobile capabilities with its customers, Wow Bao, an Asian restaurant with three Chicago locations, is planning to launch a mobile gift card program with Mocapay Inc. by the end of April, PaymentsSource has learned.

Many consumers still are not familiar with the Credit Card Accountability, Responsibility and Disclosure Act and believe it has not had any effect on them, new research suggests.

WASHINGTON – Senator Dick Durbin insisted yesterday he will fight every effort to delay the pending implementation of his initiative to lower interchange fees paid to credit unions and banks.

The ongoing fight between Square Inc. and rival VeriFone Systems Inc. around payment security highlights the lack of common technical standards for mobile acceptance devices.

Consumers in India might have to pay fees if they want to manage their bank accounts through their mobile phones, according to a Reserve Bank of India official.

Competition to secure merchant users of mobile payment-acceptance services is on the rise. As a result, many companies have begun offering various options to appeal to small merchants.

Tanla Solutions Ltd. has launched a set of programming tools to allow micropayments within smartphone applications.

VeriFone Systems Inc. is taking off its gloves in the battle for mobile payment acceptance, claiming rival Square Inc.'s device can be adapted to use for fraud.

Regions Financial Corp. has updated its mobile banking capabilities to enable customers to transfer funds among internal accounts, pay bills and receive text alerts about balances and other details.